Published On: August 5th, 2022
Platina Resources Limited (ASX: PGM) (Platina Resources or “Company”) recently announced that the Company is seeking to expand its gold exploration asset portfolio in Western Australia. Platina Resources will apply for an exploration license for the Jubilee Gold Project located in the Murchison Province.
About the Jubilee Gold Project – Platina Resources
Platina Resources’ Jubilee Gold Project is located 15 km east of Meekatharra in the Yilgarn Craton, which is well known for producing gold. The Jubilee Gold Project is located 150 km north of the Challa Gold Project where Platina Resources recently completed an air-core drill program.
The Jubilee Gold Project has seen historic exploration; however, very little modern exploration has been conducted. The Jubilee area has a widespread surficial cover of the bedrock by sediments, granitoid, and granites as a result of which exploration of the area has been largely limited.
The identified explorations include:
- Mineral Resources Australia tested 10 RAB holes in 1998.
- Helix Resources tested 4 RAB holes in 2003.
- Doray Minerals tested 3 air-core holes in 2010.
Platina Resources is currently conducting an in-depth review of the previous drilling sites. However, no digital samples were available in the GSWA database of these previous explorations. Since there has been so little exploration, Platina Resources plans to carry out ground gravity surveys and generate potential gold mineralization targets.
About the Exploration License – Platina Resources
The application for the exploration license (E51/2114) covers 156 km2 of land close to the Meekatharra gold operation of Westgold Resources (ASX: WGX) and the Side Well Project of Great Boulder Resources (ASX: GBR).
The exploration license area is situated between the Archaean Gnaweeda Greenstone Belt and the Meekatharra-Widgie Greenstone Belt. The two belts are separated by 15 km. Laterite or colluvium covers large portions of the tenement. Furthermore, a small gold working is also present 2 km southwest of the license area.
The exploration license also covers magnetic highs which indicate possible greenstone or strong sheet zone that could be prospects for gold mineralization.
Regarding the license’s prospect, Managing Director Corey Nolan said, “Great Boulder Resouces recently reported that their drilling intersected with very high grade and large widths of gold mineralization at the Mulga Bill prospect. Magnetic studies indicate a similar setting at Jubilee with several north-south and east-west structures.”
Exploration strategy for the Jubilee Gold Project – Platina Resources
Geological features of the project are:
- Favourable structural settings in tenement areas that could host gold mineralization
- Potential for reinterpretation for GSWA’s granitoid and granites post to be greenstones
- A portion of the tenement area is covered by alluvium, making conventional soil sampling techniques unreliable.
- Very little modern exploration (but historic exploration shows a high probability of mineralization).
Considering these features, Platina Resources will reprocess existing magnetic images and conduct on-ground surveys after the grant of the exploration license. Mulga Bill’s electromagnetic and induced polarization techniques will also be used.
Mr. Corey Nolan said that Platina Resources could quickly commence field activities once the tenement was granted. The field activities include a gravity survey as well as a low-cost reconnaissance geochemistry program, which will identify targets for drilling.
Investor Outlook – Platina Resources
Platina Resources is an Australian mining and exploration company. Platina Resources controls 100% interest in the Xanadu Gold Project, Challa Gold Project, Mt Narryer Gold Project, and Platina Scandium Project located in Australia. In addition, the company also has share investments in four companies—Major Precious Metals, Alien Metals, Blue Moon Zinc, and Nelson Resources.
Platina Resources recently commenced an air-core drilling program at the Challa Gold Project. Platina Resources has also applied for a new tenement covering the previous Mt Narryer Project. If you wish to learn more about Platina Resources, visit the official website for the latest news.
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