Aug 29 2015
Platinum Group Metals Ltd. ("Platinum Group Metals" or the "Company") reports that further to its news release dated July 15, 2015 announcing an updated mineral resource and reserve estimate on the Company's 82.9% owned WBJV Project 1 Platinum Mine located near Rustenburg, South Africa, it has today filed the associated National Instrument 43-101 technical report.
The report, entitled "An Independent Technical Report on the Maseve Project (WBJV Project areas 1 and 1A) located on the Western Limb of the Bushveld Igneous Complex, South Africa" is dated effective July 15, 2015 and was prepared by Charles J Muller (B. Sc. (Hons) Geology) Pri. Sci. Nat., of CJM Consulting (Pty) Ltd.; Gert Roets (B. Eng. Mining), Pr. Eng. (ECSA), of DRA Projects; and Gordon Cunningham, B. Eng. (Chemical), Pr. Eng. (ECSA) of Turnberry Projects (Pty) Ltd., supporting the disclosure of the updated mineral resource and reserve estimate. A copy of the report can be found at www.sedar.com and on the Company's website.
About Platinum Group Metals
Platinum Group Metals Ltd., based in Johannesburg, South Africa and Vancouver, Canada, has a successful track record with more than 20 years of experience in exploration, mine discovery, mine construction and mine operations. Formed in 2000, Platinum Group holds significant mineral rights in the Bushveld Igneous Complex of South Africa, which is host to over 70% of the world's primary platinum production. The Company is currently focused on moving its first, high-grade, near-surface Western Bushveld Joint Venture (WBJV) Project 1 platinum deposit, to production in the calendar fourth quarter of 2015.
Platinum Group has expanded its exploration efforts on the North Limb of the Bushveld Complex where it is focused on the exploration, resource update, and pre-feasibility study of the 58.65% owned Waterberg platinum and palladium deposit. On July 22, 2015 the declared Mineral Resources at Waterberg on a 100% project basis increased to an estimated 25.64 million ounces 3E in the Inferred category plus 12.61 million ounces 3E in the Indicated category (Inferred 246 million tonnes grading 3.25 g/t 3E (0.98 g/t Pt, 2.11 g/t Pd, 0.16 g/t Au, 2.50 g/t cut-off) plus Indicated 121 million tonnes grading 3.24 g/t 3E (0.97g/t Pt, 2.11 g/t Pd, 0.16g/t Au, 2.5 g/t cut-off)). A technical report authored by an independent qualified person with respect to July 22, 2015 Waterberg Mineral Resource is planned to be filed on www.sedar.com by September 5, 2015.
The Company is the operator of the New Waterberg JV Project with Japan Oil, Gas and Metals National Corporation and South African empowerment partner Mnombo Wethu Consultants (Pty) Ltd. The Waterberg Project is being consolidated to one ownership structure (May 26, 2015) and is currently the subject of a pre-feasibility study.
The Toronto Stock Exchange and the NYSE MKT LLC have not reviewed and do not accept responsibility for the accuracy or adequacy of this news release, which has been prepared by management.
On behalf of the Board of Platinum Group Metals Ltd.
R. Michael Jones, President and CEO
Source: http://www.platinumgroupmetals.net/