Ivanhoe Mines has intersected mineralisation in an exploration drill hole at its Flatreef project in South Africa.
The company said it had found 4.51g per tonne of platinum, palladium, rhodium and gold (4PGE) over 90.64m, at a 1 g/t platinum, palladium, rhodium cutoff in hole TMT006.
The intercept included a 40m section grading 6.88g per tonne of platinum, palladium, rhodium and gold, and 0.51% nickel and 0.21% copper.
Ivanhoe Mines executive chairman Robert Friedland said the scale of the mineralised intercept has implications for the contained PGMs and base metals in the open-ended Flatreef poly-metallic discovery.
"The combined grade and thickness of the PGMs and base metals mineralization seen in this hole far exceeds anything we've previously encountered in all of our years of delineating resources on our Platreef project," Friedland said.
The company said hole TMT006 was collared about 360m south of the location of the bulk-sample shaft, which recently secured approval from the South African Government's Department of Mineral Resources.
The high-grade mineralisation began at a depth of 803.43m below surface and continued to a depth of 894.07m.
Ivanhoe Mines previous drilling at the Flatreef discovery produced combined intercepts of the T1M and T2 zones that averaged 24m in thickness.
The company drilled a total of 24,759m in 22 holes and 11 deflections since drilling resumed at the Platreef project in June 2013.
Previous drilling represented about 70% of the planned 2013 development drilling programme, which is anticipated to be completed in mid-December.
The company is planning to undertake a 3D geophysical seismic survey over the Flatreef Discovery before starting site preparation work for the bulk-sample shaft.
The seismic survey, which is due to start soon, is anticipated to be completed in early November 2013.
Image: Ivanhoe Mines 2013 development drilling programme is anticipated to be completed in mid-December. Photo: Courtesy of FreeDigitalPhotos.net.