Platina Resources Limited (ASX: PGM) (“Platina” or the “Company”) has pulled the trigger on its Phase 2 aircore drilling program at the Mt McKenna Gold Project, launching a 4,500-metre campaign in the Laverton district of Western Australia. The Company confirmed the news on 27 February 2026, sending its share price jumping 13.33% to $0.034, capping a remarkable 61.90% gain over the past twelve months.
The move arrives at a time when Australian gold explorers and producers could not ask for a more favourable backdrop. With global gold demand breaking all-time records and Australian export earnings on track to hit $60 billion this financial year, the timing for Platina’s accelerated program is hard to ignore.
Phase 2: Testing the Full Extent of a 1.5km Mineralised Structure
The 10-day drilling campaign focuses on Target 2, one of five prospective mineralised zones sitting across more than 20 kilometres of greenstone stratigraphy at Mt McKenna. The program infills earlier drill lines and tests along-strike extensions of the 1,500-metre mineralised structure and associated arsenic anomalies that Phase 1 drilling identified back in December 2025.
Figure 1: Location of Mt McKenna Gold Project in Western Australia’s Laverton district [Platina Resources]
Managing Director Corey Nolan said the Company is moving quickly to build on its early results.
“We are very pleased with the pace of activity at Laverton, with Phase 2 drilling already underway as part of our planned 20,000m program. The campaign at Target 2 is designed to quickly build on the encouraging results from Phase 1,” Mr Nolan mentioned.
The Company has also completed a ground gravity survey across Targets 3, 4 and 5, alongside an aeromagnetic survey at Target 1, both finished this week. Platina will integrate that data into its geological model to sharpen existing targets and generate new ones ahead of later drilling phases.
Heritage Clearances Open the Door for Phase 3 in March
Platina has completed a cultural heritage survey across Targets 3, 4 and 5, clearing the regulatory path for a Phase 3 aircore drilling program scheduled for late March 2026. The Company’s 2026 exploration pipeline now looks like this:
- Phase 2 aircore drilling (4,500m): underway now at Target 2 in the Laverton district
- Phase 3 aircore drilling: scheduled for late March 2026 across Targets 3, 4 and 5
- More than 20,000m of aircore and reverse circulation (RC) drilling planned across Mt McKenna, Sunrise Bore and Mt Morgans South projects in 2026
- Gravity and aeromagnetic survey data to be integrated into the geological model to generate new targets
In this context, Mr Nolan has commented, “We are advancing multiple workstreams, including gravity and aeromagnetic surveys, to refine and expand our pipeline of drill targets. With heritage clearances completed for Targets 3, 4 and 5, we are well positioned to maintain strong exploration momentum through Phase 3 in March 2026.”
Figure 2: Map of the Mt McKenna tenement showing its proximity to Laverton, with an inset highlighting the November 2025 and planned February 2026 aircore drilling locations. [Platina Resources]
About Platina Resources
Platina Resources is an Australian-based explorer focused on advancing early-stage metals projects through exploration, feasibility and permitting towards development. The Company holds a 100% interest in a portfolio of gold projects in the Yilgarn Craton in Western Australia, including Mt McKenna, Sunrise Bore and Mt Morgans South, all within the highly prospective Laverton Gold District.
With heritage clearances in place, surveys completed, and Phase 2 drilling already generating chips from the ground, Platina heads into the March quarter as one of the more active small-cap gold explorers on the ASX.
The Gold Backdrop: Record Demand, Record Prices
Platina’s renewed drilling activity arrives as global gold demand reaches extraordinary heights. According to the World Gold Council, total global gold demand exceeded 5,000 tonnes in 2025 for the first time in history, generating an unprecedented value of US$555 billion, a 45% year-on-year increase. The gold price set 53 new all-time highs during 2025 alone, with the average annual price reaching US$3,431 per ounce.
Investment demand, through gold ETFs, bars and coins, drove the surge, underpinned by geopolitical tensions, central bank buying and a weakening US dollar. Central banks purchased 863 tonnes of gold in 2025, well above the pre-2022 annual average.
For Australia, this is a once-in-a-generation export windfall. Australian gold export earnings rose 42% to $47 billion in FY2024-25 and are forecast to climb a further 28% to $60 billion in FY2025-26, which would make gold the nation’s second-largest export earner after iron ore. Western Australia, home to Platina’s Laverton projects, accounts for roughly 70% of Australia’s national gold output.
Figure 3: Infographic showing global gold demand and Australian export windfall
Investor Outlook: Small Cap, Big Momentum
Platina Resources’ (ASX: PGM) share price tells a compelling story for investors willing to look beyond the big miners. The stock has climbed 61.90% over the past year, outperforming its sector by 10.31% and the ASX 200 by an impressive 50.98%. Today’s 13.33% single-session gain on the back of the Phase 2 announcement pushed shares to $0.034, still within reach of the 52-week high of $0.045.
Share Price Snapshot (ASX: PGM, 27 February 2026)
- Last price: $0.034 (+$0.004, +13.33%)
- Market capitalisation: $21.93 million
- 52-week range: $0.018 – $0.045
- 1-year performance: +61.90%
At a market cap of $21.93 million, Platina can be considered as a micro-cap with significant leverage to exploration results. Any positive drill intercepts from Phase 2 or Phase 3 could act as a material re-rating catalyst for the stock.
