Southern Palladium (ASX:SPD) has made a submission for a Mining Right Application (MRA) to the Department of Mineral Resource and Energy (DMRE) for its 70% owned Bengwenyama Platinum-Group Metal Project.
The company is confident in proceeding with the application, bolstered by the recent 34% increase in the total Mineral Resource (comprising indicated and inferred categories), now standing at 25.11 million ounces of 6PGE+Au.
Southern Palladium says this growth has been achieved alongside ongoing drilling activities at the project, situated on the Eastern Limb of the Bushveld Complex in South Africa. Drilling is continuing and the company is planning to release a 2nd interim resource update in 4Q 2023.
Managing Director Johan Odendaal says the submission of the MRA signifies a significant milestone in its successful platinum group metal exploration journey since its commencement in August 2022.
“We are confident to proceed with this application following the recent 34% increase in our resource which now stands at 25.11 million ounces of 6PGE+Au. This application marks our transition from a pure exploration to a development-focused company.”
The MRA is for PGMs, gold, copper, chrome, cobalt, silver, and nickel over the full extent of the farms Nooitverwacht 324 KT and Eerstegeluk 327 KT, both of which are in the Limpopo Province of South Africa.
The exploration tenement is 100% held by Miracle Upon Miracle Investments (MUM) in which the company holds a 70% interest. The total application area over the two farms measures 5,280ha in extent.
Write to Adam Orlando at Mining.com.au
Images: Southern Palladium
