Published On: August 3rd, 2022
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.
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.
- 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).
- 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.
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