Platina Resources Limited (ASX: PGM) (“Platina” or the “Company”) has commenced its first drilling program at the Mt McKenna Gold Project in Western Australia’s world-class Laverton gold district. The 7,500-metre aircore drilling campaign marks a major operational milestone for the Company, which secured the project in September 2025 and has since advanced it through detailed geological interpretation and target refinement.
Figure 1: Location of Platina Resources’ Projects
Mt McKenna lies 13 kilometres east of Laverton, directly adjacent to Genesis Minerals’ Laverton Project and approximately 20 kilometres from the large-scale Granny Smith Gold Mine. This proximity to major operations reflects the highly endowed nature of the district, which has produced millions of ounces of gold and continues to attract significant exploration investment.
The commencement of drilling follows an extensive technical review incorporating geological mapping, surface geochemistry, historical geophysical datasets, and newly acquired ground gravity data. Together, these datasets produced several stand-out targets interpreted as potential splays off the regionally significant Granite Well Fault.
Target 2: High-Priority Structural Corridor Tested First
The maiden program focuses on Target 2, located within the northern block of the Mt McKenna tenure. The program aims to assess four interpreted fault splays branching from the regional Granite Well fault within this northern target area. These structural features have been delineated using a multi-disciplinary approach similar to the Company’s broader exploration strategy outlined in previous investor presentations.
The new gravity imagery included in the November exploration update helped refine the understanding of subsurface density contrasts, key indicators of potential alteration systems or structures associated with gold deposition. Meanwhile, reinterpretation of historical magnetic data provided clearer visibility of the structural grain and faulting geometry.
The target generation process highlighted:
- Favourable lithological contacts identified by geological mapping.
- Anomalous surface geochemistry, which defined gold-bearing trends.
- Geophysical reinterpretation, improving structural models.
- Ground gravity anomalies support the presence of density variations consistent with gold systems.
Figure 2: Map showing the Mt McKenna Project area near Laverton, highlighting the interpreted Granite Well regional fault and the first target zones defined from historical datasets.
By integrating these datasets, the Company has built a strong exploration case for Target 2, making it the logical starting point for systematic drill testing.
Managing Director Confirms Strategic Importance of the Program
Platina Managing Director, Mr Corey Nolan, emphasised the priority placed on Mt McKenna following its recent acquisition: “We’ve been eager to get drilling at Mt McKenna since acquiring it in September 2025. We ran a close eye over several gold projects in Western Australia, but this project stood out as the one with the highest potential because of its location and unique geology. The program will test an area where Platina has completed a detailed geological assessment, and in proximity to where many gold nuggets have been found.”
His comments reflect the Company’s clear confidence in the project’s geological pedigree. The Laverton region hosts several major deposits characterised by structurally controlled gold systems, often associated with fault splays similar to those targeted in this campaign.
Figure 3: Managing Director Mr Corey Nolan, Platina Resources
Integration of Geological and Geophysical Expertise
The Investor Presentation, published on November 12th, underscores Platina’s approach of combining data-driven targeting with advanced geoscience. The groundwork completed before drilling included:
- Confirming structural corridors aligned with known mineralised trends.
- Identifying alteration systems through geochemistry and gravity responses.
- Using updated datasets to reinterpret historical drill results and surface anomalies.
- Applying litho-geochemical classification techniques to model potential mineralised halos.
This approach is consistent with Platina’s corporate strategy of rapidly advancing early-stage gold projects toward decision points involving partnering, sale, or continued development.
Figure 4: Rohan Deshpande, Exploration Manager of Platina Resources, is a geologist with 17 years of experience, chiefly concentrated on the Pilbara and Yilgarn Craton regions of Western Australia.
The aircore method chosen for this phase offers fast, cost-efficient coverage of large areas while enabling the identification of geochemical footprints and weathered-zone mineralisation. Samples from the current program will also support geochemical characterisation and assist in mapping potential alteration systems, which will guide future reverse circulation or diamond drilling.
Strategic Regional Position Strengthens Exploration Potential
Mt McKenna is strategically positioned within a highly endowed part of the Laverton region, eastern Yilgarn Craton, home to some of the largest Archean gold deposits in Australia. Nearby operations, including Granny Smith, Wallaby, and Sunrise Dam, demonstrate the region’s capacity to host long-life, high-margin gold mines.
Figure 5: Laverton township offers strong infrastructure, including accommodation, an airport, hospital facilities, and an experienced workforce, supported by major road access, gas and power availability, and several gold processing plants within 50 kilometres of the tenement.
The Investor Presentation highlights that Platina’s tenure sits within a geologically complex zone characterised by greenstone sequences, granitic intrusions, and well-developed regional fault systems. These geological relationships often play a defining role in gold mineralisation pathways.
The addition of Mt McKenna has materially strengthened Platina’s Western Australian exploration pipeline, providing the Company with a high-quality asset that complements its existing portfolio.
Share Price Performance Reflects Growing Market Interest
Platina Resources (ASX: PGM) trades at $0.032 as of 26th November 2025, supported by a market capitalisation of $16.76 million.
The Company has delivered solid market performance:
- Up 52.94% year-to-date
- Up 44.44% over one year
- Outperforming the sector by 25.87%
- Outpacing the ASX 200 by 41.40% over the same period
This market trend indicates growing investor confidence in Platina’s exploration progress and strategic project acquisitions.
Figure 6: Stock Performance from January till the date of the announcement, 25th November
Investor’s Outlook
Platina enters the December quarter with strong exploration momentum. The results from the 7,500-metre aircore program will provide crucial insights into the structural and geochemical architecture of Target 2. Investors can anticipate:
- Initial assay results following completion of drilling in early December
- Identification of priority zones for follow-up RC drilling
- Continued refinement of structural and geological models
- Ongoing updates across the Company’s Western Australian portfolio
As gold maintains strength in global markets and exploration investment grows in the Laverton district, Platina is well-positioned to deliver value through discovery, data-driven exploration, and disciplined project management.
