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Atlatsa Resources Corporation (ATL) RSS Feed

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http://www.atlatsaresources.co.za/

 

Our assets

Atlatsa controls and operates the Bokoni Platinum Mines, located on the eastern limb of the Bushveld Complex, and maintains a controlling interest in the Ga-Phasha Project, located adjacent to Bokoni, and the Boikgantsho and Kwanda Projects.

Bokoni is an operating mine located on the north-eastern limb of the Bushveld Complex, to the north of and adjacent to the Ga- Phasha Project. The Bokoni property consists of seven mining licences covering an area of some 15,000 hectares. On May 12, 2008, the DME granted Bokoni conversion of their "old order" mining rights to "new order" mining rights.

Current mining rates are approximately 80,000 tonnes per month (tpm), at an average grade of 4.3g/t. This production is split between the Merensky and UG2 reefs at 50,000 and 30,000tpm respectively, and once processed, produces approximately 150,000 4E ounces per annum. Bokoni is the only eastern limb operation with significant Merensky production, high in platinum value with a 2:1 platinum:palladium ratio and has a high UG2 reserve grade of 5.36g/t 4E.

Previous technical studies conducted by Anglo Platinum indicated that Bokoni's maximum value is achieved at a mining rate of 375,000tpm, comprising steady-state Merensky Reef production at 120,000tpm and steady-state UG2 Reef production of 255,000tpm. The long-term growth plan for Bokoni is planned over two stages:

  • Stage 1 (2009-2014) comprises an expansion of Merensky and UG2 Reef ore production to 160,000tpm, with Merensky Reef production being increased to 120,000tpm (primarily from the Brakfontein Merensky Reef decline shaft system), and UG2 Reef production being maintained at 40,000tpm (from the Middelpunt Hill UG2 Reef decline shaft system).
  • Stage 2 (2016 onwards) contemplates further expansion of UG2 Reef production to 255,000tpm with Merensky Reef production remaining at 120,000tpm.

Both the Stage 1 and Stage 2 expansions at Bokoni are intended to access the Merensky and UG2 reefs from near surface to approximately 650m below surface. This presents a key technical and cost advantage, as there would be no need for significant refrigeration at these mining depths.

Atlatsa's plans for transforming Bokoni centre around creating a new business culture at the mine, reducing costs, increasing production, and implementing a diciplined approach to orebody management and grade control.

There is a significant opportunity for organic growth at Bokoni itself and by exploring synergies presented by the 26km continuous strike length between Bokoni and its neighbouring Ga-Phasha mineral property. Offtake agreements are in place with Anglo Platinum, and the company has an option to buy an interest in the Polokwane smelter complex.

 

 

Bokoni

Exploration projects






Atlatsa Resources Corporation engages in mining, exploring, and developing platinum group metals properties in the Bushveld Igneous Complex of South Africa. It holds a 51% interest in the Bokoni Mine covering an area of approximately 15,459.78 hectares and is located in the Sekhukhuneland district of the Limpopo Province; the Ga-Phasha project, which comprises 4 farms that cover an area of approximately 9,700 hectares and is located on the eastern limb of the BIC; and the Kwanda and Boikgantsho projects, which includes approximately 20 mineral properties covering an area of 37,492 hectares located near the town of Mokopane. The company was formerly known as Anooraq Resources Corporation and changed its name to Atlatsa Resources Corporation in May 2012. Atlatsa Resources Corporation was incorporated in 1983 and is headquartered in Sandton, South Africa. Atlatsa Resources Corporation is a subsidiary of Atlatsa Holdings Investments (Proprietary) Limited.

Atlatsa Resources Corporation
82 Grayston Drive
4th Floor
Sandton, 2146
South Africa - Map
Phone: 27 11 883 0831
Fax: 27 11 883 0863
Website: http://www.atlatsaresources.co.za/





Ga-Phasha

As a result of the completion of the Bokoni Transaction on 1 July 2009, Atlatsa effectively owns 51% of the Ga-Phasha Project.

Atlatsa and Anglo Platinum reviewed the mineral interest between April and October 2006. Several approaches were considered to optimize mining of the deposits at the Ga-Phasha Project. The review confirmed that the UG2 deposit would remain the primary focus for development, and the Merensky deposit warrants further study through additional drilling. Atlatsa intends advancing the Ga-Phasha prefeasibility study in 2010 to incorporate synergistic opportunities between the Ga-Phasha and the Bokoni mine.

Atlatsa is currently investigating opportunities to mine the Merensky Reef at Ga-Phasha using the adjacent Brakfontein infrastructure. Investigation thus far indicate encouraging results and the mining operation at the Bokoni mine may be extended through the Brakfontein haulages on 4 levels into the Klipfontein (one of the Ga-Phasha farms) lease area. Ga-Phasha lies immediately adjacent to and south of Bokoni's new Brakfontein shaft system.

The property has measured and indicated mineral resources of some 25.7Moz 4E and inferred mineral resources of 64.7Moz 4E. Studies are currently underway to assess potential synergies between Bokoni and Ga-Phasha.

Topographical map showing Bokoni and Ga-Phasha



Boikgantsho

Located on the northern limb of the Bushveld Complex, and adjacent to Anglo Platinum’s Mogalakwena Mine, this project was acquired through a land acquisition by Atlatsa in 2000 and a joint venture with Anglo Platinum in 2004. Historically, significant exploration drilling has been conducted at the project site which has led to the estimate of significant Mineral Resources in the indicated and inferred categories. Though the preliminary economic assessment was done in 2005; the results of this work showed that the project warrants further investigation. Atlatsa intends embarking on a pre-feasibility study with a view to increase the inherent value of the Boikgantsho Project. On completion of the pre-feasibility undertaken by the company, a decision will be made on the further development of the project.

Initial drilling has produced indicated mineral resources of 7.7Moz (3E), 230,000t of nickel and inferred resources of 4.1Moz 3E, 75,000t of nickel. A pre-feasibility study is underway, and initial assessments point to an open-pit operation with a 32-year life-of-mine at 400,000tpm with a low strip ratio of 1,7:1.


 

Kwanda

On May 16, 2002, Atlatsa completed an agreement with Rustenberg Platinum Mines (RPM) for the right to acquire up to an 80% interest in twelve PGM properties located on the northern limb of the Bushveld Complex. Under the agreements with RPM, Atlatsa acquired an initial 50% interest in the PGM rights to the twelve farms. These farms are collectively known as the Platreef Projects.

 

As of July 1, 2009, the joint venture agreements terminated and Kwanda Platinum Mine (Proprietary) Limited, a private company incorporated under the laws of South Africa, a wholly owned subsidiary of Bokoni Holdco, owns the respective interest in and assets relating to the Kwanda Project. As a result of the completion of the Bokoni Transaction, Atlatsa effectively owns 51% of the Kwanda Project (see group structure).

Atlatsa will continue with prospecting programs on the Kwanda Project and will also pursue opportunities to increase its knowledge base of the twelve properties originally earmarked for exploration, by information sharing with other parties conducting exploration activities in the area. A decision is expected to be taken in the medium term as to the strategic direction the company intends to embark on with regards to the Platreef Projects.


 

Reserves and Resources

 

  Merensky UG2 Total Total att
    Grade 4PGE   Grade 4E 4E 4E
  Mt g/t 4E oz Mt g/t 4E oz    
Bokoni ¹
Reserves             100% 51%
Proven 19.1 4.53 2.8 33.0 5.47 5.8 8.6 4.4
Probable 5.1 4.14 0.7 8.6 5.31 1.5 2.2 1.1
Total 24.2 4.45 3.5 41.6 5.47 7.3 10.8 5.5
Resources (excl reserves)
Measured 24.7 5.92 4.7 108.9 6.75 23.6 28.3 14.4
Indicated 29.0 5.73 5.3 73.9 6.82 16.2 21.5 10.9
Total measured and indicated 53.7 5.82 10.0 182.8 6.78 39.8 49.8 25.4
Inferred 92.0 5.55 16.4 131.3 6.78 28.6 45.0 22.9
                 
Ga-Phasha ²
Resources
Measured 8.4 4.32 1.2 24.9 6.50 5.2 6.4 3.2
Indicated 48.2 4.65 7.2 57.5 6.56 12.1 19.3 9.9
Total measured and indicated 56.6 4.61 8.4 82.3 6.54 17.3 25.7 13.1
Inferred 180.0 4.45 25.8 185.8 6.47 38.6 64.7 33.0

    Platreef     Total Total Total Total Total Total att
    Grade Ni Cu Ni Cu 3E 3E Ni Cu
  Mt g/t 4E % % 000t 000t oz oz 000t 000t
Boikgantsho ³
Resources         100% 100% 100% 51% 51% 51%
Measured                    
Indicated 176.4 1.35 0.13% 0.08% 230.3 141.1 7.7 3.9 117.0 72.0
Total measured and indicated 176.4 1.35 0.13% 0.08% 230.3 141.1 7.7 3.9 117.0 72.0
Inferred 104.0 1.23 0.14% 0.09% 145.6 93.6 4.1 2.1 74.3 47.7
 
Total Proforma
Total Reserves             10.86 5.7    
Total measured and indicated (incl reserves)             92.03 46.93 117.0 72.0
Total inferred resources             117.2 59.8 74.3 47.7
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