Results from recent metallurgical testwork carried out by Mintek have indicated that 4E PGM recoveries of 85.2% and nickel recoveries of 72.5% are achievable at saleable concentrate grades of 119.2 g/t 4E PGM and 10.7% nickel.
Results from a number of laboratory-scale, open-circuit flotation tests have been confirmed by locked-cycle tests on materials from the mineralized zone of the Flatreef Deposit. Two composite samples representing possible mining scenarios were tested in a simple circuit consisting of a single stage of milling followed by rougher flotation and three stages of cleaning. The locked-cycle tests were performed at a grind of 80% passing 75um and using a combination of novel reagents and industry standard reagents.
Ivanplats is preparing a PEA, based on the recently updated Mineral Resource statement, which it expects to release by Q3 2013. The Company also is in talks with two possible shaft-sinking contractors in anticipation of the approval of its Bulk Sample Application.
Exploration discovers Flatreef extension
During 2012, the Company completed an airborne geophysical survey over the Platreef Project to identify possible extensions of the Flatreef Discovery. Proprietary geophysical modelling of the survey results appear to have identified a significant southward extension of the Flatreef.
The company tested this southwest extension target area with three initial diamond-drill holes. All three drill holes intersected PGE-nickel-copper mineralization typical of the Flatreef at the predicted depths of between 668 metres and 815 metres below surface, extending the area of Flatreef mineralization and confirming the effectiveness of the Company's proprietary geophysical modelling.
The results of this program were released in November 2012. AMEC used the results of the drilling program to estimate the potential tonnage and grade of an exploration target for this new area (Target 1) and determined it could contain 31 to 62 million tonnes grading 3.36 to 5.03 g/t 4PE, 0.26% to 0.38% nickel and 0.13% to 0.19% copper over an area of 2.5 square kilometres, outside the currently stated resources.
In addition to this target, AMEC restated a previous exploration target to the southwest of Zone 1. This target (Target 2), contains an estimated additional 50 to 220 million tonnes grading 2.9 to 4.1 g/t 4PE, 0.24% to 0.32% nickel and 0.12% to 0.16% copper over an area of 7.6 square kilometres.
These exploration targets are conceptual in nature and there has been insufficient exploration to define such exploration targets as Mineral Resources. It is uncertain if further exploration will result in these exploration targets being delineated as Mineral Resources.
Kipushi Project68%-owned by IvanplatsDemocratic Republic of Congo (DRC)
Drilling planned to establish resources in unmined Big Zinc Zone
The Kipushi Project, located in the DRC's Katanga province, and southeast of the Company's Kamoa discovery, is adjacent to the town of Kipushi and approximately 30 kilometres southwest of the provincial capital of Lubumbashi. Ivanplats acquired its 68% interest in the Kipushi Project in November 2011; the balance of 32% is held by Gecamines, the DRC's state-owned mining company.
The Kipushi Project includes the high-grade, underground zinc-copper mine in the Central African Copperbelt, which produced approximately 60 million tonnes grading 11% zinc and 7% copper between 1924 and 1993. The mine also produced 12,673 tonnes of lead and approximately 278 tonnes of germanium between 1956 and 1978. Most of these metals were mined from the Kipushi Fault Zone. The mine was managed on a care-and-maintenance program between 1993 and 2011.