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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (44706)	10/7/2009 10:28:53 PM
From: LoneClone	Read Replies (1) \| Respond to of 197060

Platina Resources to focus on high grade gold zone in giant Greenland platinum-palladium project A positive independent scoping study on the Skaergaard platinum group metals-gold project in Greenland will now see a focus placed on a high-grade gold zone, as part of an ongoing pre-feasibility study. Author: Ross Louthean Posted: Wednesday , 07 Oct 2009 PERTH - mineweb.co.za Platina Resources Ltd (ASX: PGM) is looking to outline multi-million ounce gold zones at Skaergaard, following a scoping study review just completed by engineering group GRD Minproc. That review took in a conceptual underground development for mining 2.4 million tonnes per annum with claimed operating costs in the range of US$49-81/tonne. Managing director Robert Mosig said there was compelling evidence suggesting a potentially higher-grade gold zone (>4 grams/tonne gold plus platinum group metals (PGM) identified by another consulting group. This was in an already defined gold zone which is to be targeted by a 6,000 metres diamond drilling programme in 2010. Mosig said the study focused on the gold zone within the Skaergaard deposit for which an inferred resource totalling 106.6 million tonnes grading 1.68 g/t gold and 0.64g/t platinum and palladium for 5.77 M oz contained gold, 2.03 M oz of palladium and 0.17 M oz of contained platinum. Should next year's drilling prove positive, Platina would progress the pre-feasibility study to a "very high standard and level of detail to facilitate an efficient and rapid transition to the definitive feasibility study stage." Mosig said Skaergaard was at the forefront of a new generation of significant mineral projects in Greenland, now considered to be one of the final frontiers for the discovery of new world-class mineral deposits. The project is on Greenland's East Coast, about 400 kilometres west of geothermal power-rich Iceland. Infrastructure on site includes a 20-person accommodation village and 600 metre airstrip. Platina said excellent bench-scale metallurgical recoveries of gold, palladium and platinum were achieved from bulk samples, with up to 92.7% gold recovery via flotation. Platina owns Skaergaard 100% and has a package of PGM-gold projects in Australia including Munni Munni in Western Australia's Pilbara region, which is palladium rich. News of the positive study result today lifted Platina's share price 2 cents to A35¢.