Exploration Roundup May 2011 9th May 2011
Global Exploration Update Platinum Group Metals Ltd. (12/04/11)
Platinum Group Metals Ltd is to be active in platinum exploration and progress with six drilling projects in South Africa and Canada throughout the rest of 2011.
The firm has reactivated its exploration programme in Canada, near Thuder Bay Ontario, adding 12 new properties covering 532 sq/km.
Two of these properties have advanced to an initial drill testing phase based on a recently completed airborne geophysics survey combined with ongoing geology and geochemistry compilation, the company said.
Meanwhile, exploration at four South African properties is advancing well, with drilling continuing at its WBJV Project 1, Sable Joint Venture, Waterberg Joint Venture and War Springs.
R Michael Jones, president of Platinum Group Metals, said the remainder of 2011 will be "pivotal" for the company.
"In addition to building a 275,000 oz-per-year platinum mine we have a very active exploration profile," he explained.
"Exploration at the mine site [WBJV Project 1] is also ongoing. The diversification of our platinum exposure and exploration upside are distinguishing features of our company compared to the other North American listed platinum companies."
South Africa Mine Right Review Uncovered Violations-Minister (18/04/11)
A number of prospecting mine rights could be cancelled by South African authorities after an audit uncovered a number of violations.
The country's minister for mineral resources, Susan Shabangu, said a review of 3,266 prospecting rights identified a series of compliance problems, resulting in over 1,000 cancellation notices being issued.
Shabangu said: "These statutory notices are at various stages of execution and these could be revoked.
"I am not at liberty to disclose the identity of the affected entities. The affected entities know who they are and the law is very clear in terms of processes to be followed in this regard."
The minister also reiterated that the government is pressing ahead with reshaping mining law and has launched a new online application system.
A moratorium on prospecting rights that was imposed last year to allow for the audit has now been lifted, except in Mpumalanga province, where it will remain in place until the end of September.
Avalanche of interest as SA’s minerals cadastre goes live on Internet (18/04/11)
A new online tool to apply for prospecting rights in South Africa received strong interest in the first few hours of its going live.
The new Mineral Regulation Administration (Samrad) online system, which covers South Africa's 52 commodities, recorded more than 1,000 registrations in three hours.
According to the Department of Mineral Resources (DMR), the Samrad system will end duplication of rights, and it offers a thorough illustration of all the country's geographical features.
The system comes ahead of the amendment to the Mineral and Petroleum Resources Development Act.
Director-general of mineral regulation at the DMR Joel Raphela believes the new tool will speed up mining exploration.
"We're confident that this system will ensure that there is growth for mining, which is one of the key economic drivers of our New Growth Path," he said.
Sylvania reports record quarterly platinum production (19/04/11)
Sylvania Platinum, which has beaten its production targets, is advancing well with its near-surface exploration programme at its new Volspruit mine.
Bulk sampling, Mintec float test results and direct-current smelting trial prefeasibility results are all under way.
The company's exploration programme at its Northern Limb assets is also progressing well, the firm said in statement.
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