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NEWS

Bauba Platinum Exploration Programme Progressing Well

2012-12-31


Results for the six months ended 31 December 2012

Johannesburg, 14 March: In releasing the results for Bauba Platinum for the six months ended 31 December 2012, the company’s newly-appointed CEO, Syd Caddy, commented: “The exploration programme on our Bushveld Complex prospects has progressed well with 4 570 metres drilled during the reporting period and an additional 2 257 metres drilled during January and February 2013.”

The first borehole (BAU-040) on the Northern Cluster has been completed with pleasing assay results indicating 3PGE+Au grades of 6,15g/t over a width of 3,90 metres on the Merensky reef and 6,25g/t over a width of 1,20 metres on the UG2 reef. The mother hole of the second bore­hole (BAU-041) has been completed and the drilling of the deflections has commenced. The drilling of this hole is expected to be complete by the end of March 2013 with the results available by the end of April 2013. Drilling of the third borehole (BAU-042) started in January 2013 and these results are expected by the end of the second quarter of 2013.

“Due to the poorer than expected results on our Central Cluster, our drilling focus will now be concentrated on the Northern Cluster where we remain excited about the potential to define a mineral resource, albeit at a very early stage,” added Mr Caddy.

For further information please contact:

Tracey Peterson on 083 408 7173 (media)
Julian Gwillim on 082 452 4389 (investor relations)

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