Glacier Lake says more time needed to complete Kalahari palladium/platinum buy
Canadian exploration company Glacier Lake Resources has extended the outside date for its acquisition of the Kalahari palladium/platinum project (KalPlats), in the Vryburg district of North West, South Africa, to the end of April.
The company in November announced that it would buy controlling interest in the KalPlats project from African Thunder Platinum and Fanosi Holdings.
Glacier Lake explained that it was working with the owners of the prospecting right to secure the necessary consent from the Department of Mineral Resources and Energy.
Other conditions include the company completing a financing of at least C$15-million and the approval of the TSX-V. Glacier noted that it had not yet determined the final terms for the concurrent financing.
KalPlats is a palladium-rich project located about 350 km west of Johannesburg. The most recent mineral resource estimate on platinum, palladium and gold mineralisation, including a 3E grade was published by Coffey Mining Consultants Limited in 2014, as part of an independent technical report for African Thunder Platinum. The historical mineral estimate across the known deposits contained measured and indicated resources totaling 69.91-million tonnes, grading 1.48 g/t 3E and inferred mineral resources of 56.68-million tonnes, grading 1.62 g/t 3E.
Glacier Lake cautioned that it was not treating the historical estimate as current and had not completed sufficient work to classify the historical estimate as a current mineral resource.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation