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Scoping study on the horizon at Owendale

3rd October 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Metals hopeful Platina Resources was set to launch a detailed economic analysis of its Owendale platinum, scandium, nickel and cobalt project, in New South Wales, after a new mineral resource was declared.

A drilling and resource review has increased the resource at Owendale by 0.23-million ounces of platinum and 5 700 t of scandium metal, with the project estimated to contain some 0.52-million ounces of platinum and 9 100 t of scandium metal.

Platina pointed out that the value of the nickel and cobalt mineralisation contained in Owendale was estimated to be worth nearly as much as the platinum mineralisation, at prevailing metal prices.

MD Rob Mosig said that the new resource estimate was a milestone for the company.

“The new resource of over 0.5-million ounces of platinum, combined with the added value to be obtained from the nickel and cobalt credits, provides real upside for the project.”

He noted that a series of metallurgical tests were under way to identify various optimal flow sheets to process the Owendale mineralisation. Scoping studies to estimate the potential mining capital and operating costs would also be carried out in conjunction with the finalisation of the metallurgy flow sheet.

Edited by Creamer Media Reporter

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