Good post Novac,i holding both this was yestis an for UMCers, if...

Good post Novac,

i holding both this was yestis an for UMCers, if ur interested..... dont say we dont look after our ppl!!!!

EXPLORATION UPDATE South Africa

Mooiplats Platinum Project Platinum Mining Ventures “PMV” (formerly Impact Mining), a 50% owned company of GAU, has commenced its diamond drilling program on the Mooiplats Platinum Project in South Africa. The drill program is planned to confirm the presence of the Merensky Reef as well as the previous high-grade Platinum and Palladium results. A secondary strategy is to look at extending the current mineralized zone further down dip. Initial geological interpretations from the current drilling programme has confirmed the intersection of the platiniferrous Merensky Reef on the property. PMV expects that this drilling programme will be completed within the next 6-8 weeks. The Prospecting Rights are located on the north-eastern limb of the Bushveld Complex (see Map 1). The main target minerals on the properties are platinum, nickel and other Platinum Group Elements (PGE). The project area covers approximately 25 kilometres of strike length along the Bushveld Complex and located west of major platinum mines operated by Anglo American Platinum, Aquarius Platinum and African Rainbow Minerals. Drill results to date from previous drill programmes indicate that the platinum values are extremely encouraging and are typical for the Merensky reef on the Western limb of the Bushveld. PMV anticipates carrying out the necessary drilling to get the project into a JORC compliant resource base within the next few months. Based on the continuity of the drill results to date (see Cross-section 1), the Company does not anticipate the requirement for an extensive amount of drilling to reach a JORC compliant resource. PMV has also commissioned an independent geological report from SRK Consulting in South Africa to provide an opinion on the previous drilling and an interpretation of the resources on the property. This report will be utilised in the company’s re-structuring and independent stock exchange listing as a result of the in-specie distribution of the shares held by GAU shareholders. SRK has calculated a global resource of 74,200,000 tonnes of Merensky Reef on the property at an insitu grade of 4 gms per tonne PGE.

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