PERTH (miningweekly.com) – ASX-listed project developer Platina Resources has reported a 127% increase in the high-grade mineral resource at its Owendale scandium-cobalt project, in New South Wales.
The project is now estimated to host some 1.54-million tonnes of resource, at 675 parts per million scandium, 0.32% platinum, 0.16% nickel and 0.14% cobalt for 1 600 t of scandium, 16 000 oz of platinum, 2 500 t of nickel and 2 100 t of cobalt.
Platina said on Wednesday that the new mineral resource has positioned Owendale as the largest and highest-grade scandium, cobalt and platinum deposit so far reported.
“The Owendale resource expansion provides an upgrade to our measured and indicated scandium resource at Owendale which will form the basis for the upcoming studies, including mine planning and operations activities,” said Platina MD Robert Mosig.
“An important focus in the short term is to assess the optimal strategy to unlock shareholder value from Owendale’s high-grade cobalt potential,” he said.
Platina will assess the potential economics of cobalt by-product credits as part of an upcoming feasibility study at Owendale.