Southern Palladium (ASX:SPD) has intersected the UG2 reef within all three drillholes at its Bengwenyama platinum group metal project in South Africa, confirming additional sections of the geological model in the inferred mineral resource.
Samples have been submitted for analysis with assay results expected within four to six weeks.
Two of the UG2 intercepts are three kilometres apart and are approximately the same thickness, which is about 75 centimetres.
Drillholes E060 and E033 were being drilled by the smaller YWE D90 drill rig, which is small enough to enter more confined areas but unfortunately does not have the depth capacity required.
These two drillholes are now being deepened by the Delta 520 and one of the new CS 1500 drill rigs.
A fifth drill rig, the Longyear 44, arrived on site last week and will start drilling drillhole E004 in the northern corner of the farm Eerstegeluk. This fulfils the initial drill rig complement.
The drilling to date – besides confirming the geological model in the inferred Mineral Resource around drillhole E019A and the development of a stratigraphic column – has also shed light on the structures in the exploration target area in the southeast of the farm Eerstegeluk.
Commenting on the UG2 intersection, Southern Palladium managing director Johan Odendaal said the drilling program at Bengwenyama was gaining momentum, and would make good progress in the weeks ahead with five drill rigs now in operations.
Odendaal continued: “The stratigraphic column compiled from borehole E019 information confirms that we are drilling into typical Eastern Bushveld Complex geology.
“The UG2 intersections reflect typical widths expected for this area.
“The absence of stringers in the hanging wall which normally cause roof cave-in is absent in the three boreholes which intersected UG2 and that bodes well for future mining operations.
“With the first samples now dispatched for assessment, the Company looks forward to updating the market with its initial round of assay results in the coming weeks.”
