The Bengwenyama platinum group metal (PGM) project on the eastern limb of South Africa’s Bushveld Complex is making significant strides, as Southern Palladium announced the completion of its prefeasibility study (PFS) drilling campaign. The focus on the upper group two (UG2) reef has revealed robustness and potential for further development.
With 82 drillholes totaling 30,746 meters completed, Southern Palladium MD Johan Odendaal noted this milestone in exploration efforts. The samples returned from ALS laboratories in Johannesburg are paving the way for an updated mineral resource estimate (MRE) in the third quarter of this year, allowing for the commencement of mine planning for the PFS.
The drilling campaign, which concentrated on the eastern portion of the farm Eerstegeluk, aims to achieve indicated mineral resources status in the shallower portion of the UG2 reef. The average grade and prill split of the UG2 reef stand at 8.25 g/t of three-element PGMs and gold, and 9.88 g/t of six-element PGMs and gold, confirming the project’s potential.
Southern Palladium, listed on both the Johannesburg Stock Exchange and ASX, holds a 70% stake in Bengwenyama which is particularly palladium and rhodium orientated. The company’s chairman, former Minerals Council South Africa CEO Roger Baxter, leads the project with a focus on maximizing its resource potential.
As the geological structural plan is being updated and the MRE is set to follow shortly, the future looks promising for the Bengwenyama PGM project, according to Minxcon director Uwe Engelmann. The project’s success could have a significant impact on South Africa’s mining industry and economy.
