Following the recent $10.8 million sale of its scandium project, Platina Resources has announced its intention to begin drilling on three of its gold projects in Western Australia across a five month period.
Early phase exploration activities have been completed and cultural heritage and statutory clearances approved ahead of drilling at Xanadu in the Ashburton Basin and Brimstone near Kalgoorlie in the Yilgarn Craton.
Once final cultural heritage and landowner clearances are secured, two phases of drilling will be completed at Beete later in 2023.
At Xanadu, the company will conduct a 2,250m reverse circulation drilling program at its Hermes prospect, which shares a similar mineralisation style and is situated on the same fault structure that hosts the nearby 1.4 million ounce Mt Olympus gold deposit.
Recent field work has discovered a 1km gold mineralised structure and multiple parallel zones within a broader mineralised corridor up to 80m wide.
Brimstone is located within a proven gold district in close proximity to the Penny’s Find gold deposit and 25km from the Kanowna Belle gold mine. A maiden 4,381m aircore drilling program in April identified strongly mineralised structures at the Brandy and Billabong North prospects. A 3,500m reverse circulation program is planned to be drilled at the follow up aircore targets and Garibaldi.
Beete lies within a possible extension of the Norseman greenstone belt, a prolific gold producing region. The area has not been systematically explored historically. Platina has planned a 1,200m reverse circulation program at the Beete mine area and a 10,000m aircore program across the entire tenement following up on the subtle soil anomalies overlapping geophysical targets.
Platina Managing Director, Corey Nolan, said the company has a clear strategy to add value to its portfolio of projects through the drill bit.
“Earlier exploration works have identified a number of exciting prospects worth a closer look, the drilling programs provide an opportunity for significant share price upside leverage upon discovery success,” Mr Nolan said.
