SouthernEra Updates Millennium Platinum Drilling Program
Platinum Reef Strike Continuity Confirmed
Shares Issued and Outstanding: 51,828,400
TSX: SUF
AIM: SRE
TORONTO, Nov. 25 /CNW/ - SouthernEra Resources is pleased to announce
initial results from the second phase drilling program at the Company's 100
percent owned Millennium Platinum Project on the Eastern Bushveld in South
Africa.
Following the successful completion of the Phase 1 drilling program in
August 2002, the company embarked on a further program to add to the
previously declared inferred resource of 10.3 million tonnes, grading 4.46
grams per tonne (5PGE+Au) containing 1.44 million ounces. This resource was
based on the drilling intersections on the farm Blaauwbank only as shown
below. As part of the initial program three holes (RK01, RK03 and RK04) were
drilled on the farm Rietkloof to confirm continuity along strike, however
these holes did not intersect reef. Subsequent interpretation of the results
of the program and the completion of an aeromagnetic survey confirmed the
presence of a fault structure which had resulted in a downward throw of the
reef by some 500 metres suggesting that the holes were terminated above the
platinum-bearing UG2 reef. To view map, please visit:
files.newswire.ca
The focus of the Phase 2 drilling program, which commenced in August
2002, was to trace strike continuity and acquire grade intercepts on the farm
Rietkloof. The results thus far have been encouraging with reef intersections
in seven out of the nine holes drilled to date.
The three drill holes from the Phase 1 program (RK01, RK03 and RK04) were
deepened and the holes intersected the reef at varying depths from 540 to 695
metres below surface. Two additional drill holes (RK05 and RK09) were drilled,
both intersecting normal reef at depths of 428 and 453 metres, respectively.
Two further drill holes in the current program (RK06 and RK10)
intersected somewhat degraded reefs, serving to delineate the westerly extent
of the resource towards the contact with granite roof rocks.
Average grades from all the Rietkloof boreholes range between 2.4 and 5.1
grams per tonne (5PGE+Au) over an average width of 1,25 metres. The lowest
grade was intersected in a wide reef, which is split by a barren pyroxenite
parting. This parting has only been intersected in one borehole to date and is
currently considered the exception to the norm.
The drilling to date has delineated a significant and open-ended reef on
Rietkloof, which will be added to the inferred resources on the Blaauwbank
farm when all the final assay results are collated. The drilling program is
ongoing on Rietkloof to outline further resources to the north. Further
results will be provided when they become available.
All drilling, logging, sampling, assaying and reporting procedures are
undertaken to strict SAMREC (South African Mineral Reporting Committee) and
JORC (Joint Ore Reserves Committee) procedural requirements and guidelines,
which are in line with the National Instrument 43-101. All field operations
are managed on SouthernEra's behalf by MSA Projects (PTY) Limited under the
supervision of Mr. K. Matier, a professional, experienced geologist registered
with the SACNASP (South African Council for Natural Scientific Professionals.)
SouthernEra Resources Limited is an independent producer of platinum
group metals (PGMs) and diamonds. The Company also has an extensive PGM and
diamond exploration program. The common shares of SouthernEra are traded on
the Toronto Stock Exchange (SUF) and the London Stock Exchange's AIM (SER).
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For further information: SouthernEra Resources Limited, Patrick C.
Evans, President and CEO, or Dr. Sally Eyre, Vice President, Corporate
Affairs, Telephone: (416) 359-9282, Fax: (416) 359-9141, e-mail:
inbox@southernera.com
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