| Fri 7 Jul 2006, 11:20 | | Wesizwe Platinum Limited - Drilling Results Four M |
|
WEZ
WEZ
Wesizwe Platinum Limited - Drilling Results Four Months Ended 30 June 2006
Wesizwe Platinum Limited
(Incorporated in the Republic of South Africa)
(Registration number 2003/020161/06)
JSE code: WEZ & ISIN: ZAE000075859
(the "Company" or "Wesizwe")
DRILLING RESULTS FOUR MONTHS ENDED 30 JUNE 2006
Phase III of exploration programme for Pilanesberg Project under way with
11,64% of total resource now classified as Indicated.
Total PGE (4) ounces increased to 11,492 (28 February 2006: 11,223) million
ounces.
Total PGE(4) ounces increased to 11,492 (28 February 2006: 11,223) million
ounces.
Wesizwe attributable Inferred and Indicated resources total 7,076 (28
February 2006: 6,886) million ounces.
"The drive to upgrade our established Inferred Mineral Resources to an Indicated
Mineral Resources as per the SAMREC Code has commenced and is on track in terms
of our original exploration planning. The exploration programme since listing
has added 1,1 million PGE(4) Inferred ounces to the Pilanesberg Project
resource." Mike Solomon, CEO
The Pilanesberg Project in-fill drilling programme has commenced on the farms
Frischgewaagd 96JQ, Ledig 909JQ and Mimosa 81JQ to increase the confidence of
the Merensky and UG2 Reef Mineral Resources Inferred to Indicated as per SAMREC
Code (South African Code for Reporting of Mineral Resources and Mineral
Reserves). Consideration is being given to increasing the tempo of the
programme.
Summary of results : Period under Prior
Review Period
Metres drilled : 8 244 1 415
Bore holes completed: 4 1
Deflections : 17 9
Farm Farm
Drill rigs in : 1 Frischgewaagd ptn 11 3 Frischgewaagd ptn 11
operation : 1 Frischgewaagd ptn 3&4
1 Mimosa
: 2 Ledig ptn 1,4,5&6
In terms of the current exploration focus approximately 55 hectares on
Frischgewaagd, portions 3 and 4 remain unexplored as are some 171 hectares on
Mimosa. The work programme for Zandrivierspoort 210JP is to be addressed once
the programme for the previously mentioned farms has been completed.
The table below reflects the summary results for the total estimated mineral
resources for the Pilansberg Project at 30 June 2006.
Total Attributable
Farm Reef Category Tonn PGE(4)* Ownership
-age Grade PGE(4)* PGE(4)*
(Mt) (g/t) Million Million
Ounces Ounces
Frischgewaagd
96QJ (portions
3 and 4,and 11)
Merensky Indicated 6.319 5.40 1.096 50%# 0.548
UG2 Indicated 1.631 4.61 0.242 50%# 0.121
Total All reefs Indicated 7.950 5.23 1.338 50%# 0.669
Ledig 909JQ
Merensky Inferred 8.025 5.18 1.337 100% 1.337
UG2 Inferred 9.711 4.24 1.324 100% 1.324
Frischgewaagd
96JQ (portions
3 and 4,and 11)
Merensky Inferred 18.366 6.66 3.932 50% 1.966
UG2 Inferred 25.810 4.29 3.561 50% 1.780
Total All reefs Inferred 61.912 5.10 10.154 63% 6.407
Grand total
All reefs All types 69.862 5.12 11.492 7.076
* Platinum Group Elements comprising: Platinum, palladium, rhodium and gold
# Remaining 50 per cent of portion 11 owned by Anglo Platinum Limited and
remaining 50 per cent of portions 3 and 4 owned by the Western Bushveld Joint
Venture.
Competent Person"s Report
The abovementioned independent mineral resource estimates have been prepared in
accordance with the SAMREC Code and incorporate the drilling results for both
the Merensky and UG2 reefs on the listed farms. The Competent Person, Mr DR
Young, a director of Mineral Corporation Consultancy (Proprietary) Limited, has
issued a report updating their Competent Person"s Report issued on 5 November
2005.
Mr Young"s qualifications are BSc (Hons), FAusIMM, Pr Sci Nat and his business
address is: Homestead Office Park, 65 Homestead Avenue, Bryanston 2021.
Drilling results: 1 March to 30 June 2006
Merensky reef intersection detail.
Depth Density
Reef Below (Tonne/
Deflec- Type Surface Width m3) PGE(4) Pt Pd Rh Au
BHID tion (m) (cm) (g/t) (g/t)(g/t) (g/t)(g/t)
WF01 D0 Normal 726.17 130 3.03 2.20 1.16 0.88 0.04 0.12
WF02 D0 Normal 703.65 191 3.26 4.74 3.00 1.29 0.30 0.15
WF02 D1 Normal 701.80 198 2.82 6.23 4.22 1.42 0.40 0.18
WF02 D3 Normal 701.78 200 3.32 5.25 3.29 1.45 0.24 0.26
WF02 Average Normal 702.15 196 3.13 5.37 3.46 1.40 0.31 0.20
WF05 D0 Normal 694.88 126 3.27 7.61 4.60 2.32 0.45 0.24
WF05 D1 Normal 695.15 125 3.18 10.55 7.66 2.24 0.39 0.25
WF05 D2 Normal 695.20 121 3.22 13.32 9.20 3.41 0.43 0.27
WF05 Average Normal 695.08 124 3.22 10.45 6.42 3.13 0.64 0.26
WFA01 D0 Normal 770.75 180 3.29 4.99 3.00 1.09 0.11 0.31
WFA01 D1 Normal 772.53 174 3.26 4.50 3.00 1.09 0.11 0.31
WFA01 D2 Normal 772.62 193 3.34 4.94 3.08 1.43 0.20 0.22
WFA01 Average Normal 772.58 183 3.26 4.81 3.03 1.32 0.18 0.28
WF08 D0 Normal 703.27 149 3.31 7.76 4.87 2.02 0.57 0.30
WF08 D1 Normal 703.37 151 3.34 7.55 4.76 2.13 0.33 0.33
WF08 D2 Normal 703.11 159 3.44 7.28 4.71 1.95 0.29 0.33
WF08 Average Normal 703.25 153 3.37 7.52 4.78 2.03 0.39 0.32
WF23 D0 Normal 706.91 137 3.14 5.81 3.63 1.74 0.30 0.13
WF23 D1 Normal 706.61 132 3.14 6.92 4.68 1.69 0.30 0.25
WF23 D2 Normal 706.68 134 2.83 4.60 2.98 1.17 0.30 0.15
WF23 Average Normal 706.33 134 3.04 5.81 3.78 1.55 0.31 0.18
WF61 D1 Normal 647.63 119 3.20 1.72 1.07 0.52 0.07 0.06
WF61 D2 Normal 647.88 111 3.24 4.56 2.91 1.25 0.25 0.15
WF61 D3 Normal 647.90 109 3.24 9.54 6.21 2.75 0.42 0.16
WF61 Average Normal 647.80 113 3.23 5.18 3.29 1.50 0.24 0.15
WL1/03 D0 Normal 735.76 195 3.07 4.96 3.47 1.08 0.17 0.23
WL1/07 D0 Normal 1551.66 149 3.18 6.09 3.85 1.64 0.49 0.12
WF62A D0 Single 730.61 099 3.11 9.68 6.34 2.57 0.38 0.39
Chromitite
WF62A D1 Single 730.32 105 3.01 3.31 2.08 0.92 0.13 0.18
Chromitite
WF62A D2 Single 730.81 105 2.98 5.15 3.28 1.38 0.29 0.20
Chromitite
WF62A Average Single 730.58 103 3.03 6.02 3.85 1.63 0.27 0.27
Chromitite
Merensky reef Depth Density
continued: Reef Below (Tonne/
Deflec- Type Surface Width m3) PGE(4) Pt Pd Rh Au
BHID tion (m) (cm) (g/t) (g/t)(g/t) (g/t)(g/t)
WF71 D1 Single 683.16 130 2.99 12.75 8.32 3.42 0.51 0.49
Chromitite
WF71 D2 Single 682.74 100 3.08 6.21 3.73 1.94 0.26 0.28
Chromitite
WF71 Average Single 682.95 115 3.03 9.86 6.21 2.84 0.39 0.41
Chromitite
WFA04 D3 Single 858.81 101 3.07 3.78 2.43 0.97 0.13 0.25
Chromitite
WFA04 Average Single 858.81 100 3.02 4.50 3.31 0.83 0.17 0.18
Chromitite
WF79A D1 Detached 819.08 120 3.24 3.63 2.31 0.98 0.12 0.22
WF79A D2 Detached 819.15 128 3.20 6.79 4.49 1.66 0.39 0.25
WF79A Average Detached 819.12 124 3.22 5.25 3.41 1.35 0.24 0.25
WL2/13 D0 Detached 806.48 108 3.23 7.92 5.77 1.66 0.31 0.18
WL2/50 D0 Detached 831.46 117 3.21 5.23 3.46 1.43 0.09 0.24
WL2/06 D0 Detached 865.91 114 3.19 2.21 1.45 0.58 0.13 0.04
WFA14 D0 Normal 812.38 177 3.09 5.52 3.62 1.18 0.24 0.20
Footwall
WFA14 D1 Normal 812.22 175 3.14 4.71 3.42 0.92 0.21 0.16
Footwall
WFA14 D3 Normal 812.51 172 3.14 6.22 3.61 2.12 0.24 0.25
Footwall
WFA14 Average Normal 812.23 175 3.12 5.39 3.59 1.37 0.23 0.20
Footwall
UG2 reef intersection detail
Depth Density
Reef Below (Tonne/
Deflec- Type Surface Width m3) PGE(4) Pt Pd Rh Au
BHID tion (m) (cm) (g/t) (g/t) (g/t) (g/t)(g/t)
WF02 D0 Normal 739.85 099 3.98 4.34 2.84 1.04 0.46 0.00
WF02 D1 Normal 740.11 119 3.83 5.98 3.04 2.27 0.60 0.07
WF02 D3 Normal 740.10 121 3.90 5.17 3.32 1.24 0.60 0.01
WF02 Average Normal 740.02 113 3.90 5.21 3.12 1.50 0.56 0.02
WF05 D0 Normal 730.90 136 3.82 5.24 2.89 1.71 0.53 0.12
WF05 D1 Normal 731.37 138 3.77 3.70 2.49 0.80 0.41 0.01
WF05 D2 Normal 731.15 134 3.88 5.90 3.09 2.24 0.55 0.02
WF05 Average Normal 731.14 136 3.83 4.95 2.88 1.52 0.50 0.05
WF08 D0 Normal 744.71 114 3.55 0.96 0.72 0.21 0.03 0.00
WF08 D1 Normal 745.05 106 3.56 1.78 1.17 0.39 0.22 0.00
WF08 D2 Normal 744.96 106 3.66 1.70 1.17 0.32 0.21 0.00
WF08 Average Normal 744.91 109 3.59 1.47 1.03 0.31 0.14 0.00
UG2 reef Depth Density
Continued: Reef Below (Tonne/
Deflec- Type Surface Width m3) PGE(4) Pt Pd Rh Au
BHID tion (m) (cm) (g/t) (g/t) (g/t) (g/t)(g/t)
WF23 D0 Normal 742.80 100 3.95 5.74 3.47 1.61 0.66 0.00
WF23 D1 Normal 742.69 104 3.98 5.58 3.59 1.33 0.63 0.02
WF23 D2 Normal 742.90 103 3.94 4.81 3.19 1.06 0.55 0.01
WF23 Average Normal 742.80 102 3.96 5.37 3.42 1.32 0.61 0.01
WF62A D0 Normal 767.42 194 3.73 3.14 1.97 0.72 0.43 0.01
WF62A D1 Normal 767.35 246 3.89 3.58 2.27 0.85 0.45 0.01
WF62A Average Normal 767.39 220 3.82 3.39 2.14 0.79 0.44 0.01
WL1/03 D0 Normal 769.00 118 3.77 4.69 2.91 1.29 0.49 0.00
WL1/07 D0 Normal 1588.39 156 0.00 5.17 2.51 2.16 0.49 0.01
WL2/50 D0 Normal 865.48 110 4.03 4.93 3.12 1.19 0.62 0.00
WFA14 D0 Normal 844.92 158 4.15 5.12 3.00 1.61 0.49 0.02
WFA14 D1 Normal 844.88 127 4.04 4.17 2.68 0.98 0.47 0.04
WFA14 D3 Normal 845.15 208 3.92 4.15 2.68 1.01 0.43 0.03
WFA14 Average Normal 844.98 164 4.02 4.48 2.80 1.19 0.46 0.03
WF61 D1 Regional 698.46 130 3.57 3.31 2.04 0.88 0.40 0.00
P/H
WF61 D2 Regional 698.26 106 3.63 3.13 1.85 0.95 0.33 0.00
P/H
WF61 D3 Regional 698.17 106 3.66 3.52 2.09 1.07 0.36 0.00
P/H
WF61 Average Regional 698.30 114 3.62 3.32 1.99 0.96 0.37 0.00
P/H
WFA01 D0 Regional 814.07 221 3.64 3.61 2.02 1.24 0.35 0.00
P/H
WFA01 D1 Regional 814.74 220 0.00 3.20 1.77 1.20 0.23 0.00
P/H
WFA01 Average Regional 814.41 221 3.64 3.41 1.90 1.22 0.29 0.00
P/H
Registered office : Second Floor, AMB Capital, 18 Fricker
Road, Illovo 2196
Investor relations enquiries : College Hill, Fred Cornet
Telephone +21 11 447 3030
Web site : http://www.wesizwe.com
Date: 07/07/2006 11:20:40 AM Produced by the JSE SENS Department
