Published On: March 3rd, 2023
Platina Resources (ASX: PGM) is a gold-focused explorer with a keen interest in major precious metals in the world-class provinces of Western Australia. As per the recent announcement made on March 1 2023, Platina Resources is preparing for the first round of exploration at its Brimstone Project in Western Australia.
Managing Director Mr Corey Nolan authorised the announcement. He said, “A number of the new targets have been historically drilled to shallow levels, including Old Camp and Garibaldi, which has a historical intersection of 55m @ 2.07 g/t gold and 34m @ 2.80g/t gold. Drilling is planned to test the depth and strike potential of the system.” Managing Director Corey Nolan also added that a geophysics reinterpretation and review of historical data helped define priority drilling targets.
The Phase 1 gold drill program will commence once cultural heritage and other statutory clearances are obtained. Following Phase 1 drilling, the southern targets, including Jammie Dodger, would require an additional cultural heritage survey. In a recent interview, Managing Director Corey Nolan informed that AUD 5 million had been invested in the project.
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The Brimstone Project
Brimstone is an advanced-stage exploration project with immense appeal given the previously drilled broad widths and high-grade gold mineralisation. It’s located within a prolific gold-producing Kurnalpi terrane in Western Australia. It’s approximately 40km, 27km, and 2.5km from Kalgoorlie, Kanowna Belle, and Penny’s Find gold deposits, respectively, and can be accessed via quick-short tracks from sealed roads providing an opportunity for year-round exploration. Brimstone project is close to many large gold mills providing toll treatment options.
The entire Brimstone tenement package covers overlapping claims of the Maduwongga and Kakarra Native Title groups. A survey is being done across northern Prospecting Licences and Garibaldi Mining Licenses to cover both cultural heritage groups. It’s expected to take a week to complete. The preparation of a formal cultural heritage report will follow the survey.
The mineralisation at Garibaldi occurs on the project scale shear zone along the contact between the basalt and shale. This creates a favourable rheological contrast for the emplacement of gold.
The Brandy prospect is interpreted to be located on Penny’s Find shear zone. This zone has been well-defined by a strong gold in soil anomaly and favourable geology. Brimstone Resources Ltd completed the surface sampling in 2013, 2014, and 2020.
Old Camp is the westernmost prospect within the Brimstone tenure. Historically, nine reverse circulation drill holes on three fences were drilled at this prospect. All the drill holes intersected gold mineralisation, strongly indicating a plunge to the southeast at depth.
The surface sampling program carried out by Brimstone Resources Ltd highlighted a strong gold in soil anomaly and high-grade gold rock chip samples. Billabong North Target 1 and 2 on the P27/2251 tenement are defined by two shear zones trending in a northwest-southeast direction. Gold nuggets were also found nearby of these shear zones.
Managing Director Corey Nolan
Fig. 3 Corey Nolan, M.D.
Managing Director Corey Nolan is an accomplished mining executive with more than 25 years in the metals and mining industry. As an experienced public company director, his core focus has been acquiring, funding, exploring and developing resource projects. Over the years, he has taken on various leadership positions in Australian mining projects.
Platina Resources is an Australian-based company focused on advancing early-stage major precious metals projects through exploration, feasibility and permitting towards development. The company is leveraging its technical expertise and experience to target 1-million-ounce gold deposits at Xanadu in the Ashburton Basin and Challa in the Yilgarn Craton.
Platina Resources has acquired 100% of the advanced, high-grade, near-surface Brimstone Gold Project, 40 km northeast of Kalgoorlie. This includes full ownership of the nearby Beete and Binti Binti gold projects. Platina also holds a 100% interest in the Platina Scandium Project in New South Wales, one of the world’s largest and highest-grade scandium deposits. The Challa Project, Xanadu Project, Jubilee Project, Binti Binti Project and more are among its other notable projects.
Why should investors keep a close eye on Platina Resources?
- As per ASX announcements, Platina Resources’ share price stood at AUD 0.020
- Platina Resources ASX shares are up by 5.56% to 1.9 cents at 11:51 am AEDT
- The Project’s priority drill targets hold profitable potential.
- Platina Resources Limited ASX holds 6 million shares in Canadian-listed Blue Moon Metals, 49 million shares in Canadian junior mining and exploration company Major Precious Metals, and 5.7 million shares in Nelson Resources Ltd.