ASX- and JSE-listed Southern Palladium, which is developing the Bengwenyama platinum group metals project on the eastern limb of the Bushveld Complex, in South Africa, says the latest assay results of an ongoing drill programme continue to confirm the consistency of the grade and the continuity of the upper group two (UG2) reef at the project.
"Both the grade and the reef width align well with the Joint Ore Reserve Committee-compliant mineral resource released on July 10. The process of updating the geological and estimation model for the second mineral resource update is under way and is expected to be finalised in the fourth quarter.
"With the collection of additional drillhole intersections and more data on the UG2, we now have enough information to begin compiling a meaningful facies plan, which is currently in development," MD Johan Odendaal comments.
He adds that there are indications of higher reef grades toward the northwest of the current drilling area, saying this is promising for future mining operations in this resource block.
Southern Palladium has completed 19 477 m of drilling as part of the current drilling programme, with assay results for 39 UG2 intersections and ten Merensky reef intersections having been received from the laboratory.
An further 19 UG2 drillhole intersections and two Merensky reef drillhole intersections have been submitted to the laboratory.
The company says the reef intersections continue to confirm the average grade of the UG2 chromitite seam with an average platinum, palladium, rhodium and gold grade of 8 g/t and an average platinum, palladium, rhodium, ruthenium, osmium and iridium grade of 9.63 g/t.
Further, the prill split remains largely unchanged at about 44% platinum, 44% palladium, 10% rhodium and 2% gold.