Published On: January 22nd, 2024
Crucial minerals such as copper (Cu), nickel (Ni), cobalt (Co), and lithium (Li), among others, form the bedrock of the digital age. Platinex Inc. (CSE: PTX) (OTCQB: PANXF, Frankfurt: 9PX), a Toronto-based exploration and development entity, is a significant player. The Company specializes in base and precious metals, including gold and PGE, aligning seamlessly with the prevailing global trends. The Company holds a diversified project portfolio of various high-potential exploration projects, such as the W2 Copper-Nickel-PGE Project and the South Timmins Gold Project.
Company Projects:
W2 Cu-Ni-PGE Project
Critical minerals will play a crucial role in the future of low and zero-emission electrical vehicles (EVs) and transportation. Ontario’s Ring of Fire region is one of the most promising regions for the critical minerals exploration and development point of view. The Company’s W2 Copper-Nickel-PGE Project is located in the same vicinity, approximately 50 km southwest of the Ring of Fire in North-western Ontario.
Figure 1: W2 Cu-Ni-PGE Project Location Map
The W2 Cu-Ni-PGE is 100% owned by Platinex and fully permitted for the Phase 1 exploration program. It covers the layered mafic-ultramafic Lansdowne House Igneous Complex (“LHIC”), which is highly prospective for copper-nickel (Cu-Ni) and reef-type platinum group element (PGE) deposits.
Approximately CAD 5 million in existing investments in exploration activities on 12,265 metres of drilling and VTEM/AeroTEM II airborne geophysical surveys make W2 an attractive and advanced-stage project. Also, previous operators invested CAD 10 million in exploration expenditures. W2 will benefit from the infrastructure investments in the Ring of Fire region.
Figure 2: Key Locations of W2 Project with Drilling Results
Project Highlights:
- Exploration permits issued for up to 31 drill pads
- Around $10 million in exploration costs have been incurred by prior operators, including Inco and Aurora Platinum
- A strong project team including Shuda Zhou and advisors Osmani (drilled project for Aurora Platinum in the 2000s), Blaine Webster (worked on the project for Inco in 1970s), Jim Trusler (significant PGE and regional experience), and Mac Potter (Indigenous engagement expert)
South Timmins Gold Projects
South Timmins Mining JV is a joint-venture company where Platinex owns 75% and Fancamp Exploration 25%. Venture holds two gold projects: the Shining Tree Gold Project and the Heenan Mallard Gold Project.
Figure 3: South Timmins Gold Project Location Map
Gold is a valuable asset, sought after for its economic and cultural significance. Investors often turn to gold as a safe haven during economic uncertainty. With industrial applications in electronics and jewelry, gold maintains a robust market demand.
The Shining Tree Project is a district-scale gold property located near Shining Tree, 100 km southeast of Timmins and 125 km north of Sudbury. The Project location is in the prolific Abitibi greenstone belt, known for its concentration of world-class gold and Cu-Zn-Ag-Au deposits. The property exhibits substantial potential to accommodate one or more Tier 1 gold deposits, mainly linked to the RTDZ (Ridout-Tyrrell Deformation Zone).
The ongoing efforts are concentrated on exploring targets near historical deposits such as Herrick, Churchill/Corona, and Ronda. Simultaneously, new exploration targets are generated in the up-and-coming and underexplored regions within the extensive land package, including the RTDZ (Ridout-Tyrrell Deformation Zone).
Drill results at Shining Tree include:
- 35.4m @1.1g/t Au in HU89-08 drilled by Unocal, which coincides with a geophysical anomaly and appears to be part of RTDZ
Platinex drilled several significant intersections, including:
Figure 4: Shining Tree Gold Project Location Map
Project Highlights
- Shining Tree is the exploration and drilling priority for 2023. Funded for years 2023 and 2024
- Drill hole HU89-08 intersected 35.4m grading 1.1g/t Au
- The property includes one historical gold producer and over 30 underground developments and prospects
- Platinex has also carried out LIDAR, IP, mag, multi-element geochemistry, and geological mapping surveys throughout the project area
Heenan Mallard Gold Project
Figure 5: Heenan Mallard Gold Project Location Map
The Heenan Mallard Gold Project is situated in the Swayze area of the Abitibi Greenstone belt, next to Northern Superior-Evolution Mining’s “October Gold” and on the northwest border of IAMGOLD’s Côté Gold Project. It Comprises 270 unpatented mining claim cells totalling approximately 5,104 ha.
Historical drilling completed by Noranda on Mallard’s River and Camp zones returned several high-grade near-surface intercepts, including:
- 5.04 g/t Au over 3.69 m core length (BE-85-1),
- 5.31 g/t Au over 3.82 m core length (BE-85-6),
- 3.50 g/t Au over 2.80 m core length (BE-85-5) and
- 6.62 g/t Au over 1.82 m core length (BE-85-3).
Project Highlights
- Platinex has conducted soil geochemical surveys, prospecting, and channel sampling in different selected channels with a return over 0.5 g/t Au, 4.05 g/t Au/2 m and 2.39 g/t Au/8m
Platinex’s Uranium Portfolio
Uranium is crucial for global energy demand and sees a current price surge due to factors like the Ukraine war disrupting the Russian uranium supply. Russia dominates the international uranium enrichment services market, accounting for 14% of uranium concentrates, 27% of conversion and 39% of enrichment worldwide. Civil unrest in Kazakhstan also risked one of the significant global uranium supplies.
Platinex Inc. is a cornerstone shareholder of Green Canada Co. with a 60% stake. The Company is creating wealth for its shareholders in the current scenario of uranium scarcity. Green Canada Co owns various uranium properties in Canada.
Figure 6: Green Canada Uranium Project Location Map
Muskrat Dam Lithium, Copper-Nickel, Gold Project
Muskrat Dam Lithium Project is a flagship asset of the Green Canada Co. It is located approximately 125 km northeast of Frontier Lithium’s PAK lithium project and 125 km northwest of Newmont’s Musselwhite gold mine. Current access to the project is by winter road.
Figure 7: Muskrat Dam: Prospective for Critical Metals
Project Highlight
- Program completed by ALS and led by Dr. Breaks
- 66 samples identified rare metals and lithium in white pegmatite
Investing in lithium projects is promising due to its pivotal role in the rapidly growing EV market and rising demand for lithium-ion batteries in EVs and renewable energy storage. This positions lithium projects as strategic investments for investors seeking long-term sustainability.
Platinex Inc. provides multi-dimensional exposure to investors in a single basket. The Company provides an overview of the coming years on its projects:
Figure 8: Platinex’s Development Plan
About MD & CEO of Platinex Inc., Mr Greg Ferron
Figure 9: Mr Greg Ferron, Managing Director & CEO
Mr Greg Ferron, Platinex Inc.’s Managing Director and CEO, brings 20+ years of leadership in mining, strategic management, and capital raising. With roles at Laramide Resources, Treasury Metals, TMX Corporate Finance Group, and Scotiabank, he led significant acquisitions and transformed Treasury Metals into a leading Canadian gold developer. Mr. Ferron leads Platinex’s finance committee and is a Director at Fancamp Exploration.
Recent Achievement of Platinex Inc.
- On January 17th, 2024, Platinex successfully acquired a major claim package which contains a historical resource within the existing Central Area boundary of Platinex’s 100% owned W2 Copper-Nickel-PGE Project (“W2”) located in the “Ring of Fire” region of Northern Ontario. This claim package includes 19 single-cell mining claims from Gungnir Resources Inc. (“Gungnir”), and Platinex acquired 13 adjacent claims to complete the consolidation of the W2 project area
- On December 21, 2023, The Company secured the final tranche of flow-through financing with an additional CAD 452,000 to achieve a total funding of CAD1,972,000. Platinex has attracted new investors who recognized the opportunity to invest based on the Company’s diversified portfolio. The final tranche financing consists of the issuance of 11,300,000 flow-through common shares for CAD 0.04 per share
What Makes Platinex Inc. Appealing to Investors?
The global surge in electronic devices and energy amplifies the demand for essential metals Cu, Ni, Au and U in advanced telecommunications and electronics. Platinex Inc., strategically focusing on these metals, seeks lucrative opportunities in the industry.
Furthermore, the energy sector’s shift to renewable sources, especially green technology and solar power, boost demand for metals with efficient conductive properties like Cu, Ni, and U. Beyond industrial use, these metals also serve as valuable investment assets.
Trading Economics forecasts a uranium supply setback amid rising demand, predicting. A surge to USD 93.16/LBS by the end of this quarter from USD 15/LBS since the beginning of 2024. Platinex’s dedication to sustainable practices, community engagement, and technological advancements positions the Company at a great place in the market. Key points to note about the Company are:
- Platinex Inc. and Mr. Greg Ferron, MD & CEO’s commitment to uncovering valuable base and precious metals sets the stage for exciting opportunities. The Company’s dedication to responsible exploration and development aligns with the growing demand for these essential resources
- South Timmins Gold Project, the key driver of Platinex’s growth strategy, benefits from successful drilling, offering a pathway to streamlined production
- Platinex Inc. stock was trading at CAD 0.04 per share as of January 20th, 2024, with a 52-week range of CAD 0.020 to CAD 0.055
- The Company has a market capitalization of CAD 13.286 million as of January 20th, 2024, with 332.163 million shares on issue
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