Modern Mining December 2022

production by 2028

The project developer recently raised A$19 million from leading Australian and high net worth institutions and strategic investors through the simul taneous listing on the Australian Stock Exchange and Johannesburg Stock Exchange in June. The funds are being used to progress a series of drilling pro grammes aimed at taking some of its 18,8 moz JORC compliant resource from Inferred Resource category to Indicated Resource. “The Eastern Limb of the Bushveld Complex has been proven to host economic PGE deposits in both the Merensky and UG2 reefs, with numerous opera tions established along its extent, including mining heavy-weight Anglo Platinum’s Modikwa operation, which lies to the north of the Bengwenyama proj ect. Over and above the Inferred Mineral Resource,

Above: Southern Palladium’s Bengwenyama project is the last shallow undeveloped PGM deposit on the Eastern Limb of the Bushveld Complex. Left: Over the next two years, Southern Palladium intends to complete a scoping study, pre feasibility study and apply for a mining right.

of the project, construction, expected to start by 2025, will take roughly three years to complete. The Bridge Street Capital report points to a potential PGM production of between 200 000 to 250 000 3E+gold ounces per year. Progressing the drilling programme With its eye to production in the next five to six years, Southern Palladium is busy with a two-phase drill ing programme that will see the company firm up its resource.

Southern Palladium is busy with a two-phase drilling programme.

December 2022  MODERN MINING  19

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