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Platinum Group Metals Provides Update on Waterberg Definitive Feasibility Work
VANCOUVER, BRITISH COLUMBIA and JOHANNESBURG, SOUTH AFRICA--(Marketwired - June 15, 2017) - Platinum Group Metals Ltd. (TSX:PTM)(NYSE MKT:PLG) ("Platinum Group"
About this update from Platinum Group Metals Ltd.
[{"type":"text","content":"VANCOUVER, BRITISH COLUMBIA and JOHANNESBURG, SOUTH AFRICA--(Marketwired - June 15, 2017) - Platinum Group Metals Ltd. (TSX:PTM)(NYSE MKT:PLG) (\"Platinum Group\" or the \"Company\") reports that planned Definitive Feasibility Study (\"DFS\") engineering work on the Waterberg Project is underway, including infill drilling, resource modelling, mine plan optimization and infrastructure engineering. Engineering and design work to reduce and improve underground development and optimize the project scale and return will be part of the DFS. The Waterberg Project represents one of the few significant undeveloped primary palladium assets globally. The palladium market has been in a fundamental deficit for a number of years and based on strong auto demand, limited mine supply and shrinking stockpiles this deficit is expected to continue. Detailed drilling targeting the higher grade, thicker portions of the deposit is in progress. The objective of the drilling is to move portions of the deposit into the measured resource category and to investigate the best grade portions for inclusion in early mine planning. License and permitting application work is also underway. Work at Waterberg is wholly funded at present by 28.35% JV partner JOGMEC (the Japan Oil, Gas and Metals National Corporation) through an exploration earn-in commitment. Details During May 2017 infill drilling re-commenced at Waterberg with the objective of increasing the confidence level of defined areas of T and F Reef from the inferred to the indicated or measured level of confidence. A total of eight machines have been deployed and approximately 11,230 meters have been drilled in this program to date. Assays for the current drilling program are in process. Several holes drilled in late 2016 have recently returned assays. Highlights include the following intercepts: North Super F Zone Borehole WE097D3 returning 45.1 meters of 4.64 g/t 3PGE, including 16.6 meters of 7.28 g/t 3PGE; North Super F Zone Borehole WE096D0 returning 25.81 meters of 3.62 g/t 3PGE, including 6.15 meters of 4.89 3PGE; and T Zone Borehole WB211D2 returning 6.55 meters of 5.81 g/t 3PGE. The true width of the shallow dipping (30° to 35°) mineralized zones that were sampled are approximately 82% to 87% of the reported interval from the vertical intercept. For the efficient application of bulk mining metho...