ripper company presentation out now, page-10

Am buying this on Aim in the Uk since thats where I am based......

Great stuff and another great write up!


http://www.mineweb.net/platinum/668988.htm

More platinum for Sylvania at Everest North on the Bushveld Complex
By: Rhona O’Connell
Posted: '08-MAR-07 20:00' GMT © Mineweb 1997-2006

LONDON (Mineweb.com) --Sylvania Resources, listed on the Australian Stock Exchange and on AIM (ticker symbol SLV, market capitalisation £64 million or US$124 million), is involved in platinum group metals projects on the Bushveld Igneous Complex in South Africa. The non-executive Chairman of the company is Mr. Ed Nealon, who has 30 years’ experience in the mining industry, having worked with Anglo American and Rio Tinto. He was responsible for the development of the Kroondal mine for Aquarius, where he served as both Chief Executive Officer and Chairman. The Chief Executive Officer is Mr. Terence McConnachie, who founded South African Chrome and Alloys Ltd and has considerable experience in developing Greenfield operations.

The first Sylvania project is a 25% interest in the CTRP consortium, led by Aquarius Platinum Ltd., and is fully operational, with a plant at the Kroondal Mine to treat the tailings of the Xstrata and LanXess chrome mines. This is managed by Aquarius and has been in production since January 2005. The second involves the recovery of chromite and PGM from the tailings of Samancor’s chrome mines and a plant is under construction to recover PGM from the Samancor tailings plant at its Milsell chrome mine.

The third project, and the subject of the latest developments at the company, is the Everest North UG2 project on the Vygenhoek farm on the Eastern Limb of the Bushveld Complex. Sylvania has been a contractor to Aquarius Platinum up to now and has been prospecting the area. Under the original agreement with Aquarius, Sylvania was due, on proving the project viability, to assist Aquarius to obtain a mining right that would subsequently be transferred to Sylvania. Sylvania has now announced that the old order prospecting rights held by Aquarius have now been converted to new order prospecting rights. Aquarius will now nominate Sylvania as the applicant for the new order mining rights once the bankable feasibility study has been complete.

Previous work on the property has outlined an inferred resource of 4.2 million tonnes grading 5.87 grammes/tonne of platinum, palladium, rhodium and gold (4PGE), containing 796,000 ounces of PGMs. Sylvania reports that the diamond drilling on the UG2 reef horizon at Everest North in order to upgrade the deposit to the measured category has continued to make good progress. Fourteen drill holes have been completed to date, each with two deflections and each has intersected a competent and composite type UG2 reef. So far assays have only been returned for the first six holes.

These give an average grade of 4PGE of 5.30 grammes/tonne over 1.37 metres, with a split of 56% platinum, 32% palladium, 11% rhodium and 1% gold.

Not only are these good grades, they are close to surface. The UG2 reef outcrops at surface along the whole of its perimeter and is shallow-dipping, at between 5° and 15°, ranging from surface level to 150 metres down, and is thus amenable to mechanised mining. Access to the orebody will be by decline shafts to be developed while opencast mining is underway.

Sylvania will supply Aquarius with all the product from the operation, whether in ore or concentrate form. There is no published definitive time line yet, but this looks like a prospect of considerable promise.