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Platina upgrades total resource, delivers maiden measured resource for scandium at Owendale

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Platina upgrades total resource, delivers maiden measured resource for scandium at Owendale

PlatinaResources Ltd. said July 12 that it has increased the tonnage andimproved the confidence of the scandium resource at its project in New SouthWales, Australia.

The total resource has increased by 2.2 million tonnes, or9%, to 25.9 million tonnes at a grade of 380 parts per million of scandium fortotal in-situ content of 15,100 tonnes of scandium oxide.

Platina has also delivered a maiden measured resource of 4.3million tonnes at a grade of 405 ppm of scandium for Owendale.

The remainder of the scandium resource comprises 5.9 milliontonnes at 375 ppm of scandium in the indicated category and 15.6 million tonnesat 380 ppm of scandium in the inferred category.

Platina said the size and consistency of the resourceindicates potential for high-grade mining, with 220,000 tonnes at 665 ppm ofscandium included in the measured and indicated categories.

The Australian explorer added that the highest grade areasat Owendale North remain open.

The updated resource is part of the planning process for anupcoming feasibility study, which Platina aims to complete in 2017.

The company recently raised A$2.3 million to fast-track the feasibility study.