| Mon 10 Sep 2007, 13:59 | | EPS - Eastplats - Update on vertical shaft commiss |
|
EPS
EPS
EPS - Eastplats - Update on vertical shaft commissioning at Crocodile River Mine
EASTERN PLATINUM LIMITED
(Incorporated in Canada)
(Canadian Registration number BC0722783)
(South African Registration number 2007/006318/10)
Share Code TSX: ELR & ISIN: CA2768551038
Share Code AIM: ELR & ISIN: CA2768551038
Share Code JSE: EPS & ISIN: CA2768551038
UPDATE ON VERTICAL SHAFT COMMISSIONING AT CROCODILE RIVER MINE
Mr. Ian Rozier, President and CEO of Eastern Platinum Limited ("Eastplats")
reports that equipping of the 415m deep, 8.5 m diameter vertical shaft, at a
cost of R150 million, is progressing well at the Zandfontein section of the
Crocodile River Mine. The headgear, which previously stood over one of the two
1000m deep shafts at Kennedy`s Vale, has successfully been repositioned over the
Zandfontein Shaft. This work has been carried out without any serious incidents
or delays.
On completion of the shaft equipping which is expected by May 2008, the shaft
will initially be used for hoisting men and material. Shortly thereafter,
commissioning for rock hoisting will take place giving an initial shaft hoisting
capacity of 120,000 tonnes per month which may be increased once ore reserve
development allows for further production increases.
Initial development of a sub-incline shaft system will take place concurrently
through the existing decline system at Zandfontein. The combination of using the
Kennedy`s Vale headgear and concurrent incline development will allow access
into the orebody below 4 level approximately 6 months earlier than would have
otherwise been possible.
Murray and Roberts Cementation is the contracting company performing this work
and to date have achieved all cost and progress milestones. RSV, a recognised
Consulting Engineering Company in the platinum industry, have assisted with
project management and application of engineering best practice.
Ian Rozier, CEO of Eastplats, stated that, "The effective equipping of the
vertical shaft at Zandfontein and the concurrent incline development will enable
us to fast track the proposed mine expansion at Crocodile River and should
result in a faster production ramp up."
Photographs of the headgear over the Zandfontein shaft can be viewed on the
Company`s website.
Total shares issued and outstanding: 667,878,194
For further information contact:
Investor Relations
Website: www.eastplats.com
Email: info@eastplats.com
#501-837 West Hastings Street,
Vancouver, BC, Canada, V6C 3N6
Tel: (604) 685-6851, Fax: (604) 685-6493
NOMAD:
Canaccord Adams Limited, London
Email: Robin.Birchall@canaccordadams.com
Clayton.Bush@canaccordadams.com
Tel: +44 20 7050 6752
JSE Sponsor:
PSG Capital (Pty) Limited, South Africa
Email: andreg@psgcapital.com
anjem@psgcapital.com
Tel: +27 21 887 9602
Date: 10/09/2007 13:59:02 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
