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Prospect: Ghost Mountain
Location
: Ghost Mountain consists of portions of five adjoining farms (Tweefontein, Klippunt, Frischgewaagd, Zwakwater and Rietfontein) totaling 8,600ha of area. The properties are situated immediately north and east of the Two Rivers Platinum mine (Dwarsrivier) and south east of the Kennedy’s Vale project. Exploration of this property does not target the traditional PGE bearing horizons; rather it targets a “Platreef Contact” type reef found in this locality. This has resulted in two initial PGE targets:
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Early on a Chromitite Capped Stock work feature was identified in the eastern area of the project, yielding considerable PGE grades between 1.08 – 7.76g/t 3PGE+Au. The nature of this feature though makes it of limited economic potential.
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Following a detailed sampling program, the “Contact Reef” target has been identified, with a first phase of drilling having been completed. Given its 50m width, assaying of targeted horizons is being carried out to ascertain its PGE bearing potential.
Milestone:
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2nd Q 06
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Conclusion of BEE Transaction for Nkwe Platinum SA (Pty) Ltd, to comply with the MPRDA, to allow for the issue of the prospecting rights.
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4th Q 06
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Finalize the assay results of the first phase drilling of the “Contact Reef”, to asses the PGE potential of the target mineralization.
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