Platinum Australia Limited (ASX: PLA) (AIM: PLAA) is pleased to...

Platinum Australia Limited (ASX: PLA) (AIM: PLAA) is pleased to announce that the latest results from the resource definition drilling program on the Kalahari Platinum (“Kalplats”) Project (PLA earning 49% from ARMplatinum) have defined PGM mineralisation in reefs at the Pointer Prospect at the southern extremity of the Kalplats Project area.
PLA Managing Director John Lewins said: “The results from the drilling at the Pointer Prospect show that the PGM reefs continue into Pointer, which is the most southerly prospect in the Kalplats Project
area. The results indicate that a complete package of reefs is present, with the best result being 3m @ 3.92 g/t 3E PGM. These results are also exciting in the context of the Kalplats Extended Project which covers an area approximately 20 kilometres to the north and 18 kilometres to the south of the Kalplats Project area, as this result near the southern boundary between the Kalplats and Kalplats Extended Projects. This increases our confidence in the potential for the mineralisation to continue in this extended area.”
“Additional results have also been received for hole KP124 in the Scorpio Prospect which intersected a further 15m @ 2.32 g/t 3E PGM below the previously reported results which intersected multiple reefs including 4m @ 2.98 g/t 3E PGM. This appears to be a type of mineralisation which has not been encountered previously at Kalplats and the potential implications of this are currently being evaluated.”
Kalahari Platinum Project
The Kalplats PGM Project is located 330km west of Johannesburg and has an established Indicated
& Inferred resource of 3.4 million ounces 3E PGM (platinum + palladium + gold), including a high
grade Indicated & Inferred resource of 1.4 million ounces 3E PGM (12 Million tonnes at a grade of
3.6 g/t 3E PGM) in seven identified deposits to an average depth of approximately 150 metres below
surface. PLA believes that there is significant potential to increase the size of this resource as all
deposits appear to be open at depth and along strike. In addition a number of other targets have
been identified from geochemical survey work and a high resolution aeromagnetic survey completed
by PLA.
Under the Kalplats Joint Venture Agreement, PLA is earning up to 49% of the Kalplats Project from
African Rainbow Minerals Platinum (Pty) Ltd (“ARMplatinum”) by completing a Bankable Feasibility
Study including further drilling and providing the right for the project to use the Panton metallurgical
process (“Panton Process”).
As part of the Joint Venture, ARMplatinum has also obtained a Prospecting Right covering an area
approximately 20 kilometres to the north and 18 kilometres to the south of the Kalplats Project area,
increasing the total strike length held by the parties to almost 50 kilometres. PLA and ARMplatinum
each have a 50 percent contributing interest in the new area and PLA will manage the exploration
program which will target extensions of the known Kalplats style of PGM mineralisation.
PLA has previously completed an aeromagnetic survey over the first 5.5 kilometres strike length of
the Kalplats Extended Project (Area A) as shown in the attached plan. This indicates that the highly
magnetic units which host the PGM mineralisation continue into this extended area and a
comprehensive exploration program over this extended area is planned to commence shortly.
The latest significant results from the drilling program are provided in Table 1 below and their
locations are shown in the attached plans.