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  • Last updated

    6:59pm on Sep 25, 2020

The US operations are supported by a pipeline of exploration stage projects, distributed throughout the Americas, including the Altar, Marathon, Rio Grande and Denison projects. During the year, the Group advanced its strategy of entering into strategic relationships with focussed exploration companies in order to advance these assets.

  • Altar

    The Altar project is a copper-gold property located in San Juan Province, Argentina, approximately 10 km from the Argentina/Chile border and 180km west of the city of San Juan. Altar is at an advanced-stage, consisting of eight wholly-owned and five optioned mining concessions and requiring additional drilling success and studies to allow transition to feasibility.

    Aldebaran Resources Inc (Aldebaran) has entered into a joint venture and option agreement to acquire up to an 80% interest in Peregrine Metals Ltd (Peregrine), a wholly-owned subsidiary of Sibanye-Stillwater, which owns the Altar copper-gold project. Aldebaran is the operator of the joint venture.

    As at 31 December 2019, Altar contains 2,614 million tonnes of mineral resources at 0.3% copper and 0.1 g/t gold (17.9 billion pounds of copper and 6.3 million ounces of gold).

    2019
    Gold mineral resources Tonnes (Mt) Grade (g/t) Gold (Moz)
    Measured 1,005.9 0.09 2.981
    Indicated 1,051.5 0.07 2.253
    Inferred 556.5 0.06 1.087
    Total 2,613.9 0.08 6.321
    2019
    Copper mineral resources Tonnes (Mt) Grade (%) Copper (Mlb)
    Measured 1,005.9 0.34 7,458.0
    Indicated 1,051.5 0.30 7,053.0
    Inferred 556.5 0.28 3,420.0
    Total 2,613.9 0.31 17,931.0
  • Rio Grande

    The Rio Grande project is a copper-gold property located in Salta Province in north-western Argentina, approximately 1,400 km north-west of Buenos Aires. We hold our interest in the project through our 19.9% shareholding in Aldebaran. The project consists of one contiguous block comprising nine mining concessions, totaling 180 claims covering an area of approximately 16,953 hectares, with an expiry date of 22 May 2020.

    As at 31 December 2019, Rio Grande contains 22.3 million tonnes of mineral resources at 0.3% copper and 0.3 g/t gold (134.7 million pounds of copper and 0.236 million ounces of gold).

    2019
    Gold mineral resources Tonnes (Mt) Grade (g/t) Gold (Moz)
    Indicated 14.1 0.36 0.162
    Inferred 8.2 0.28 0.074
    Total 22.3 0.33 0.236
    2019
    Copper mineral resources Tonnes (Mt) Grade (%) Copper (Mlb)
    Indicated 14.1 0.30 93.2
    Inferred 8.2 0.23 41.5
    Total 22.3 0.27 134.7
  • Marathon

    Marathon is a PGM-copper project located in the Province of Ontario, Canada, approximately 10 km north of the town of Marathon, on the north-eastern shore of Lake Superior.

    As at 31 December 2019, Marathon had 138.3 million tonnes at 0.22% copper and 2E+Au PGM grade of 0.89g/t (730 million pounds copper and 4.3 million ounces 2PGM+Au) declared attributable mineral resources.

    During 2019, Sibanye-Stillwater concluded an acquisition agreement with Generation Mining Limited (Gen Mining) to further the development of the PGM-copper Marathon project while Gen Mining will acquire a 51% interest in the Marathon project and form an unincorporated joint venture with Stillwater Canada Inc. The agreement will enable Gen Mining, a focused exploration company, to advance the Marathon project and to conclude further economic studies in the development of this asset. The conclusion of the transaction is expected to close prior to mid July 2019. For more information, refer to the related announcement.

    2019 2018
    PGM mineral resources Tonnes (Mt) Grade (g/t) 2E PGM (Moz) 2E PGM(Moz)
    Measured 57.4 0.8 1.562 2.693
    Indicated 65.6 0.6 1.237 1.290
    Inferred 15.3 0.5 0.238 0.001
    Total 138.3 0.7 3.037 3.984
    2019 2018
    Copper mineral resources Tonnes (Mt) Grade (%) Copper (Mlb) Copper (Mlb)
    Measured 57.4 0.20 257.3 473.5
    Indicated 65.6 0.21 310.7 254.0
    Inferred 15.3 0.23 77.8 2.6
    Total 138.3 0.21 645.8 730.1
  • Denison

    Denison, a PGM-gold project, is approximately 30km to the west southwest of the town of Sudbury, Ontario and was acquired as part of the Lonmin transaction. It includes two zones adjacent to the old workings of the Crean Hill Mine, the 109FW and 9400 Zones and is operated by Wallbridge Mining under the Sudbury Joint Venture.

    The surface and mining rights for the Denison property are currently held as patented ground by Vale but will be transferred to Wallbridge and come with no expiry date, provided mining taxes are paid on the property. Wallbridge has started the process of updating the Mineral Resources for an intended re-statement early in 2020.

    2019
    2E PGM+Au mineral resources Tonnes (Mt) Grade (g/t) 2E PGM+Au (Moz)
    Indicated 0.3 5.9 0.057
    Inferred 0.01 2.9 0.001
    Total 0.3 5.9 0.057

Reference

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