Platina Resources (ASX: PGM) (“Platina” or “ the Company”) will acquire a 100% ownership of the Mt McKenna Gold Project through purchasing Jasper Exploration Pty Ltd. The Mt McKenna Project is a highly prospective exploration Project located east of Laverton. The 174 km2 tenement offers significant share price upside leverage to discovery success.
A Strategic Acquisition
The Company will acquire all shares in Jasper Exploration, which owns 100% interest in Mt McKenna. The Company paid $320,000 cash, issued 20 million shares and granted a 1.5% Net Smelter Royalty. An additional $25,000 cash and 1.75 million shares will be issued in consideration for finders and corporate advisory services. The Company expects to complete the deal within the next five (5) business days, enabling prompt exploration once heritage surveys finish.
Mt McKenna’s Gold-Rich Location in Laverton District
The Mt McKenna Project is located in the Laverton District, a world-class gold district that hosts numerous gold mines and deposits. The geological environment is conducive to the discovery of more than 1 million ounces of gold deposits. Furthermore, Mt McKenna lies in the Eastern Goldfields, which contain world-class, multi-million-ounce gold-bearing mega structures. The Project lies near operating mines like Granny Smith, Wallaby, and Sunrise Dam.
Mt McKenna is close to Genesis Minerals Ltd’s Laverton Project, which is expected to have 3.98 million ounces of gold. Various styles of mineralisation are expected within the area, including banded iron, shear zone, quartz lode and intrusives.
Figure 1: Location of the Mt McKenna Gold Project and Other Nearby Projects
Mt McKenna is located in the Nyalpa Pirniku area. The Company has signed Native Title agreements in the Native Title area.
Establish Infrastructure to Facilitate Mining
The Project is located only 13km east of Laverton, providing the easy access to a skilled workforce, accommodation, airport, hospital, and other required infrastructure. The tenement is traversed by major roads, as well as gas and power lines. Mt McKenna has year-round access from Laverton via the unsealed White Cliffs Road or the sealed Great Central Road. There are multiple gold processing plants within only 50km of the tenement.
Figure 2: Access to Mt McKenna From Laverton
Geological Prospects and Early-Stage Exploration Highlight Potential
The contact zone is traversed by significant mantle-tapping regional faults (Apollo and Granite Well). It provides potential conduits for gold mineralisation. High-grade gold rock chips and gold nuggets have been found near the regional faults, structures, and intrusions in the tenement. There is also potential for nickel mineralisation over the Diorite Hill layered mafic-ultramafic intrusive complex located east of the tenement.
Figure 3: Exploration Targets in Mt McKenna, the Tenement
Recent rock chip sampling has revealed stunning gold grades: 248g/t, 21g/t and 5g/t. Shallow RAB drilling intercepts include 16m at 1.05g/t Au and 15m at 0.87g/t Au. Systematic exploration targeting 20km of strike along the Greenstone Belt, transversing the Granite Well fault structure, is required. This will test the exploration potential of the tenement.
The tenement has seen limited historical exploration, including RAB drilling and Auger sampling by CRA Exploration between 1994 and 1996. Further, Placer performed soil sampling in 1999. In total, 713 drill holes were drilled. 99% of holes are below 95m depth. 90% holds are less than 60m depth. These have demonstrated the significant geological prospects.
Figure 4: Historic Surface Sampling Results
Fast-Track Exploration Planned
The Company planned a fast-track exploration. The planned exploration program includes:
- Ground gravity survey
- Reinterpretation of seismic data
- Infill soil sampling in known target areas
- Mapping and rock-chip sampling of prospect areas
- Aircore and reverse circulation drilling.
The Company’s Managing Director, Mr Corey Nolan, said, “The combination of prospective geology, encouraging early-stage exploration results, and limited historical exploration highlights Mt McKenna’s untested potential.” He also added that the Project reflects the Company’s value-creation strategy through discovery, not incremental development.
The Bigger Picture: Platina Resources Overview
Platina Resources explores high-potential gold Projects in Western Australia’s premier regions. The Company holds projects such as Xanadu, Beete, Brimstone, Binti Binti, Mt Narryer, and Jubilee. They lie across greenstone belts, craton margins, and terrane boundaries—zones favourable for significant discoveries.
Figure 5: Platina Resources’ Projects in Western Australia
Strategic Acquisition of Mt McKenna Aligned with Platina’s Growth and Discovery Pathway
This acquisition provides the Company with a near-drill-ready project located in a well-established gold district. The prospect features high-grade rock chip samples along with promising drill intercepts. It gives Platina a clear runway to deliver early hits and word-breaking exploration results. Geological structures align well with known gold systems. Additionally, local infrastructure and access support early drill drilling testing.
Investor Outlook
Platina Resources stock traded at $0.026, jumped 18.181% with massive volume of 10.288 million in the last trading session and reached near the top of its 52-week range of $0.017 to $0.027. The Company holds a market capitalisation of $13.70 million, reflecting steady investors’ confidence. The ongoing exploration at the Mt McKenna Gold Project provides the Company with clear leverage to achieve discovery success in the Laverton district. The strong geological potential, coupled with existing funding, positions Platina for near-term exploration results. Investors should watch for drilling updates that may drive further value.
