Platina Resources Limited (ASX: PGM) (“Platina” or “the Company”) is gearing up for an active exploration season with new aircore drilling programs set to commence in June 2025 at its Challa and Beete gold projects in Western Australia. These initiatives follow promising early-stage results and represent a significant step in advancing the Company’s gold exploration strategy across its highly prospective tenements.
At the same time, Platina is advancing its evaluation of the Xanadu Project in the Ashburton Basin, following the completion of a deep diamond drill hole. The hole revealed promising shallow mineralisation, justifying additional exploration efforts.
Figure 1: Projects of Platina Resources Limited [Platina]
Drilling Begins at Challa and Beete Gold Projects
Platina’s exploration strategy is based on unlocking the value of underexplored greenfield regions within the prolific Yilgarn Craton. The Company will commence back-to-back aircore drilling campaigns at its Challa and Beete projects, following up on significant gold anomalies and intersections encountered in previous drilling programs.
Figure 2: Challa Gold Project [Platina]
At Challa, a total of 1,690 metres across 14 aircore holes will be drilled. These will test the strike extension of a notable gold intersection of 12m @ 0.66g/t Au from 100m, including 4m @ 1.7g/t Au, identified in hole CHAC0155. The prospect lies along a northwest-trending splay of the craton-scale Challa Shear Zone—an area of significant geological interest due to its structural complexity and potential for gold mineralisation.
“The aircore drilling programs are following up promising gold intersections and anomalies from previous drilling campaigns,” said Corey Nolan, Managing Director of Platina Resources.
Meanwhile, the Beete project, located 50km southeast of Norseman, will undergo 1,536 metres of aircore drilling across 39 holes. This second-phase infill program will focus on areas where anomalous gold and arsenic values were encountered during the initial 2024 campaign. The new holes will be more closely spaced—stepping out 20m and 40m from previous intersections—to refine and expand the understanding of mineralisation within this highly prospective zone.
Figure 3: Beete Gold Project [Platina]
Xanadu Project Delivers Mixed Results but Further Promise
At its Xanadu Project, located in Western Australia’s Ashburton Basin, Platina completed a government-funded deep diamond hole, XADD027, as part of its Exploration Incentive Scheme grant. The 380-metre hole was drilled to target a reprocessed aero electromagnetic anomaly at the Cleopatra South prospect.
Figure 4: Xanadu Gold Project [Platina]
The drillhole returned 16.1m @ 0.2g/t Au from 202m within mixed sandstone-siltstone units. This shallower zone, coupled with multigenerational quartz veinlets and disseminated pyrite, suggests that a larger mineralised body may exist further south or deeper within the system.
Xanadu also benefits from a large blanket of oxide mineralisation stretching over 10km at Xanadu West, which previously supported heap leach operations at Amphitheatre. The geological setting—dominated by deep weathering, favourable mixed sediments, and contrasting dolomite lithologies—provides a compelling environment for gold deposition and future exploration.
Overcoming Challenges with Innovation and Resilience
Platina demonstrated strong operational resilience and innovation during the Xanadu drilling program, successfully navigating the complexities of the site’s highly weathered and brecciated zones. Although the geological conditions posed challenges, including core loss and weather-related delays such as those caused by Cyclone Zelia, the Company responded proactively and strategically.
Rather than rushing the process, Platina opted to run the recovered core through advanced HyLogger scanning prior to cutting. This approach ensured that valuable geological data was preserved from fragile samples that may have otherwise disintegrated. The decision highlights Platina’s technical discipline and commitment to maximising exploration insights—reinforcing its long-term, quality-driven approach to resource development.
Strategic Focus and Forward Plans
Platina continues to pursue a model of advancing early-stage exploration assets toward development, with value creation driven through targeted drilling and de-risking initiatives. With 100% ownership of its portfolio across the Yilgarn Craton and Ashburton Basin, the Company maintains full control over its strategic direction.
The upcoming drilling campaigns at Challa and Beete are poised to deliver critical data for defining the scale and continuity of mineralised zones, potentially unlocking new targets for resource development. Meanwhile, at Xanadu, the focus will shift toward shallow oxide mineralisation and structural interpretation, supported by specialist consultants and further fieldwork.
Gold Market Context Enhances Exploration Appeal
The renewed exploration efforts from Platina are occurring against a bullish backdrop in the global gold market. As of 29 May 2025, gold is trading at approximately USD 3,304.53 per ounce, reflecting a daily gain of +0.19%, and a remarkable 41.59% increase over the past year. Over a 20-year period, gold prices have surged by 692.15%, signalling sustained investor interest and favourable macroeconomic tailwinds for gold-focused companies.
Such strong price performance enhances the economic viability of exploration-stage assets and provides a supportive environment for funding, development, and strategic partnerships. For Platina Resources, the alignment of rising gold prices with well-timed drilling activity significantly boosts the Company’s risk-reward profile.
Investor’s Outlook
● Last Price / Today’s Change: AUD 0.019
● Market Capitalisation: AUD 12.46 Million
● 52-Week Range: $0.017 – $0.030
● Shares on Issue: 623,180,331
Platina Resources presents a high-upside opportunity for investors seeking exposure to emerging gold projects in Australia. With multiple exploration programs advancing simultaneously and a disciplined leadership team in place, the Company is strategically poised for discovery and value creation. Investors will be closely watching drilling results from Challa, Beete, and Xanadu, as these projects move from early-stage exploration toward potential resource definition.
