Canadian company Anooraq Resources Corporation (ARQ) has started
with the first phase of drilling on its Rietfontein farm in the
prolific northern limb of the Bushveld Igneous Complex.
A 2 000 m, five-hole initial programme will test strong
platinum-group metals (PGM) soil anomalies.
Covering 2 900 ha, Rietfontein forms part of an extensive 12 176 ha
mineral tenure held by the company’s wholly-owned South African
subsidiary, Plateau Resources.
This land package is next to one of the world’s largest openpit
platinum, palladium, rhodium, gold, nickel and copper production
complexes, operated by Anglo American Platinum Corporation.
ARQ has concluded an agreement with African Minerals, a private
affiliate of Invanhoe Capital Corporation, whereby African Minerals
has the right to earn a 50% interest and operate exploitation
programmes on the Rietfontein farm.
African Minerals controls the Turfspruit farm next to the
south-west border of Rietfontein farm and has drilled numerous
holes on Turfspruit, to within 16 m of the Rietfontein boundary.