hello friends,
i see we have some more news today and wanted to post some research that has helped me understand platinum mines a bit better and perhaps will help you. remember everyone should do their own due dilegence and then form their own opinions.
the following, from a johnson matthey publication called "platinum today", and provides info on the worlds largest platinum and pgm's mining district in the world which is located in africa.
where i put **** with words between**** the words between the asterisks are my added thoughts embedded in the johnson matthey article that i use in trying to understand what we may be looking at with mcfaulds lake area.
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The Bushveld Complex
Formed about 2,000 million years ago, the Bushveld Igneous Complex (BIC) can be compared to an enormous, irregularly-shaped saucer 370 kilometres across ****irregularly- shaped saucer, might some call this a RING?****, with its centre buried deep underground but its rim exposed. It has a series of distinct layers, three of which contain economic concentrations of platinum group metals (pgm). The principal pgm-bearing reefs are the Merensky Reef and the Upper Group 2 (UG2) Reef.
The Merensky Reef has been the principal source of pgm since it was first worked in 1925. However, the other reefs have grown in importance, so that by 1999 the Merensky Reef accounted for just over 50 per cent of all the platinum-bearing ore processed in South Africa. Exploitation of the UG2 began in the 1970s and has steadily increased; in 1999, it was the source of 42 per cent of ore processed. The Platreef, briefly mined in the 1920s, was not exploited on a large scale until 1993.
Ore extraction
The Merensky and UG2 reefs are narrow - typically less than a metre thick ****THIS IS VERY IMPORTANT TO ME, IN OTHER WORDS HOW I READ THIS, YOU ARE SEARCHING FOR IN ESSENCE A VEIN SO TO SPEAK, WHICH CAN, WHEN FOUND, BE FOLLOWED. TO ME IT APPEARS, IF FOUND, YOU WILL SEE MINABLE GRADES OF PGM'S FOLLOWING THIS VERY NARROW REEF BUT NOT IN OTHER PARTS OF THE MINING PIT AREA WHICH CONTAINS OTHER MINERALS LIKE NICKEL, COPPER, ETC**** . Traditionally, both reefs were mined using narrow reef methods, and many operations continue to use these methods today.
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some more points.
i will put up some more thoughts on the merensky reef next week.
in looking at double eagle #1 discovery are we seeing the start of a "followable" pgm reef??
do you realize what a major pgm mining district in a stable and investor friendly country such as canada would be worth?
everyone should do their own research and reach their own conclusions. don't believe anything you read without confirming and analyzing to your own satisfaction before making any investment decisions.
all the best,
regards,
jsq
