Canadian mining group Anooraq Resources on Friday announced that drilling has recommenced at the Boikgantsho joint venture properties, located on the northern limb of the Bushveld complex.
Boikgantsho is a joint venture between Anooraq and Anglo Platinum aimed at the exploration and development of platinum group metals deposits on the Drenthe, Witrivier and the northern part of the Overysel farms, which host the Drenthe and Overysel North platinum group metals deposits.
An independent estimate of the collective mineral resources in the Drenthe and Overysel North deposits, based on drilling to September 2004, at a $20 gross metal value per tonne (GMV/t) cut-off, includes 7,7-million ounces combined platinum, palladium and gold (3PGM) within indicated resources of 177-million tonnes grading 1,35 g/t 3PGM2 and 0,13% nickel and 0,08% copper, and 4,1-million ounces within inferred resources of 104-million tonnes grading 1,23 g/t 3PGM3 and 0,14% nickel and 0,09% copper.
Scoping-level engineering studies have been carried out using this resource, and results of the preliminary assessment are expected shortly.
“Once all of the analytical data from drilling to December 2004 has been received, the geological models and mineral resource estimates will be updated for a pre-feasibility study in the first half of 2005,” Anooraq Resources said in a statement.
The current 24 000m multi-rig drilling programme is focused on the Drenthe deposit.
Drilling is planned to proceed at 50m intervals along 50m spaced lines in order to define measured mineral resources within the deposit, and advance the project toward a bankable feasibility study. — I-Net Bridge