Platina Resources Limited (ASX: PGM) (“Platina Resources” or “the Company”) has delivered a strong operational and financial update, completing its Phase 1 drilling program at the Mt McKenna Gold Project in Western Australia while also receiving an early US$1 million payment linked to the sale of its Scandium Project. The announcement highlights the Company’s disciplined approach to exploration, capital management, and portfolio optimisation as it positions for an active 2026.
Against a backdrop of rising investor interest in gold and its expanding role across modern industries, Platina’s progress at Mt McKenna reinforces its strategy of advancing high-quality gold assets in proven mining districts.
Figure 1: Regional location map of the Mt McKenna Gold Project within the Laverton gold district. [Platina Resources]
Mt McKenna Drilling Program Completed
Platina has successfully completed Phase 1 aircore drilling at the Mt McKenna Gold Project, located in the highly prospective Laverton gold district of Western Australia. The program comprised 6,056 metres across 126 aircore drill holes, completed by two rigs at the northern section of the Target 2 area.
The drilling tested four interpreted splays off the regional Granite Well Fault, a major structural feature known to control gold mineralisation across the region. Platina expects assay results in January 2026, which will play a key role in refining geological interpretations and prioritising future drill targets.
The Company designed the program to support litho-geochemical classification of the bedrock and improve its understanding of alteration halos associated with potential gold mineralisation. This information will help define higher-priority targets for follow-up drilling.
Integrated Exploration Strategy Across a 20km Gold Corridor
Beyond the completed drilling, Platina continues to advance a broader exploration strategy across the Mt McKenna tenement. The Company is collecting end-of-hole drill chips from historical drilling, which will be systematically mapped to identify favourable geological settings.
Platina plans to integrate multiple datasets, including new assay results, historical geochemical sampling, geological mapping, and a ground gravity survey, to guide target generation across the 20-kilometre anomalous gold corridor that extends across the project area.
The Company will continue mapping, sampling, and gravity surveys in early 2026, ensuring a steady pipeline of technically driven exploration activity.
Platina Managing Director Mr Corey Nolan said: “Platina has rapidly advanced a number of exploration programs at the Mt McKenna Project since its acquisition in September as the Company delivers on its immediate goal to identify drilling targets for the start of 2026. Mt McKenna is in a world-class gold producing region in close proximity to several significant mines including Genesis Minerals’ Laverton Project and Gold Fields’ Granny Smith Gold Mine.”
Gold’s Enduring Importance Across Industries
Gold remains one of the most sought-after metals on the planet, valued not only for its beauty and rarity but also for its versatility and unique physical properties. While jewellery continues to account for the majority of global gold demand, the metal plays an increasingly important role in finance, medicine, electronics, and aerospace.
Gold’s resistance to corrosion, excellent conductivity, and chemical stability make it indispensable in modern electronics, where even small quantities support reliable data transmission in smartphones, computers, and GPS devices. In medicine and dentistry, gold’s biocompatibility enables its use in crowns, implants, and specialised treatments, including cancer therapy using gold isotopes.
In aerospace, gold coatings protect spacecraft from extreme heat and radiation, underscoring the metal’s strategic importance beyond traditional investment and adornment. These diverse applications support long-term demand fundamentals for gold and reinforce its status as both a precious and industrial metal.
Figure 2: Infographic illustrating gold uses across jewellery, electronics, medicine, and aerospace.
US$1 Million Early Payment Strengthens Financial Position
In addition to exploration progress, Platina has received an early release of a US$1 million warranty retention bond linked to the sale of its Scandium Project in August 2023. The funds, equivalent to approximately A$1.5 million, were previously held in trust and released after no breaches of warranty conditions.
Platina may also receive a further US$2 million cash payment upon approval of the Burra (formerly Owendale) Mining Licence or by 31 August 2026, providing additional potential upside. This payment materially strengthens the Company’s balance sheet and enhances its capacity to fund ongoing exploration without excessive shareholder dilution.
Portfolio Optimisation Continues
As part of its disciplined asset management approach, Platina has surrendered the Mt Narryer Project following a comprehensive review of historical data. The Company has sold the exploration information to Western Mines Group Ltd for $10,000 in WMG shares, to be settled in early 2026.
Platina also expects to complete the sale of the Xanadu Project to Kalamazoo Resources in January 2026. The transaction includes equity consideration, a 1% Net Smelter Royalty, and a potential $500,000 milestone payment tied to future resource definition.
These actions reflect the Company’s strategy of recycling capital from non-core assets into higher-priority gold projects.
Investor Outlook
Platina Resources enters 2026 with completed drilling, pending assays, a strengthened cash position, and a streamlined project portfolio focused on gold in Tier-1 jurisdictions.
Share Price Activity (ASX):
- Last price: $0.039
- 1 week: +21.87%
- 1 month: +50.00%
- 2025 YTD: +129.41%
- 1 year: +105.26%
- Market capitalisation: $25.15 million
Figure 3: Share price performance of Platina Resources [ASX]
With assays due in January 2026, continued exploration momentum, and additional potential cash inflows, investors will closely watch how the Company converts technical progress into value creation. Platina’s disciplined execution and exposure to gold—an essential metal across both investment and industrial sectors position the Company well for the next phase of growth.
