― 13% increase in the higher-grade 600 ppm cut-off scandium Mineral Resource ― 8% increase in the 300 ppm cut-off scandium Mineral Resource
Platina Resources Limited ("Platina", ASX: PGM) is pleased to announce an updated scandium Mineral Resource estimate at its 100% owned Owendale project, outlined in Table 1 and Table 2.
The new Mineral Resource estimate positions Owendale as one of the largest and highest-grade scandium projects in the western world.
The positive results follow a small resource drilling program in 2018 and some targeted reassaying over two new focus areas for the current Feasibility Study. These new resource areas are expected to be converted into new Ore Reserves with mine planning and feasibility work in progress.
Platina Managing Director, Corey Nolan, commented: "Owendale is now positioned as one of the highest-grade scandium resources projects in the western world with the potential to also derive by-product revenue including, nickel-cobalt intermediate products and high purity alumina. The focus is now on completing the feasibility study and the commencement of off-take marketing to facilitate project financing and development when permits are approved".
PGM Price at posting:
8.3¢ Sentiment: None Disclosure: Held
