Southern Palladium (ASX:SPD) has completed the initial resource drilling campaign for the Prefeasibility Study (PFS) for the Bengwenyama PGM project, located on the Eastern Limb of the Bushveld Complex, South Africa.
Managing Director Johan Odendaal says these results provide a strong foundation for the upcoming mineral resource update and the ongoing PFS.
“We are pleased with the consistency of recent drilling results to the initial inferred Mineral Resource grades and prill split, which underscores the robustness of the UG2 Reef and the overall project. The completion of 82 drillholes, totalling 30,746 metres, including 50 reef deflections, marks a significant milestone in our exploration efforts,” Odendaal says.
“The metallurgical test work on chromite recovery and the investigation of mineralisation in the footwall of the Merensky Reef will further enhance our understanding of the resource potential.
“We remain committed to advancing the Bengwenyama project, leveraging our experienced management team and strategic positioning in the global PGM market. The forthcoming updates and continued drilling for the Definitive Feasibility Study (DFS) will be crucial in realising the full potential of this world-class asset.”
The initial drilling campaign aimed at declaring indicated mineral resources for the PFS was completed successfully during Q2 2024.
Southern Palladium says this will provide the basis for an indicated mineral resource in Q3 CY2024 of sufficient size and quality to allow the completion of a PFS for the Bengwenyama project.
All samples submitted to ALS laboratories in Johannesburg have been received back from the laboratory, allowing for the next MRE to commence. In total 82 drillholes have been completed, totalling 30,746m which included 50 reef deflections.
These reef deflections were drilled for metallurgical sample collection, and some will be utilised to study the short-range variability (SRV) of the UG2 reef for resource estimation purposes.
Southern Palladium is a dual-listed (JSE:SDL) platinum group metal (PGM) company developing the advanced Bengwenyama PGM project, particularly rich in palladium/rhodium, in South Africa. The project is located on the Eastern Limb of the Bushveld Complex, which contains more than 70% of the world’s known PGM resources.
The company, holding a 70% stake in the project, will primarily concentrate on delivering a PFS.
Additionally, following the completion of a geophysical survey conducted in 2022 and the September 2023 submission of the mining right application, they will oversee the completion of the diamond drill program initiated in August 2022, along with several other concurrent technical studies.
Write to Adam Orlando at Mining.com.au
Images: Southern Palladium
