Fantastic organic growth taking place with another 26 km of land added to PLA existing ground. Now have a length of 75km+. Should be a few ounces tucked away in the new addition.
Kalplats could be known as the Elephant!! See announcement from London below.
LONDON (Dow Jones)--Platinum Australia said Tuesday that a Prospecting Right has been
issued for a further extension to the company's Kalahari Platinum (Kalplats)
Project.
The new extension (Stellex North) covers an area of approximately 26 kilometres of
strike length to the north of the existing "Extended" project.
The Prospecting Right has been issued to Stellex Platinum, a joint venture company
owned 49% by PLA and 51% by Batsalani Mining & Resources.
The issue of the Right allows PLA to immediately commence exploration works including a
detailed aeromagnetic survey and geochemical sampling program on the project area.
Managing Director John Lewins said: "The issue of this Prospecting Right to
Stellex gives us access to a further 26 kilometres of strike length of the Kraaipan
Greenstone belt which PLA believe has potential to host extensions to the known Kalplats
style mineralisation.
"Under the terms of the agreement with Batsalani, PLA has been appointed as the
manager of the project and in addition has the opportunity to increase its equity in the
project by funding the initial $30,000 of expenditure on the project.
"The partners intend to carry out an aeromagnetic survey of the project during the
second half of 2008, to be followed by a detailed soil geochemical survey over the
project area."
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