Platina to Commence Scoping Studies on the Owendale Project
Perth, Nov 5, 2014 AEST (ABN Newswire) - Platina Resources Ltd (
ASX:PGM) (PTNUF:OTCMKTS) is pleased to announce that SNC-Lavalin Australia Pty Ltd have been commissioned to develop and manage a comprehensive hydrometallurgical test work program for the extraction of Scandium and associated metals (Copper, Cobalt, Nickel and Platinum) from the Owendale Deposit.
The current program will provide the basis for a Scoping Study to investigate the initial economic attractiveness, at a +/-50% level of accuracy, of several hydrometallurgical options for the development of the resource. Other options to be investigated include direct shipping of ore to a processing plant in China, or a partial processing of a concentrate in Australia.
The hydrometallurgical test work program is scheduled to commence on 5 November 2014 and will take approximately 7 weeks to complete.
The work will include a range of leaching options including Solvent Extraction tests and will be used to investigate the preliminary economics and viability of several project options and identify which of these are the most attractive to take to the pre - feasibility and final feasibility stage.
Other aspects of the Owendale project such as environmental baseline studies and requirements for a mining lease application are currently being reviewed by the Company and its Consultants and will be formalised and advised in due course.
Platina Managing Director Rob Mosig said: "Platina is currently progressing negotiations with two Chinese manufacturers who have signed Heads of Agreement, and the commencement of the Scoping Study at Owendale is a major milestone in the project history towards development of the deposit."
The Owendale Project hosts an Indicated and Inferred Mineral Resource (JORC 2012) of 24 million tonnes of scandium grading 384ppm Sc (at a cut-off of 300ppm Sc) and contains a total in-situ content of 9,100 tonnes of scandium metal or 14,000 tonnes of scandium oxide (Table 1 in link below). Details of the resource are in the technical description of the Company's ASX release dated 3 October 2013.
To view tables and figures, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-PGM-827463.pdf
About Platina Resources Limited
Platina Resources Limited (ASX:PGM) (OTCMKTS:PTNUF) is an Australian-based company focused on returning shareholder value by advancing early-stage metals projects through exploration, feasibility, permitting and into development.
The Company has interests in the following projects:
- Platina Scandium Project (100% interest) - located in central New South Wales, the project is one of the largest and highest-grade scandium deposits in the world, which has the potential to become Australia's first scandium producer with cobalt and nickel credits. A Definitive Feasibility Study was completed in late 2018 demonstrating the technical and economic viability of constructing the project. The Company is now focused on completing the permitting and securing offtake and financing.
- Skaergaard (100% interest) - One of the world's largest undeveloped gold deposits and one of the largest palladium resources outside of South Africa and Russia, located in Greenland;
- Munni Munni (30% interest) - Situated in the Pilbara region of Western Australia, the project is one of Australia's most significant Platinum Group Metal occurrences. Munni Munni also has potential for conglomerate hosted gold and is a Joint Venture with Artemis Resources Limited; and
- Blue Moon (to earn a 70% interest) - Located in California, U.S.A, the project is subject to a Nl 43-101 Mineral Resource estimate. The resource is open at depth and along strike and has favourable metallurgy.
For more information please see: https://www.platinaresources.com.au
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