Drilling Report
SouthernEra Announces Update of Probable Mineral Reserve for Messina
Platinum's Phase 1 Mine
Shares Issued and Outstanding: 61,593,793
TSX: SUF
AIM: SRE
TORONTO, March 12 /CNW/ - SouthernEra Resources Limited, is pleased to
announce an updated Probable Mineral Reserve of 24.5 million tonnes at 4.98
grams per tonne 5PGE + Au, at the Phase 1 (Voorspoed Section) of the Company's
70.91% owned Messina Platinum Mine.
On the Voorspoed Section, a total of 28 boreholes (59 intersections) and
23 boreholes (61 intersections) were utilized to define the initial Merensky
and UG2 resources to a depth of 1000 metres, respectively.
Measured Mineral Resource for the Merensky and UG2 Reefs to a depth of
1000 metres on the Voorspoed Section were reported on February 8, 2001 as:
-------------------------------------------------------------------------
Reef Mining Width (cm) Tonnes (Mt) Grade Ounces (Moz)
(5PGE+Au)
g/t
-------------------------------------------------------------------------
Merensky 1.20 10.9 5.70 2.00
-------------------------------------------------------------------------
UG2 1.50 15.50 6.72 3.35
-------------------------------------------------------------------------
Total 26.4 6.31 5.35
-------------------------------------------------------------------------
Probable Mineral Reserves for the Merensky and UG2 Reefs to a depth of
1000 metres on the Voorspoed Section are now reported as:
-------------------------------------------------------------------------
Reef Mining Width (cm) Tonnes (Mt) Grade Ounces (Moz)
(5PGE+Au)
g/t
-------------------------------------------------------------------------
Merensky 1.20 10.0 4.78 1.54
-------------------------------------------------------------------------
UG2 1.50 14.5 5.13 2.39
-------------------------------------------------------------------------
Total 24.5 4.98 3.93
-------------------------------------------------------------------------
In calculating this latest Probable Mineral Reserves at an economic
cut-off of US$30/tonne, the following modifying factors were used: geological
and pillar losses 25 percent, Merensky grade dilution 10 percent, UG2 grade
dilution 8 percent and waste mining due to potholing and faulting 5 percent.
The qualified person in respect of the Phase 1 Probable Reserve statement
is Mr. Michael Cowell, B.Sc., Hons. Chief Mine Geologist, Messina Platinum
Mines Limited, a registered Professional Practicing Natural Scientist with the
South African Council for Natural Scientific Professions (SACNASP). The
resource and reserves have been classified in terms of South Africa's SAMREC
Code of reporting of mineral resources and mineral reserves, which conforms to
the requirements of Canada's National Instrument 43-101.
The previous Probable Mineral Reserve statement for the Voorspoed
Section, dated July 2002 was 5.33 million tonnes at 4.30 grams per tonne 3PGE
+ Au. The statement was prepared by Venmyn Rand (Pty) Limited an independent
technical and economic consultant. The independent competent persons include;
W.M. Stear, Ph.D., M.Sc. (Geol.) M.Sc., (Min. Eng.) FSAIMM, FAusIMM, FGSSA,
Pr.Sci.Nat., L.A. Freeman, Ph.D., (Geol.) B.Sc. Hons, GDE (Min. Eng.) MGSSA,
MSAIMM, Pr.Sci.Nat., and R.J. Lamming, B.Com (Econ.) B.Sc., Hons. (Geol)
MAusIMM, MGSSA.
SouthernEra Resources is an independent producer of platinum group metals
(PGM's) and diamonds. The company also has an extensive PGM and diamond
exploration program. The common shares are listed on the Toronto Stock
Exchange and the London Stock Exchange AIM.
For further information: PLEASE CONTACT: SouthernEra Resources Limited,
Patrick C. Evans, President and CEO; or, Dr. Sally Eyre, Vice President,
Corporate Affairs, Telephone: (416) 359-9282, Fax: (416) 359-9141,
E-mail: inbox(at)southernera.com
(SUF.)
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