Southern Palladium (ASX:SPD) has reached a significant milestone in the development of its Bengwenyama PGM project in South Africa. The company has successfully completed the initial resource drilling campaign for the Prefeasibility Study (PFS) on the Eastern Limb of the Bushveld Complex.
Managing Director Johan Odendaal expressed his satisfaction with the results of the drilling campaign, highlighting the consistency of the inferred Mineral Resource grades and the robustness of the UG2 Reef. A total of 82 drillholes were completed, covering 30,746 meters, including 50 reef deflections for metallurgical sample collection.
The completion of this drilling campaign is a crucial step towards declaring indicated mineral resources for the PFS, with an update expected in Q3 CY2024. The company is also conducting metallurgical test work on chromite recovery and investigating mineralisation in the footwall of the Merensky Reef to enhance its understanding of the resource potential.
Southern Palladium is focused on advancing the Bengwenyama project, leveraging its experienced management team and strategic positioning in the global PGM market. With plans for a Definitive Feasibility Study (DFS) and ongoing exploration efforts, the company aims to realize the full potential of this world-class asset.
The Bengwenyama project is situated on the Eastern Limb of the Bushveld Complex, known for its rich PGM resources. Southern Palladium, holding a 70% stake in the project, is dedicated to delivering a successful PFS, following a geophysical survey and the initiation of a diamond drill program.
As the company continues its exploration and technical studies, the future looks promising for Southern Palladium and the Bengwenyama PGM project. Investors and stakeholders are eagerly anticipating the next updates and developments in this exciting project.
