Platinum Australia Ltd (ASX: PLA; AIM: PLAA) has announced that it has upgraded its resource estimate at Kalahari project in South Africa.

It stated that it considered resource estimates for its Orion deposit in the Kalahari Platinum project (Kalplats) in South Africa has increased 13 percent to over 2.7 million tonnes at 3.33 grams per tonne platinum, palladium and gold (3E) containing 291,000 ounces.

A recent ASX release stated that, Platinum Australia Limited (ASX: PLA) (AIM:PLAA) is pleased to announce that the updated Orion and Crux (Measured Indicated + Inferred) Resources Estimates have increased the High Grade Resource at Orion by 13% to 2.72 Mt @ 3.33 g/t 3E (platinum + palladium + gold) containing 291,000 oz 3E and at Crux by 8% to 5.2 Mt @ 2.59 g/t 3E containing 436,100 oz 3E.

The updated Mineral Resource estimate have been completed for the Crux and Orion

Deposits in the Kalahari Platinum (Kalplats) Project to include a number of holes drilled in late 2008 which had not been included in the previous resource. The updated Crux and Orion Deposits are two of seven deposits which make up the currently identified Mineral Resource in the Kalplats Project.

The Crux and Orion Mineral Resource estimates were completed by Coffey Mining and are based on a 0.5 g/t 3E cut off and extend to a depth of approximately 200 metres below soil cover.

PLA Managing Director John Lewins said, ???The updated resource continues to build our confidence in the Kalplats Project and has increased the total High Grade Mineral Resource at Kalplats to 3.2 Moz 3E, with further updates on Sirius and Serpens North due by the end of this month???.

The Mineral Resource estimates for Crux and Orion are based on the results of mineralised intersections from a total of 181 and 118 drill holes respectively and in addition, detailed high resolution aeromagnetic survey interpretation, geological mapping and cross sectional interpretations. When compared to the previous Harmony and Snowden estimate, the changes in the Mineral Resource estimates for the Crux and Orion deposits are a function of increased drilling by PLA, which has improved our confidence and understanding of the continuity and structure of the mineralised layers. In addition the estimates were enhanced with the application of computer aided structural modelling and geostatistical estimation techniques applied by Coffey. The structural geological interpretation was aided by the data from a high resolution aeromagnetic survey completed by PLA which covers all of the Kalplats deposits.

At the Crux deposit, the resource has risen 8 percent to 5.2 million tonnes at 2.59 grams per tonne platinum, palladium and gold containing 436,100 ounce ounces. These new resource estimates include results from holes drilled late last year, which were not included in previous estimates.

Platinum Australia is currently developing the Smokey Hills PGM Project scheduled to commence production in 2008. This project consists of an open pit and underground mining operation with an onsite processing facility capable of producing ~100,000 oz 4E PGM per annum.

Meanwhile back in Australia, Platinum Australia Ltd is evaluating the potential development of the Panton Project with a current high grade resource of 10 Mt @ 6.1 g/t PGM.

This entry was posted on Tuesday, July 14th, 2009 at 10:43 am.