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Platinum Group Metals Provides Waterberg PGE Project Definitive Feasibility Study Update
VANCOUVER, British Columbia and JOHANNESBURG, South Africa, Dec. 11, 2017 (GLOBE NEWSWIRE) -- Platinum Group Metals Ltd. (TSX:PTM) (NYSE American:PLG) (“Platinu
About this update from Platinum Group Metals Ltd.
[{"type":"text","content":"VANCOUVER, British Columbia and JOHANNESBURG, South Africa, Dec. 11, 2017 (GLOBE NEWSWIRE) -- Platinum Group Metals Ltd. (TSX:PTM) (NYSE American:PLG) (“Platinum Group” “PTM” or the “Company”) is pleased to announce that the ongoing Definitive Feasibility Study (“DFS”) for the Waterberg Project is now being advanced under the direction of the Technical Committee appointed by Waterberg JV Resources (Pty) Ltd. (“Waterberg JV Co.”). Seventeen drill rigs are on site and have commenced drilling with the objectives of defining the shallowest areas of the current 102 million tonne reserve (details below) for increased confidence and detailed mine planning and to upgrade a portion of the indicated resources to measured resources for reserve consideration in the DFS. Immediate areas for in-fill drilling include the Northern and Boundary Super F zones. The Scope of Work and plans for the DFS during 2017 and 2018 have been agreed in detail by the Technical Committee. Members of the committee represent the Company and all other Waterberg Project partners; Impala Platinum Holdings Ltd. (“Implats”), Japan Oil, Gas and Metals National Corporation (“JOGMEC”) and Mnombo Wethu Consultants (Pty) Ltd. (“Mnombo”); Stantec Consulting International LLC (“Stantec”) and DRA Projects SA (Proprietary) Limited (“DRA”) have been selected as the lead independent project engineers based on a detailed, professionally supervised tendering process. Stantec will focus on underground mining engineering and design and reserve estimation. DRA will focus on metallurgy, plant design, infrastructure and cost estimation. The Waterberg Project has a number of highly attractive characteristics, which indicate it will be a low-cost, shallow, bulk mineable project with significant scale and growth potential. The recent participation of Implats, the world’s second largest platinum producer with fully integrated mine to market operations, represents a significant step in the advancement of the Waterberg Project towards potential development and production. R. Michael Jones, CEO of Platinum Group said, \"We are very pleased with the work completed by the Technical Committee. The mine building and operating experience of the technical team, including Implats and the newly appointed engineers, alongside our own discovery team, are working with...