Implats’ two-pronged exploration strategy remains in place with both brownfields (evaluation drilling at, or adjacent to, our existing operations) and greenfields exploration being undertaken; the primary focus is brownfields prospecting.

The bulk of the offshore greenfields exploration continues in conjunction with third parties. The focus of this exploration is on primary platinum group mineral targets.

Implats’ strategy has been no different from that of any other company during the current global economic crisis with every effort being made to curtail exploration spending and to focus attention rather on the extension of current operations and the most promising projects in traditionally more stable and mining friendly regions.

Bushveld Complex in South Africa

Exploration around current mining operations at Impala and Marula in support of life of mine operations continued. At Impala, the main focus remained the proposed 18 Shaft block. Exploration also continued at the prospecting right areas on portions of the farms Elandsheuvel, Reinkoyalskraal, Doornspruit and Roodekraalspruit, and the farms Diepkuil and Klipgatkop, all of which are situated down dip of the present Impala mining right boundary. An extensive 3D seismic survey of this deeper portion of the mining right and prospecting right areas was successfully completed during FY2009 and the interpretation thereof is in progress. At Marula, limited infill drilling was completed to assist the current mining operation.

At Afplats exploration at the prospecting right areas on the farms Wolwekraal and Kareepoort, and portions of the farm Hartebeestpoort continued during the year. Infill drilling at Afplats’ Leeuwkop Project was also completed.

Surface drilling continued at the Tamboti project on portions of the farm Kalkfontein, and the farm Buffelshoek adjacent to the Two Rivers mine. Implats has entered into an agreement with a new resources development company, Kameni Limited, for the transfer of a large portion of the farm Kalkfontein and the farm Buffelshoek to Kameni which holds prospecting rights over an additional portion of the farm Kalkfontein. The transaction is subject to the fulfilment of certain conditions precedent. Implats has secured an off-take agreement with Kameni and will retain a 20% interest in the subsidiary holding the enlarged Tamboti project, which is to manage and fund the ongoing accelerated prospecting programme. The Implats and African Rainbow Minerals boards have respectively approved a further transaction in terms of which Implats will exchange portions 4, 5 and 6 of Kalkfontein and the entire Tweefontein prospecting rights for an additional 4% of Two Rivers, thereby taking the Implats group stake up to 49% in Two Rivers. The transaction remains subject to Two Rivers obtaining the requisite Section 11 approvals.

Exploration also continued at the Paradys Project. This grassroots project, which is located in the eastern Bushveld and is a joint venture with Endulwini Resources, targeted the Paradys diapiric antiform structure with a potential attenuated Critical Zone succession. Merensky Reef was intersected, but at great depth. Exploration was undertaken at the new Springbok Project that is situated south of Bela-Bela, but delivered no promising results.

The main focus of Implats’ exploration in the Bushveld Complex will remain around the current mining operations at Impala and Marula. Exploration activities will continue at most of the current exploration projects, but at a slower rate.

Great Dyke in Zimbabwe

At Zimplats, exploration work was suspended in FY2009 in an effort to conserve cash. Some 14 boreholes were drilled on the Mimosa South Hill deposit, the bulk of which were targeted to resolve the geology of the complex zone in the southern area.

Other southern African exploration

All projects in Botswana and Mozambique have been terminated. Limited target generation activities are being undertaken within the strategic alliance with Impact Minerals in southern Africa.

Offshore projects

Offshore exploration activities continued during the year but efforts were concentrated on various projects within the Sudbury Basin, Canada, in conjunction with Xstrata and Wallbridge Mining. Elsewhere in Canada, Implats elected to proceed with the Hele project in the Thunder Bay area in conjunction with its strategic alliance partner, HTX Minerals Ltd in the combined search for a primary PGM deposit.