Modern Mining May 2016

MINING News

The processing plant at the Maseve mine utilises a standard MF2 circuit configuration and is designed to treat ore at a rate of 165 000 tonnes/month. This photo shows the flotation circuit, concentrator and filter press (photo: Platinum Group Metals).

Platinum Group Metals, listed on the TSX and NYSE, reports that during April 2016 the new Maseve mine, also known as the WBJV Project 1 Platinum Mine, produced approximately 1 700 ‘4E ounces’ of platinum, palladium, rhodium and gold. The mill continues to perform well with recoveries and ton- nage throughput capacity meeting or exceeding targets. Maseve – near Sun City in the Western Bushveld – is reportedly operating with a good safety record and key man- agement and contractors are in place. Commissioning of the mill was completed in March 2016. During February, March and April, a majority of milled tonnes were sourced from lower grade development muck mined from primary development along the Merensky Reef. At present, stoped mining tonnes are increasing as a percentage of mill feed. Mining has now exposed 29 ends in Merensky Reef and set up and mining in these areas con- tinues. Reconciliation from underground sampling to grade thickness in the current NI 43-101 technical report for the Maseve resource plans is good. Primary headings into the important Block 11, for planned mechanised room and pillar mining, are now (early May) within 250 m and two-and-a-half months of initial access. As a result of the delay in ramp up announced in Platinum Group’s Q2 report, the recently updated mine plan for Maseve calls for approximately 110 000 ounces to be produced to the end of April 2017. This compares to previous guidance of 116 000 ounces in calendar 2016.  Maseve mill meets – and exceeds – its targets

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May 2016  MODERN MINING  15