News Platinum Group Metals Ltd.: Extension of the Super F Zone of the Waterberg Platinum Deposit Confirmed
Ticker Symbol: C:PTM U:PLG
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 11/14/13
Platinum Group Metals Ltd. (TSX:PTM)(NYSE MKT:PLG) ("Platinum Group" or the "Company") is pleased to report the first available assay results from drilling on the Waterberg Extension Permits in two intersections confirming the Extension of the Super F zone. These intercepts confirm significant potential beyond the current Waterberg deposit.
Drill holes WE-01 and WE-02 are located respectively 700 meters and 1.4 kilometers north of the 5.4 kilometer long Waterberg Platinum deposit area. These holes have intersected Super F mineralization grade and average true thickness of 11 meters in the predicted position and geology with metal ratios consistent with the Waterberg Deposit.
Intersections
Hole WE-01 - 10.5 meters grading 3.03 grams per tonne of platinum, palladium and gold ("3E"), including 6.76 meters of 3.74 g/t 3E
Hole WE-02 - 15.63 meters grading 3.16 grams per tonne 3E, including 7.17 meters grading 4.52 grams per tonne 3E.
Both the WE-01 and WE-02 intercepts are located on the 87% owned Waterberg Extension Prospecting Permits adjoining to the north of the Waterberg Platinum deposit (167 million tonnes grading 3.26 grams per tonne of platinum, palladium and gold with significant copper and nickel credits, Ken Lomberg QP, Sept 3, 2013, See Report www.sedar.com). The interceptions in WE-01 and WE-02 are open for expansion up and down dip and along strike. The shallowest edge of the F zone on the deposit area is at 223 meters deep and the shallowest T layers in the deposit are at 124 meters from surface.
Recent drilling on the Waterberg Extension Permits has now added 4.7 kilometers of confirmed F zone mineralization to the north of the Waterberg Platinum deposit area. Drilling continues and assays are in progress for another 8 other holes so far.
Recent drilling has now identified 23 kilometers of new Bushveld Complex including the 5.4 kilometers in the Waterberg Platinum deposit as defined in the September 3, 2013 technical report referred to above.