Published On: July 31st, 2022
Platina Resources Limited (ASX: PGM) (Platina Resources or the “Company”) is a Western Australia-based mining and exploration company. Platina Resources has a portfolio of specialty metal projects, precious metals projects, base metals projects, and investments in Western Australia, Canada, and Greenland.
Platina Resources is leveraging technical experience and expertise to target one-million-ounce gold deposits at Xanadu in Ashburton Basin, and Challa in Yilgarn Craton. The Company is focused on returning shareholder value using early-stage metal projects in its portfolio.
Platina Resources Portfolio
The Xanadu Gold Project is located in the Ashburton Basin, 7 km from Mt Olympus Gold Project. The project comprises seven prospecting and five exploration licenses covering an area of 498 km2. Platina Resources has conducted an induced polarization survey for a series of gold occurrences along a 7 km target zone of the Duck Creek Dolomite. Several other shallow drilling programs and historical gold heap leach operations have already been conducted.
The Challa Gold Project was acquired in mid-2020, and Platina Resources holds 100% interest in the project. The project is located between Mt Magnet and Sandstone gold districts in Western Australia and about 500 km northeast of Perth. The Sandstone province has produced over 1.3 million ounces of gold since 1891. The project lies in an area with more than 50 gold occurrences in the Paynesville Gold Trend.
Platina Resources holds 100% interest in the Platina Scandium Project located in New South Wales. The project is located 350 km west of Sydney. The project tenement is one of the largest deposits of highest-grade scandium. Also known as the Owendale Project, the project has the potential to be Australia’s first scandium producer with high scandium grades in addition to cobalt, platinum, and nickel deposits.
Platina Resources conducted a definitive feasibility study in December 2018 and confirmed the technical and financial viability of constructing an open-cut mining operation and producing 20 tons of scandium oxide per year. The study highlights:
- Low capital expenditure for the company as lightweight aluminum–scandium demand is growing.
- Scandium resources are amenable to simple, low-cost, open-cut mining techniques.
- Ore mined will be processed through a conventional HPAL circuit to produce 99.99% purity scandium oxide.
- The project can use the existing industrial site in Condobolin for labor, water, power, transportation, and additional resources.
Major Precious Metals – share investment
Platina holds 49 million shares in Canadian-listed Major Precious Metals (NEO: SIZE). Major Precious Metals’ flagship project in Greenland, the Skaergaard Project, is one of the largest undeveloped deposits of gold and palladium outside South Africa and Russia.
Alien Metals – share investments
Platina holds 139 million shares in Alien Metals Ltd (AIM: UFO). Alien Metals has exploration and mining projects in the Pilbara region of Western Australia (precious and base metal projects) and Mexico (silver projects)
Blue Moon Zinc Corporation – share investments
Platina holds 6 million shares in Canadian-listed Blue Moon Metals (TSXV: MOON). Blue Moon’s flagship zinc project is drill-ready for high-grade zinc, copper, and gold deposits.
Platina Resources’ Managing Director Corey Nolan
Managing Director Corey Nolan, the Managing Director at Platina Resources, is an accomplished director with a 30-year career in the resources industry.
Corey Nolan has a strong educational background to support his standing. In addition to a bachelor’s degree in Commerce, Finance, and Management from Bond University, he has also completed a master’s degree in Mineral and Energy Economics and a Diploma from the Australian Institute of Company Directors.
Before being the Managing Director at Platina Resources, he was an Executive Director at Elementos Limited, a Non-Executive Director and Managing Director at Leyshone Resources Limited, and the CEO at Sayona Mining Limited. Today, in addition to being the Managing Director at Platina Resources, he is also a Non-Executive Director of Elementos Limited.
A multifaceted leader, Mr. Nolan has played a significant role in the acquisition, funding, and development of resource projects. He has overseen a major expansion of Authier lithium resource, several metallurgical testing programs, and pre-feasibility studies. In Sayona Mining, he attributed to giant market capitalization and raised a good amount of equity capital.
Latest News from Platina Resources
Platina Resources commence an air core drilling program at the Challa Gold Project, Western Australia in early July 2022. The program is aimed at determining bedrock targets for future drilling. Under the program, Platina Resources is targeting 60 holes. The drilling target anomalies were identified using the recent mapping and sampling program which consisted of 3,500 soil samples across the tenement.
Speaking on the progress, Managing Director Corey Nolan said, “Challa is situated in a gold-producing region but has never been drilled. Our exploration strategy focuses on identifying targets below ubiquitous transported sheet wash soils.”
In addition, Managing Director Corey Nolan also said that Platina Resources will be working closely with traditional landowners to secure all required clearances and provide employment opportunities to local workers during the exploration.
Platina Resources’ share price has shown a 52-week range of AUD 0.025-0.093. The Company has a market capitalization of AUD 13.9 million. Additionally, since its listing in May 2006, the Company has issued 434,382,342 shares and has a sector rank of 608 out of 907 on the Australian Stock Exchange.
Platina Resources has an extensive portfolio spanning share investments in four major mining and exploration companies and three projects underway in Western Australia and one project pending application in Western Australia. If you wish to learn more about Platina Resources and get the latest news, visit the official website.
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