Platina Resources Limited (ASX: PGM) (“Platina” or “the Company”) has received cultural heritage clearance to commence exploration at its recently acquired Mt McKenna Gold Project in Western Australia’s Eastern Goldfields. Located just 13 kilometres east of Laverton and neighbouring Genesis Minerals’ 3.9Moz Laverton Project and Gold Fields’ 3.9Moz Granny Smith Gold Mine, Mt McKenna positions the Company within one of the country’s most prolific gold-producing regions.
The Project covers over 20 kilometres of highly prospective greenstones, structures and intrusives, and is set to become Platina’s flagship growth platform following the recent divestment of its Xanadu Project.
Rapid Mobilisation to Exploration
Platina confirmed that a 12-month low-impact exploration program has been approved by traditional owners, enabling the Company to advance quickly towards drilling. Preparatory work is already underway, with a cultural heritage clearance survey for the maiden aircore drilling campaign scheduled in October.
Initial activities will concentrate on Target 2 at the northern end of the tenement and include:
- Gravity survey: A high-resolution survey has already commenced to refine geological interpretation and assist drill targeting.
- Surface sampling: Mapping, rock chip collection, and broad-scale soil sampling will define gold and pathfinder anomalies.
- Drilling: A first-pass aircore program is planned for November to test targets generated from historical sampling and geophysics.
Managing Director Corey Nolan said the Company had wasted no time in setting the program in motion. He noted that the Company had been able to mobilise quickly and commence its planned exploration program, with the objective of starting drilling in November.
Figure 2: Mr Corey Nolan, Managing Director of Platina Resources
Systematic Approach to Discovery
Exploration will initially focus on the north-west of the tenement where historical work outlined promising structural and lithological zones. Over time, Platina plans to systematically test the broader land package, ensuring sustained exploration momentum.
Mr Nolan emphasised the scale of the opportunity: “With a prime position in one of Australia’s premier gold districts, our systematic program is designed to rapidly define and drill high-priority targets, while building a pipeline of longer-term opportunities across the 20km strike.”
Strategic Positioning
Platina’s acquisition of Mt McKenna was a deliberate move to concentrate shareholder capital on projects with the strongest potential to deliver returns. The Project’s location, adjacent to multiple major operations, enhances its potential to attract development partnerships or corporate interest once discoveries are advanced.
The Eastern Goldfields continues to attract investment due to its proven geology and established infrastructure. Operations such as Granny Smith, Laverton, and Sunrise Dam collectively host multi-million-ounce resources, underlining the region’s capacity to deliver scale.
Broader Industry Context
The timing of Platina’s commencement aligns with record-high gold prices. On 25 September 2025, gold traded at USD 3,736.72/oz (AUD 5,671.15/oz), near all-time highs. Over the past year, gold has gained 39.82%, with year-to-date gains of 42.38%.
This robust price environment provides strong support for junior explorers. Every ounce of potential resource definition at Mt McKenna carries enhanced value in today’s market.
Figure 3: The upward trend in the price of gold over the past year [Goldprice]
Market Performance of Platina
Platina’s strategic repositioning has already been reflected in its ASX market performance. As of 25 September 2025:
- Last price: $0.026 (+4.00% on the day)
- 2025 YTD performance: +52.94%
- 1-year performance: +23.81%
- Versus sector (1yr): +16.73%
- Versus ASX 200 (1yr): +15.84%
- Market capitalisation: $16.8 million
This steady performance underscores investor confidence in the Company’s disciplined approach to capital allocation and exploration strategy.
Leadership Confidence
Mr Nolan reiterated that Mt McKenna represents the Company’s most compelling exploration opportunity. Following several years of rationalising the portfolio and redirecting capital from projects such as Xanadu, Platina is now positioned to drive focused exploration in a premier gold jurisdiction.
The Company believes the combination of scale, prospectivity, and proximity to existing infrastructure and operations gives Mt McKenna the potential to deliver transformational value.
Investors Outlook
Platina Resources enters this new phase of exploration with strong momentum. The commencement of systematic work at Mt McKenna, backed by cultural heritage clearance and rapid mobilisation, demonstrates the Company’s ability to execute efficiently.
Key elements of the outlook include:
- Exploration readiness: Gravity survey underway, surface sampling in progress, and maiden drilling set for November.
- Strategic landholding: Over 20km of prospective strike in one of Australia’s richest gold belts.
- Gold market strength: With gold up 42% YTD in USD terms, Platina is well positioned to benefit from supportive pricing.
- Market confidence: A 52.94% YTD share price increase signals growing recognition of Platina’s strategy and prospects.
With disciplined capital allocation and a clear focus on Mt McKenna, Platina Resources is building a platform for sustainable growth. Shareholders stand to benefit both from near-term exploration catalysts and longer-term potential as the Company advances what could become a significant gold asset in the Eastern Goldfields.
