Southernera Commences Phase 2 Feasibility At Messi
MESSINA LIMITED
(Registration Number: 1950/035912/06)
Share Code: MES
ISIN Code: ZAE 000004438
NEWS RELEASE
SouthernEra Commences Phase 2 Feasibility at Messina
Johannesburg, 3 October 2001 - Following the successful completion of the
financing for Phase 1 (Voorspoed Section) of its 70.4% owned Messina
Platinum Project, SouthernEra has commenced a feasibility study on Phase 2
(Doornvlei Section). Phase 2 is located 12 kilometres to the East of the
Phase 1 shaft and has a strike length of 3.8 kilometres.
Significant drilling took place on Phase 2 between 1981 and 1990, resulting
in an indicated resource to 1000 metres of 15.2 million tonnes at an average
grade of 5.8 grams of PGMs plus gold per tonne for a total of 2.8 million
ounces. A further 15.0 million tonnes grading 5.8 grams of PGMs plus gold
per tonne for a total of 2.8 million ounces were categorized as inferred.
The overall grades and metal splits for the Phase 2 resource calculations,
which take into account underground mining dilution, are as follows:
Reef
Grade
(g/T)
Proportion of Individual Platinum Group Element in Sample
By-Product Metal Credit
Reef Grade Proportion of Individual Platinum By-Product
(g/T) Group Element in Sample Metal
Credit
Pt Pd Rh Ru Ir Au Ni Cu
Merensk 4.43 53.7 27.4 2.8% 6.9% 1.4% 7.8% 0.28 0.17
y % % % %
UG2 6.65 39.5 36.9 6.2% 13.0 2.5% 1.9% 0.17 0.11
% % % % %
Similar to Phase 1, the Phase 2 resource is contained within the Merensky
and UG2 Reefs hosted by the Bushveld Platinum Complex. Both reefs outcrop
on Phase 2, dip to the south at 55 degrees and remain within the property
boundaries to a depth of greater than 2000 metres. Previous drilling
intersected economic values to a depth of 1,250 metres and it is considered
likely that these reefs will continue to be productive to at least the 2,000
metre level as they are elsewhere in the Bushveld Platinum Complex.
The existing infrastructure on Phase 2 includes a 175 metre long incline
shaft and a 3 metre diameter vertical shaft, both to a vertical depth of 100
metres. Underground development took place on the 50 and 100 metre levels.
Preparatory work for the feasibility study has commenced. Pump testing of
the vertical shaft has been completed and the dewatering process has begun.
A full assessment of the previously installed infrastructure and development
will be carried out once the dewatering has been completed. Given the
extensive work already completed at Phase 2, it is anticipated that a
bankable feasibility study will be completed by mid-2002.
SouthernEra and Messina CEO, Patrick C. Evans, said that Phase 2 is "the
second step toward our five year goal of taking the Messina Project to a
production level of 500,000 ounces of PGMs annually."
FOR FURTHER INFORMATION PLEASE CONTACT:
SouthernEra Resources Limited
Patrick C. Evans, President and CEO; or
Rudi P. Fronk, Director
Telephone: 091 416 359-9282
Fax: 091 416 359-9141
e-mail: inbox@southernera.com
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
