Ivanhoe substantially lifts Platreef’s resources – by Henry Lazenby (MiningWeekly.com – May 11, 2016)

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TORONTO (miningweekly.com) – Africa-focused project developer Ivanhoe Mines has released an updated mineral resource estimate for its flagship Platreef platinum-group metals (PGMs) nickel, copper and gold project on South Africa’s Bushveld Complex’s northern limb, located near the town of Mokopane, in Limpopo.

The TSX-listed firm reported an increase of 58% in the compliant indicated mineral resources tonnage to 346-million tonnes, at a grade of 3.77 g/t platinum, palladium, rhodium plus gold (3PE+Au), 0.32% nickel and 0.16% copper, at a cutoff grade of 2 g/t 3PE+Au.

The updated mineral resource had also calculated an increase of 21% in the inferred mineral resources tonnage to 506-million tonnes, at a grade of 3.24 g/t 3PE+Au, 0.31% nickel and 0.16% copper, at a cutoff grade of 2.0 g/t 3PE+Au.

Contained metal in the indicated resources rose 45%, at a cutoff grade of 2 g/t 3PE+Au, totalling 41.95-million ounces of 3PE+Au, plus a 47% increase in nickel to 2.44-billion pounds and a 50% increase in copper to 1.23-billion pounds, the company advised on Wednesday.

Contained metal in the inferred resource category, at a cutoff grade of 2 g/t 3PE+Au, had increased by 11% to total 52.77-million ounces of 3PE+Au, nickel had increased by 13% to total 3.44-billion pounds and copper had increased by 18% to 1.78-billion pounds, the company stated.

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