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Exploration Update for Northern Limb Projects
Exploration Update for Northern Limb Projects.
About this update from Sylvania Platinum Ltd.
[{"type":"text","content":"\n\n\n \n \n \n\n\n\n\n\n\n\n\n\n\n\n\n \n20 August 2024\n \n \nSylvania Platinum Limited\n(\"Sylvania\", the \"Company\" or the \"Group\")\n \n \nExploration Update for Northern Limb Projects \n \n \nSylvania (AIM:SLP), the platinum group metals (\"PGM\") producer and developer with assets in South Africa, is pleased to announce the results of the successful Scoping Study completed on the Volspruit Project, as well as the declaration of an Exploration Target at the Hacra Project and an update on the Aurora Project. \n \nThe Competent Person's Report (\"CPR\") presents the Volspruit Scoping Study, an update on the October 2022 Scoping Study, following on from the updated Mineral Resource Estimate (\"MRE\") statement released in February 2024. The contributions from rhodium (\"Rh\") content and additional tonnages from the South body are included in the updated JORC Compliant (2012) CPR.\n \nThe full Scoping Study/CPR and the related appendices are available on the Company's website.\n \nHighlights (100% attributable basis)\n \nVolspruit\n \no A Scoping Study for the North body was completed in 2022 and the MRE was updated in 2024 to include resources from the South body, as well as estimates for both Rh and ruthenium (\"Ru\") which had previously not been assayed for; \no 28.24 million tonnes (\"Mt\") (gross in-situ) (2022: 15.4 Mt) at 4E (4E includes platinum (\"Pt\"), palladium (\"Pd\"), Rh and gold (\"Au\")) of 2.36 grammes per tonnes (\"g/t\") (2022: 2.27 g/t 3E); \no Production rate of 1.8 Mt per annum (\"Mtpa\") from the North and South pits; \no A pre-tax net present value (\"NPV\") of ZAR1.2 billion / $69.0 million (2022: ZAR 464 million / $27.3 million at 12.5% discount rate) at a 12% discount rate; \no Pre-tax Internal rate of return (\"IRR\") 17% (2022: 17.9%); \no Payback period of six years (2022: 4.25 years); \no Life of mine (\"LOM\") 14 years (2022: 8.7 years); and\no Peak funding requirement ZAR4.3 billion / $238.3 million (2022: ZAR 2.5 billion / $147.4 million).\n \nHacra\n \no Exploration Target of 20 Mt to 22.5 Mt at an estimated 4E grade of between 2.18 g/t and 3.32 g/t;\no The tonnage and grade ranges in this Explo...