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Southern Palladium (ASX:SPD) awards drilling contract to Bengwenyama – The Market Herald

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  • Southern Palladium (SPD) awards drilling contract to Geomech Africa to explore its Bengwenyama Platinum Group Metal (PGM) project in South Africa
  • A 63-hole diamond drilling program will begin at the project in mid-July focusing on the shallowest part of the inferred mineral resource estimate of 18.8 million ounces
  • The second phase of drilling will then be undertaken to improve confidence in the project area and potentially allow for more accurate long-term mine life planning.
  • The first phase is expected to be completed in eight to nine months, while the second phase will be completed in four to five months.
  • Southern Palladium ends the day 4.38% in the red with shares trading at 76.5 cents

Southern Palladium (SPD) has awarded a drilling contract to Geomech Africa for the exploration of its Bengwenyama Platinum Group Metal (PGM) project in South Africa.

In addition, geological services will be provided by Minxcon, a mining and exploration consultancy based in South Africa.

A 63-hole, 24,464-metre diamond drill program will begin at Bengwenyama in mid-July focusing on the shallowest part of the inferred mineral resource estimate of 18.8 million ounces in the upper group 2 and the Merensky reefs.

The program will be completed in two phases, both of which were designed based on a detailed evaluation of previously drilled holes and target structures.

Once received, the results of the first phase of the program will be used in the scoping and pre-feasibility studies which should form the basis of a mining right application.

Following the drilling of phase one, phase two will begin to potentially support an upgrade of the mineral resource.

Phase two will improve confidence in the project area and potentially allow for more accurate long-term mine life planning.

Moreover, it has the ability to increase the overall value of the project and upgrade the area to be inferred.

Phase one is expected to be completed in eight to nine months, while phase two will be completed in four to five months.

Southern Palladium ended the day 4.38% in the red with shares trading at 76.5 cents.