In late 2013 the Company acquired interests in the area of Mealy Lake Labrador, Canada through claim staking and prospector option agreements.
In 2014 Platinum Group Metals completed an airborne geophysical survey and surface prospecting. The large property position covers the same intrusive complex where Anglo American plc (the parent company to Anglo Platinum in South Africa) has the option to earn a 66% interest in Altius Mineral Corporation’s Natashquan Project through agreed expenditures of $20 million over a five year period to 2018.
The work completed by Platinum Group Metals in 2014 will hold its acquired land position in terms of government assessment work for some time. The Company will work towards a farm-out agreement on this property position in 2015 in order to focus its efforts in South Africa.
Platinum Group Metals continues to hold a royalty interest in the original founding palladium and platinum properties of the Company in the Lac Des Iles area of Thunder Bay, Ontario, Canada. These properties were optioned to North American Palladium Ltd. in 2014.