🕐19.01.11 - 10:54 Uhr
Release: Villages drilling programme on Lesego intersects Merensky Reef at signi ficantly shallower depths
Press Release
19 January 2011
Villages drilling programme on the Lesego Platinum Project intersects
Merensky Reef at significantly shallower depths
- Potential to significantly realise time and cost savings once in
production
Village Main Reef today announces that initial results of a shallow
exploration drilling programme on the Lesego Platinum Project, have
identified the potential for shallower resource ounces.
Initiated to
investigate and delineate shallow Platinum Group Elements resources on the
project, the drilling programme identified the first reef intersection of a
well mineralised Merensky Reef over a thickness of 1.48m at a depth of 943m
below surface.
The reef thickness discovered is comparable to those identified in both the
independent Competent Persons Report and the Scoping Study report that was
completed in September 2010.
Bernard Swanepoel, CEO of Village commented, "The discovery of a shallower
mineralised reef at depths of less than 1000m elevates this project from a
good platinum project to a potentially great one and will realise
significant time and cost savings during the project development and
production phase.
The shallower reef intersection has given the project more
confidence and is a perfect complement to the excellent widths of 1.47m on
the Merensky Reef, grades of 6.43g/t and base metal credits that have
already been identified in the Merensky and UG2 reefs."
Further drilling will continue in the demarcated area while awaiting the
assay results for these initial reef intersections.
Village will release an
updated resource statement once assay results have been received and
analysed.
ENDS
Contacts: Louise Brugman
Please note that Bernard and Dorian are on a road show in North America and
so will not be available for further interviews today
Logo_sharper02
media & investor relations
louise brugman
managing director
T: +27 (0) 11 787 3015
C: +27 (0) 83 504 1186
E:
www.vestor.co.za
journallink
This email contains confidential information.
If you are not the intended
recipient, you must not disclose or use the information in this email in any
way.
If you have received it in error, kindly notify us immediately by
return email and delete the original message.
Products & Services | Jobs
|