Southern Palladium reveals updated resource estimates

Southern Palladium (ASX:SPD) has unveiled an updated Mineral Resource Estimate for its 70% owned Bengwenyama Platinum-Group Metal project in South Africa. The combined UG2 and Merensky Reef resources now total 40.25 million ounces, marking a notable advancement for the project. The update includes a 17% growth in the Merensky Reef Indicated Resource to 2.23 million ounces and a 54% rise in the Inferred Mineral Resources.

Southern Palladium's strategic advancement and future outlook

Southern Palladium has made considerable progress with its Bengwenyama project, highlighted by the updated Mineral Resource Estimate. The increase in PGM resources is particularly noteworthy, with the Merensky Reef Indicated Resource rising by 17% to 2.23 million ounces and Inferred Resources by 54%. The Pre-Feasibility Study is nearing completion and will integrate these new estimates, guiding future economic extraction. Positioned strategically in the Bushveld Complex, the company aims to advance the project towards development, capitalizing on the global demand for PGMs. The resource update has been validated by SRK Consulting and Minxcon, ensuring its credibility and reliability. Future developments will focus on leveraging the significant resource base to benefit from the increasing demand for platinum, palladium, and rhodium.

Executive commentary on Southern Palladium's growth

The updated Mineral Resource Estimate is a significant milestone for Southern Palladium and the Bengwenyama project. The increase in resources, particularly in the Merensky Reef, enhances the project's strategic value. We are excited to near the completion of the Pre-Feasibility Study, which will further outline the economic potential of these resources.