30th May 2006 07:01
African Platinum Plc30 May 2006 RNS Number:African Platinum Plc30 May 2006African Platinum plc ("the company")Ticker : APPIndex : AIMSector : Exploration AFPLATS COMPLETES DRILLING AT LEEUWKOP FOR UPDATED RESOURCE STATEMENT London, 30 May 2006 - London-listed platinum exploration and developmentcompany African Platinum (Afplats) announced today that it had receivedpreliminary results for the recently completed exploration drilling at theImbasa and Inkosi properties, the extensions to its flagship Leeuwkop propertyon the Western Limb of South Africa's Bushveld Complex. All samples were analysed by Anglo American Research Laboratory (AARL) under thesupervision of Snowden Consulting. Preliminary results for all mother holesdrilled on Imbasa and Inkosi are summarised below. Snowden Consulting has been appointed to undertake the resource modelling forthese properties when all deflection results are available. Afplats chief executive Roy Pitchford said today that once the updated resourcestatement had been finalised, it would provide the basis for the preparation ofa scoping study on Afplats's plans to expand the Leeuwkop project. "The updated resource statement for Imbasa and Inkosi will expand Afplats'resource base and add further impetus to the company's longer-term objective tobecome a one million ounce per year producer," he said. Pitchford also said that the main Leeuwkop project was progressing well withdetailed design of the shaft on schedule and finalisation of power and watercontracts expected within the next two weeks. "Our mining right application for Leeuwkop has been accepted and is currentlybeing processed. The selection of the project team has commenced in order thatthey are in place to support the proposed development," he said. UG2 Reef (Preliminary grades reported over true width) Mother Depth Total UG2 zone Hole (m) Width 3PGE+Au (cm) (g/t) Imbasa SIB02 1,325.9 147 4.03 SIB03 1,999.1 158 4.55 SIB04 1,173.6 127 5.11 SIB05 1,413.0 Incomplete Intersection SIB06 2231.2 220 5.74 SIB07 1,641.8 95 5.56 SIB08 1,600.6 194 3.65 SIB09 1,450.6 137 6.06 Inkosi INK01 1,095.0 167 5.49 INK02 1,424.9 96 3.50 INK03 1,236.8 124 4.31 INK05 901.2 112 3.53 INK06 851.7 126 4.45 INK07 1,196.3 162 4.85 - Total UG2 Zone is the composite of the UG2 Reef and UG2 Leader Seams; theseseams being separated by a pyroxenite parting of a few centimetres. Merensky Reef (Preliminary grades reported over true width) Mother Hole Depth Mineralised 3PGE+AU (m) width (cm) (g/t) Imbasa SIB02 1,096.0 104 3.84 SIB03 1,841.6 98 2.01 SIB04 939.2 120 2.78 SIB05 1,175.0 90 3.26 SIB06 1,970.3 119 1.44 SIB07 1,453.9 113 2.21 SIB08 1,416.4 133 1.48* SIB09 1,222.9 122 2.8 Inkosi INK01 862.8 114 3.44 INK02 1,214.9 119 1.88 INK03 998.6 95 2.27 INK05 659.2 78 4.07 INK06 614.9 69 4.07 INK07 952.0 138 4.01 * Abnormal intersection, possible pothole facies The data in this announcement has been verified and checked by Dr R. Harmer(MSc, PhD) SACNASP, FGSSA and Mr D. Reeves (B.Eng) MAusIMM, MSAIMM, ASIA. DrHarmer is the Exploration Manager and Mr Reeves the Technical Manager forAfplats. AFRICAN PLATINUM PLC ENQUIRIES:Chief Executive - Roy Pitchford+27 (0)82 419 2581 or +44 (0)77 9390 9985Investor & Media Relations - Kathy du Plessis+27 (0)11 728 4701, +27 (0)83 266 5847 (Mobile) or [email protected]: www.afplats.com DISCLAIMER: Investing in all equities, including natural resources-relatedequities, carries risks which should be taken into consideration when making aninvestment. This announcement contains forward-looking statements regardingAfrican Platinum plc, including the development of its mining developmentprojects. Actual results relating to any and all of these subjects may differmaterially from those presented. This information is provided by RNSThe company news service from the London Stock Exchange This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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