OCTOBER 21, 2019 – Great Dyke Investments (Pvt) Ltd is set to wrap up financing for its Darwendale platinum group metals project and bring it to construction phase from Q1 2020.

The Darwendale project assumes an integrated development of one of the world's largest untapped platinum group metal deposits in the Republic of Zimbabwe (the “Project”).

The Russian - Zimbabwean Darwendale platinum deposit project, being implemented by Great Dyke Investments (PVT) ltd, has nearly finished selection of a general contractor for construction of a mining and processing plant. This plant along with a smelter will process up to 10 million tons of ore to eventually produce up to 855,000 ounces (appr.27 tons) of PGMs and gold per year.

Great Dyke Investments (Pvt) Ltd (GDI), which implements the joint Russian – Zimbabwean Darwendale deposit development project, moves to the stage of design of the mining infrastructure for the Project. Large-scale geological exploration activities were successfully completed at the end of 2015. In total, 130,000 running meters (870 drill holes) were drilled, which made this Project the largest in terms of geological exploration in Zimbabwe for the past decades.

In accordance with the long-term strategy of the Darwendale Project implementation, which was approved earlier by the Board of Directors of Great Dyke Investments (Private) Limited, large-scale geological exploration works at the deposit commenced in January 2015. As of beginning of May more than 40,000 running meters have been drilled out of the total 300,000 running meters planned for drilling in 2015–2016.