| Tue 11 Dec 2007, 9:06 | | WEZ - Wesizwe - 3d Geoseismic survey confirms integrity of Wesizwe structural |
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WEZ
WEZ
WEZ - Wesizwe - 3d Geoseismic survey confirms integrity of Wesizwe structural
model
WESIZWE PLATINUM LIMITED
Incorporated in the Republic of South Africa)
Registration number 2003/020161/06)
JSE code: WEZ
ISIN: ZAE000075859
"Wesizwe" or "the company")
3D GEOSEISMIC SURVEY CONFIRMS INTEGRITY OF WESIZWE STRUCTURAL MODEL
* Interpretation of field processed data for Wesizwe 3D Geoseismic Survey
delivered.
* Quality of data received from the 3D exercise of an exceptionally high
quality.
* Results have confirmed the structural integrity of the project`s structural
geology.
* Data has been incorporated into the Frisch-Ledig Bankable Feasibility
Study.
Says Michael Solomon, CEO: "Wesizwe is highly satisfied with the results. The 3D
Geoseismic Survey supports the drilling results released for 30 June 2007 and
confirms that there are no material concerns relating to the structural or
economic geology. As a result, confidence in the project`s ultimate viability
has been boosted. In addition, the survey confirms the relatively shallow and
flat lying nature of the reef and provides accurate structural infill
information between boreholes.
Wesizwe`s largest shareholder, the Bakubung-Ba-Ratheo community was integrally
involved with the survey process, and much of the credit for completion ahead of
schedule can be attributed to the high level of commitment displayed by the
community."
Wesizwe embarked on the Survey in June 2007 to further increase the levels of
confidence in the structural model of the orebody on the Frischgewaagd-Ledig
Complex. The Survey was conducted in partnership with Wesizwe`s neighbours, the
Western Bushveld Joint Venture (Platinum Group Metals Ltd - PTM-TSX, PLG-AMEX,
Anglo Platinum and Wesizwe) in the west and Styldrift in the east (Anglo
Platinum and Royal Bafokeng Resources).
Importantly, the Survey was conducted in parallel with Wesizwe`s Bankable
Feasibility Study (BFS). As per schedule, the first draft of the BFS has been
delivered and is currently undergoing a peer review. The results will be
released in the first quarter 2008.
11 December 2007
Enquiries
Wesizwe Platinum +27 11 994-4600
Mike Solomon, CEO
Melanie Low, Corporate Affairs Manager
www.wesizwe.com
College Hill +27 11 447 3030
Fred Cornet
Nick Williams
Investec Bank limited
Sponsor
Date: 11/12/2007 09:06:27 Produced by the JSE SENS Department.
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