Written by 11:34 am Australia, Mining, Platina Resources, Top Stories

A Busy 2022 Q2 for Platina Resources Ltd

A Busy 2022 Q2 for Platina Resources Ltd
Sharing is caring

Platina Resources Ltd. (ASX: PGM) (Platina Resources or the “Company”) recently published the June 2022 Quarterly Report which highlighted the advancements the company had made in its many projects. Here are the highlights of the progress Platina Resources has made in the previous quarter.

Xanadu Gold Project

Platina Resources has received all statutory drilling approvals for the Xanadu Gold Project. The cultural heritage survey of the reverse circulation drill-pad sites will commence in late August. The survey is a follow to the results from the geophysics program held in 2021 which identified drill testing anomalies.

Xanadu Gold Drilling Sites

Challa Gold Project

Platina Resources received all statutory drilling approvals and completed the cultural heritage survey for the project. The maiden 2,398 air-core drilling program was also completed. Phase 1 of the program was aimed at testing some targets identified during the soil testing program. The assay results of the air-core program are expected to be announced in September 2022.

Platina Scandium Project

Platina Resources has completion of Phase 1 of new trials to produce high-grade aluminum–scandium alloy in the “Master Alloy Development Program.” The tests demonstrated successful conversion into scandium aluminide microstructures. The next phase of testing will commence in Q1 FY2023 using an intermediate product that could be produced from Platina scandium hydroxide.

Platina Resources has also commenced the stakeholder engagement program to secure operation permits at the Red Heart mine site and Condobolin.

Mt Narryer Project

Platina Resources has reduced the tenement size in the application by removing a small fraction of the state forest. The exploration license E09/2423 has yet to be granted, but Platina Resources has applied for the exploration license E09/2704 which overlaps and expands the area in the previous application.

Investor Outlook 

Platina Resources has also undertaken various corporate activities in the quarter.

  1. At the end of the quarter, Platina holds AUD 1.2M in cash and investment valued at AUD 4.2M in Major Precious Metals Corp (CSE: SIZE; 49M shares); Blue Moon Mining (TSXV: MOON; 6M shares); Alien Metals (AIM: UFO; 138M shares); and Nelson Resources (ASX: NES; 6M shares).
  2. Platina Resources has also sold 4M shares of Alien Metals.

Platina Resources Projects and Investments

Platina Resources has undertaken advancements in all four of its projects. The Company also controls 100% interest in the Xanadu Gold Project, Challa Gold Project, Mt Narryer Gold Project, and Platina Scandium Project. If you wish to learn more about Platina Resources, visit the official website.


The Content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations, and video (Content), is a service of COLITCO LLP and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is not a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Colitco LLP is neither licensed nor qualified to provide investment advice through this platform. Users should make their inquiries about any investments, and Colitco LLP strongly suggests the users seek advice from a financial adviser, stockbroker, or other professional (including taxation and legal advice), as necessary. Colitco, at this moment, disclaims any liabilities to any user for any direct, indirect, implied, punitive, special, incidental, or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Colitco LLP. Some images/music used on this website is copyrighted to their respective owner(s). Colitco LLP does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions, or are believed to be in the public domain. We have used reasonable efforts to accredit the head wherever it was indicated as or found to be necessary.

Visited 2 times, 1 visit(s) today

Sharing is caring
Close Search Window