Styldrift II exploration

STYLDRIFT II, WHICH LIES TO THE EAST OF THE CURRENT STYLDRIFT I EXPANSION PROJECT, MAKES UP APPROXIMATELY 40% OF THE TOTAL BPRM JV RESOURCE

The size, grade, relatively shallow depth and unique resource characteristics of Styldrift II represent a significant investment opportunity for RBPlat and its shareholders.

The resource currently comprises 58Mt Merensky at an average grade of 7.78g/t 4E over a resource width of 106cm and 71Mt UG2 at an average grade of 5.01g/t 4E over a resource width of 124cm.

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.

We embarked on a detailed study and exploration drilling programme in 2010, which resulted in the approval of a pre-feasibility study for Styldrift II by the RBPlat Board in 2015. 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 been deferred.