results of

53 meters of

5.26 g/t

platinum, palladium

and gold

Waterberg Extension Project Prospecting Permits

The Waterberg Extension prospecting permits provide a large scale open exploration opportunity for the Company on an entirely new lobe of the famous Bushveld Complex in South Africa.

 

Drilling on the 87% owned Waterberg Extension Project started on October 2, 2013, shortly after our year end and immediately produced exciting results. The initial drill holes confirmed the northward extension of the Super F layers from the Waterberg JV Project deposit area on to the Waterberg Extension Project area. In December 2013 the Company announced some of the most impressive results to date at the Waterberg Extension Project with hole WE-08, located 1,600 meters north of the JV deposit area, returning assays results of 53 meters of 5.26 grams per tonne platinum, palladium and gold. The intercept is located 555 to 609 meters from surface and is open along strike as well as up and down dip. 


The WE-08 intercept has an estimated true thickness of 44 meters. In order to put that in perspective it is about equivalent to the height of a 13 story building. This scale allows engineers to consider highly efficient bulk underground mining methods.

 

Our geophysical modelling and drilling have confirmed the Bushveld Complex with confirmed F zone for 4.7 kilometers beyond the initial deposit and the Bushveld Complex has now been confirmed with drilling for 17 kilometers beyond the initial deposit at the Waterberg JV Project.

 

The Waterberg Extension Project prospecting permits cover 489 square kilometers with a further 330 square kilometers under pending applications.