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Styldrift II exploration

Styldrift II, which lies within the BRPM JV resource boundary and to the east of the current Styldrift I expansion project, makes  up  approximately  36%  (129Mt)  of the total BRPM JV resource. The resource currently comprises 58Mt Merensky at an average grade of 7.81g/t 4E over a resource width of 104cm and 71Mt UG2 at an average grade of 5.39g/t 4E over a resource width of 120cm. The resource depth varies between 820m and 1 500m with a consistent north-west  strike and  dipping at an average dip of 90.

Unique to the Styldrift II resource area is that it is almost exclusively underlain by the Swartklip facies resulting in less variability in mineralised envelope width, improved lateral continuity and a lower incidence of potholing and faulting when compared to the predominant Rustenburg facies found on Styldrift I and BRPM.

The size, grade, relative shallow depth and unique resource characteristics of the Styldrift II ore body therefore represent a significant investment opportunity for RBPlat and its shareholders. To this end RBPlat embarked on a detailed study and exploration drilling programme in 2010 culminating in the approval of a pre-feasibility study by the RBPlat Board in 2015. A key focus of the pre-feasibility study was the incorporation of technology and mechanisation into the overall study philosophy and mine design.

To date we have completed a total of 98 primary exploration holes equating to 125 000m of drilling (including deflections), yielding 350 Merensky intersections and 307 UG2 intersections. A good correlation between actual intersections and geological modelling has been observed.

In view of the current macro-economic climate further study work has however been deferred for foreseeable future.