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Eastplats Reports Mineral Resource Estimate for Barplats Zandfontein UG2 Tailings Storage Facility


Trading Symbol: ELR (TSX); EPS (JSE)

VANCOUVER, Aug. 11, 2017 /CNW/ – Eastern Platinum Limited (“Eastplats” or a “Company“) is gratified to news that a vegetable apparatus guess by SRK Consulting (South Africa) Pty Ltd (“SRK“) on a Barplats Zandfontein UG2 tailings storage trickery (“TSF“) located during Crocodile River Mine (“CRM“) has been finished and is effective as of August 1, 2017.  A sum totalled and indicated vegetable apparatus of approximately 13,680,000 tons containing 535,520 ounces of total bullion organisation elements (platinum, palladium and rhodium) (“PGE“) during an normal class of 1.218 g/t, 3,404 ounces of bullion during an normal class of 0.008g/t and 2,834,000 tons of chromium oxide during an normal class of 20.72%.


The apparatus guess for a TSF has a high turn of confidence, with 91.3% of a guess descending into a totalled difficulty and 8.7 % descending in a indicated category. 

In a opinion of SRK, a apparatus analysis reported herein is a reasonable illustration of a in-situ 3E PGEs, bullion and chromium oxide vegetable resources found in a TSF during a stream turn of sampling and validation.  The indication validations enclosed visible validations of a estimates and tellurian statistical comparisons of a information in a tailings volume occurring in TSF. Within a tailings volume, a ubiquitous trend of a 1.5 metre samples in any straight covering (interval) is celebrated by a estimates. SRK finds that altogether a estimates are unchanging with a source information and sufficient indication a class distributions.

The certainty in a Zandfontein TSF vegetable apparatus guess by SRK indicates that it can be used for a pre-feasibility investigate or feasibility study. SRK has endorsed that a pre-feasibility or feasibility investigate be undertaken to establish either a vegetable apparatus can be mined economically in a stream marketplace environment.

The vegetable apparatus guess in Table 1 conforms to a mandate of National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101“) and was prepared and accurate by Mr. A. S. Page (Pr. Sci. Nat South Africa Reg. No 400022/07), BSc (Hons), who is a competent chairman as tangible in NI 43-101.  Full sum of a methodology used in a determination of resources will be supposing in a technical news entitled “Mineral Resource Estimate for Barplats Zandfontein UG2 Tailings Storage Facility” to be filed on Eastplats’ SEDAR form during www.sedar.com.

The Company is now questioning several areas of a tailings plan during CRM and has modernized poignant work in scheming a feasibility study. Once completed, a Company will announce a comment in a NI 43-101 agreeable technical report. 

The competent chairman for a functions of NI 43-101 who authorized a essence of this news recover is Dr. Bielin Shi, PhD, MSc, FAusIMM MAIG.

Cautionary Statement Regarding Forward-Looking Information

This press recover contains “forward-looking statements” or “forward-looking information” (collectively referred to herein as “forward-looking statements“) within a definition of germane bonds legislation.  Such forward-looking statements include, though limitation, forecasts, estimates, expectations and objectives for destiny operations that are theme to a series of assumptions, risks and uncertainties, many of that are over a control of a Company.  Forward-looking statements are statements that are not chronological contribution and are generally, though not always, identified by a difference “will”, “plan”, “intends”, “may”, “will”, “could”, “expects”, “anticipates” and identical expressions. Further avowal of a risks and uncertainties confronting a Company and other forward-looking statements are discussed in a Company’s Annual Information Form and Management’s Discussion and Analysis that are accessible underneath a Company’s form on www.sedar.com. 

In particular, this press recover contains forward-looking statements regarding to: a vegetable apparatus estimates for a TSF and a credentials of a feasibility investigate on a TSF. These forward-looking statements are formed on assumptions done by and information now accessible to a Company.  Although government considers these assumptions to be reasonable formed on information now accessible to it, they might infer to be incorrect.  By their really nature, forward-looking statements engage fundamental risks and uncertainties and readers are cautioned not to place undue faith on these statements as a series of factors could means tangible formula to differ materially from a beliefs, plans, objectives, expectations, estimates and intentions voiced in such forward-looking statements.  These factors include, though are not singular to, commodity prices, reduce than approaching grades and quantities of resources, needs for additional funding, accessibility of such additional appropriation and that appropriation will be on excusable terms, mercantile conditions, banking fluctuations, foe and regulations, authorised record and risks associated to operations in unfamiliar countries.

The forward-looking statements in this press recover are done as of a date they are given and, solely as compulsory by germane bonds laws, a Company disclaims any goal or requirement to publicly refurbish or correct any forward-looking statements, either as a outcome of new information, destiny events or otherwise.

No batch exchange, bonds elect or other regulatory management has authorized or disapproved a information contained herein.

SOURCE Eastern Platinum Limited

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