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Resources and Reserves
Marula
Marula holds contiguous old order mining and new order prospecting rights for a toal area of 5,720 hectares across the farms Clapham and Winnaarshoek, and portions of the farms Driekop, Forest Hill and Hackney. Implats has an effective 73% interest in Marula while the remaining 27% is held by empowerment concerns.
Current mining activities target the UG2 Reef only. A conventional breast mining method would exploit the bulk of the UG2 Mineral Reserve; hybrid mining is being undertaken until the conventional operation is fully established. Potential future mining of the Merensky Reef is pending the conclusion of the present feasibility study and commensurate project approval.
Merensky metals split
(3PGM+Au)(%)
UG2 metals split
(3PGM+Au)(%)
| as at 30 June 2007 | as at 30 June 2006 | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Orebody | Category | Channel tonnes (millions) | Grade (g/t) 3PGE+Au | Grade (g/t) 5PGE+Au | Pt oz (millions) | Channel tonnes (millions) | Grade (g/t) 3PGE+Au | Grade (g/t) 5PGE+Au | Pt oz (millions) |
| Merensky | Indicated | 50.2 | 5.12 | 5.47 | 4.7 | 44.2 | 5.12 | 5.47 | 4.2 |
| Inferred | 5.2 | 5.37 | 5.73 | 0.5 | 5.2 | 5.36 | 5.73 | 0.5 | |
| UG2 | Measured | 28.6 | 8.39 | 9.94 | 3.4 | 29.4 | 8.40 | 9.95 | 3.6 |
| Indicated | 22.0 | 8.28 | 9.80 | 2.6 | 22.0 | 8.28 | 9.80 | 2.7 | |
| Inferred | 3.5 | 7.50 | 8.88 | 0.4 | 3.5 | 7.50 | 8.88 | 0.4 | |
| Total | 109.5 | 6.70 | 7.63 | 11.6 | 104.3 | 6.82 | 7.77 | 11.4 | |
| as at 30 June 2007 | as at 30 June 2006 | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Orebody | Category | Mill tonnes (millions) | Grade (g/t) 3PGE+Au | Grade (g/t) 5PGE+Au | Pt oz (millions) | Mill tonnes (millions) | Grade (g/t) 3PGE+Au | Grade (g/t) 5PGE+Au | Pt oz (millions) |
| UG2 | Probable | 39.5 | 4.42 | 5.24 | 2.5 | 41.0 | 4.39 | 5.20 | 2.6 |
Notes
- The figures in the above statement reflect total estimates for Marula as at 30 June 2007.
- Mineral Resources are quoted inclusive of Mineral Reserves.
- The Mineral Reserves quoted reflect the grade delivered to the mill rather than an in situ channel grade quoted in respect of Mineral Resources.
- The modifying factor used in the UG2 Mineral Reserve calculation are based on the revised mine plan which envisages hybrid and conventional breast mining operations.
- Estimated geological losses have been accounted for in the Mineral Resource calculations; estimated pillar losses have not been accounted for in the Mineral Resource calculations.
- The UG2 Mineral Resource accounts for the main chromitite layer channel width only, without consideration of dilution, while the Merensky Reef Mineral Resource is based on a minimum width of 80cm.
- Grade estimates were obtained by means of co-kriging of UG2 and ordinary kriging of Merensky Reef borehole intersections.
- Changes in UG2 Mineral Resource and Mineral Reserve estimates since last year essentially reflect depletions.
- The Merensky Reef estimate was revised as part of the ongoing feasibility study, which resulted in an increase of some 10% in the Mineral Resource estimate, mainly due to the re-analysis of potential geological losses.
- Mineral Resource and Mineral Reserve grades are now also reflected in a 3PGE+Au format as opposed to the 5PGE+Au format reported previously. The applicable conversion is based on the exclusion of iridium and ruthenium from the 5PGE+Au grade estimates are not based on 3PGE+Au fire assays.
- The classification of the UG2 Mineral Reserve has been modified to the Probable Mineral Reserve category in line with other areas and commentary from third party audits.
- Rounding-off of numbers may result in minor computational discrepancies.
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