Site Visit Itinerary

Transcription

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2 Site Visit Itinerary February 13 th (Waterberg Site Visit) 6:30 am Breakfast at Sundown Ranch 7:15 am Bus Transport to Charter Fights at Pilanesberg 8:00/8:15 am Charter Flights from Pilanesberg to Dendron 9:20/9:35 am Charter Flights Arrive at Dendron 9:30/9:45 am Eurocopter from Dendron to Waterberg Site 9:45/10:30 am Eurocopter Arrives at Waterberg Site 10:45 am Presentation at Waterberg 11:15 Core Review at Waterberg 12:00 pm Lunch at Waterberg Site 12:45/1:30 pm Eurocopter from Waterberg to Dendron 1:00 pm/1:45 pm Eurocopter Arrives at Dendron 1:30 pm/2:00 pm Charter Flights from Dendron to OR Tambo 3:00/3:30 pm Charter flights Arrives at O.R. Tambo International Airport in Johannesburg 1

3 Safety We are working under the guidance of the DMR mine, health and safety regulations, with proper legal appointments and training. There have been no reportable incidents or accidents to date. Contractors and visitors fall under our responsibility. 2

4 Waterberg Site Specific Safety Induction Safety is our number one commitment in all our activities. To maintain safe and successful visits, the following rules are upheld: Open shoes are prohibited. Lifting of core trays is prohibited. All signage should be adhered to at all times. Beware of snakes, scorpions and spiders. Generally be aware of your surroundings. Sunburn protection should be used during extreme hot weather conditions. 3

5 Waterberg Site Specific Safety Induction Walking on core trays is prohibited. Core picked up and viewed should be returned to its original position please. Please ask for any assistance. We have trained & qualified personnel on site. Enjoy your visit 4

6 Waterberg Introduction and Potential The discovery of the Waterberg Ore Body is a result of a strong partnership since 2010 between PTM and the Japanese government (JOGMEC). 3-80m thick mineralized zones. 150m from surface. There will be mechanized mining with bulk methods. The current Waterberg JV deposit is significant in the context of the current PGM market. There is potential for several large scale mines at Waterberg with the possibility of transforming the cost curve and safety of the industry. It is REAL 223 drill holes, 581 Intersections. Worley Parson s, DRA, SGS, JOGMEC and Wits University are all actively involved. 5

7 PTM QA/QC Protocol PTM(RSA) has a holistic approach to Data Precision and Accuracy. Quality drilling. X, Y and Z coordinates are verified by an external survey company. Downhole orientation surveys are done. Logging/sampling is captured into the SABLE system and all handwritten logs with signature trails are available in the borehole files. Printed SABLE logs/sampling sheets are checked and signed off. A chain of custody letter accompanies all samples dispatched from site. Site clearances are done by external environmental company. Borehole files (per borehole) are kept on site and stored electronically at the JHB Office. The database is audited by an external QP. The mineralized zones that are used in the economic model are signed off by an external QP. A peer review by a second and a third independent QP are also in progress. 6

8 Waterberg Project Orientation Map 7

9 Regional TMI 8

10 Regional Gravity 9

11 Waterberg Project Prospecting Licenses Waterberg IV Extension Granted = km² JV Granted = km² Waterberg III Waterberg II Waterberg I 10

12 Waterberg Project I Exploration Done To Date Airborne Gravity and Magnetics (FUGRO). Structural interpretation (Xpotential). Holes drilled = 181 holes. Meters drilled = 195,885 m. Primary samples taken = 102,059. QC samples = 23,

13 Waterberg Extension Project Exploration Done To Date Airborne Gravity and Magnetics (FUGRO). Structural interpretation (Xpotential). Holes drilled on Waterberg Extension Project = 48 holes. Waterberg II=39 holes. Waterberg III + IV=9 Holes. Meters drilled 49,629m. Waterberg II 41,190m. Waterberg III + IV 8,439m. Primary samples taken 17,259. Standard samples 3,

14 Map Showing Airborne TMI (FUGRO) 13

15 Map Showing Airborne Gravity (Residual GD) 14

16 Interpreted Structure Legend Major Structures Structures Local Dykes Waterberg Extension Waterberg JV Waterberg Outcrop Archean Granite Complex Basement Basement Complex Diabase Granite Dykes and bodies Platreef Bumbeni Complex Clarens Fm, Karoo Spgrp Drakensberg Grp, Karoo Spgrp Enon Fm, Uitenhage Grp Jozini Fm, Lebombo Grp Karoo Dolorite Suite Karoo Spgrp Komatipoort Suite Letaba Fm, Lebombo Grp Movene Fm, Lebombo Grp Mpilo Fm, Bumbeni Complex Suurberg Grp Tshokwane Granophyre 15

17 Map Showing Composite Drilling Results 16

18 3D Maps Showing Grade Thickness Correlation with Basement Topography N Waterberg Extension Super F-zone N Upper edge view looking down dip Embayment's Super F-zone looking up dip N Embayment's Super F-zone 17

19 Level Plans showing Grade Thickness Blocks Relative to the Basement View 950m below surface View 650m below surface View 350m below surface 18

20 Waterberg Stratigraphic Column 19

21 West - East Section 1 Section 1 Waterberg Extension 20

22 E N E E N E N E E N E E N E N E E N E E N E E N E N E E N E West - East Section Elev N E E E N E N E E N E N E E E N E N E E N E N E E E N E N E 1200 Elev E 1100 Elev WB034 WB042 WE026 WE029 WE Elev 1000 Elev 1000 Elev Section Elev 800 Elev JV Boundary 900 Elev 800 Elev 700 Elev GRADE 2.63 LENGHT Elev 600 Elev GRADE 1.87 LENGHT Elev 500 Elev 500 Elev 400 Elev GRADE 2.16 LENGHT Elev 300 Elev GRADE 2.13 LENGHT Elev 200 Elev 200 Elev 100 Elev 0 Elev GRADE 4.11 LENGHT Elev 1: Elev WATERBERG Waterberg EXTENTION Extension West East Section Elev Scale 1: Date: 25/08/ Elev 21

23 -9100 E N E N E E N E N E N E E N E N E E N E N E N E E N E N E N E E West - East Section Elev E E N E N E N E E N E N E E N N E E N E E N N E E N E N E E N E 1200 Elev 1100 Elev WE017 WE018 WE008 WE019 Section Elev 1000 Elev 900 Elev 800 Elev JV Boundary JV Boundary 1000 Elev 900 Elev 800 Elev 700 Elev 700 Elev 600 Elev GRADE 3.39 LENGHT Elev 500 Elev GRADE 0.85 LENGHT 25 GRADE 4.86 LENGHT Elev 400 Elev 400 Elev 300 Elev 200 Elev GRADE 2.00 LENGHT Elev 200 Elev 100 Elev 100 Elev 1: Elev WATERBERG EXTENTION 0 Elev West East Section Elev Scale 1: Date: 25/08/14 Waterberg Extension -100 Elev 22

24 Waterberg I and II Inferred Mineral Resources (June 2014) Waterberg II Waterberg I 23

25 Conclusion Waterberg I + II There is a direct correlation between content and basement shape. The F-Zone continues towards the North and is still open ended. The grade thickness plots confirm the extension has good potential for larger areas of higher grade thickness. The main F-Zone "feeder" has not been discovered. M Zone still to be found. Waterberg I was the subject of an earlier PEA and is the subject of a PFS. Considering Waterberg II there is the opportunity to lower costs and increase scale. The Waterberg II Extension is a standalone potential mine. Including the JV down dip resources there are 9.1M inferred ounces. The resource is currently divided between WB II extension 6.8M oz and JV down dip 2.3M oz. Recent holes expands the potential beyond a structural zone at the north end of Waterberg II onto Waterberg III. 24

26 Waterberg Extension Project WB III and WB IV 25

27 Waterberg III Potential Resource Strike length of 5.6km WE049 intersected low grade T zone and a F zone intersection of 3.13g/t 2E including a high grade cut of 6.03g/t 2E 26

28 Waterberg IV Drilling Results 27

29 Waterberg IV Exploration Area Strike length of 7km. An area of 550 plus km 2. Shape of the Bushveld is open. Intercepts of E. Better than some of the current UG-2 mines. 28

30 Conclusion Waterberg III and IV The discovery is very opportune. The indication and interpretation from the airborne gravity and current drillholes is that the BC does continue northwards beyond Waterberg II. In Waterberg III the T-Zone has been intersected in WE046 with a local low grade. This opens an area for the potential of higher-grade facies. WE046D1 has intersected F-Zone at m with a grade of 3.13g/t 2E and a thickness of 11.35m. Drilling in Waterberg IV has intersected mineralization and is open for exploration. A large area of potential shallow unexplored BC exists on the western side of the property. 29

31 Questions? 30

32 Waterberg Project - PFS Progress 31

33 DRA Global Footprint PROJECTS: ANGOLA AUSTRALIA BOTSWANA BRAZIL BURKINA FASO CANADA CHINA DRC GABON GHANA INDONESIA KAZAKHSTAN LIBERIA MADAGASCAR MALI MOROCCO MOZAMBIQUE NAMIBIA PERU RUSSIA SOUTH AFRICA USA TANZANIA ZAMBIA ZIMBABWE Offices in Africa, Australia, North & South America, China, India, Oman, UK 1600 Project multi-disciplinary engineers and support staff over 500 projects completed successfully around the world over 2100 Operations staff 32

34 DRA Platinum Projects PLATINUM PROFILE DRA have designed and constructed over 40 concentrators in the southern region of Africa over the last 10 years. As a result, DRA has been instrumental in about eighty percent of platinum plants in South Africa and Zimbabwe, which have a combined throughput of approximately 40 Mtpa. Mining and surface Infrastructure Design, Engineering, Procurement and Construction Management to suit. 33

35 WATERBERG PLATINUM PFS DRA ORGANOGRAM Management Structure Head Office Support DRA E&I General Manager Ian Gebbie DRA Engineering Director Otto Koren DRA Process DRA Mining Director Director Glen Bezuidenhout Tertius van Niekerk DRA Internal Consultants Winder Systems John Hartslief Process Val Coetzee Process (Comminution) Paul Morgan E,C&I Ron Liddiard PTM Thys Uys DRA Qualified Persons Mining Gert Roets Infrastructure Graham Smith Process Val Coetzee DRA Study Sponsor Paul Howard Study Manager Greg Ruiter Senior Mining Engineer Jaco Smit Civil & Infrastructure Engineer Trevor Morris Snr Process Engineer Odette de Beer Project Engineer (Mechanical) Kurt Engel Snr E,C&I Engineer TBA Estimating Manager Greg Lloyd Cost Controller (part time) Priscilla Ambrosaeo Mining Engineer Ulrich Bester Snr Process Engineer Louise Lintvelt Drawing Office Snr Electrical Engineer TBA Estimating Manager (Mining) Nico Cromhout Planner (part time) Alwyn Kruger Winder Systems Mechanical Engineer TBA Process Engineer Danny du Pisani Snr C&I Engineer TBA Estimators TBA Project Administrator (part time) Heather Wiggill 34

36 DRA - Mogalakwena Platinum 35

37 DRA Pilanesberg Platinum 36

38 DRA Unki Platinum 37

39 DRA Everest Platinum 38

40 DRA Maseve Platinum 39

41 Site Infrastructure and Bulk Services Surface layout pending Mine Access design and layout Concentrator positioned to minimise transportation costs TSF site located away from established village Road access route identified Possible housing site being investigated at Bochum Electricity Supply well advanced Cost Est. done. Budget Quote stage Raw Water Supply On board with Dept. Water and Sanitation 40

42 Goedetrouw Three route options for the 132kV overhead line Eskom Borutho 400/132kV Substation 41

43 Bulk Water Supply Option Map 42

44 In Conclusion DRA Team Platinum Experience In particular the Northern Limb - Ivanhoe engineer Assigned senior engineers in line with potential scale PTM Team Strong and experienced in projects and mining as Owner and Operator of the Maseve Mine and Waterberg JV Recent additions to full time team adds depth for decisions PFS on track for completion mid 2015 A resource update expected shortly from recent drilling Mining and Access methods: Option Studied & Trade-Offs underway Metallurgical Test Work nearing completion 43