Many deem the prolific Abitibi Greenstone Belt to be one of the world's most valuable gold mining districts. Since the 1990s, the geological marvel has yielded over 180 million ounces of gold and millions more in specialty and industrial metals.
In recent years, the southwestern portion of the Greenstone belt has been a prime hotspot for international investor attention and gold discoveries. Several multi-million-ounce gold deposits, mainly along the Ridout-Tyrrell deformation zone, present prospective mining companies with unparalleled exploration potential in the Abitibi.
Platinex Inc. (CSE:PTX) is focused on its 100 percent owned Shining Tree gold project near the prolific Abitibi Greenstone Belt in Ontario, Canada. The Shining Tree gold project is a consolidation of 21,720 hectares adjacent to the Côté Gold-Gosselin development project owned by IAMGOLD and 2.3-million-ounce Juby gold deposit hosted by Aris Gold Corp. (TSX:ARIS).
Additionally, the Shining Tree property intersects the same north-south fault with the West Timmins mine and the Ridout-Tyrrell deformation zone. The property itself hosts some 20 historic gold prospects with several underexplored areas across the prominent land package.
The next steps for the company include line cutting and IP surveying to prepare for an extensive drill program in 2021. The two-phase program will involve drilling 2,500 meters to test IP anomalies and drilling of an additional 5,000 meters for deeper definition exploration on the Herrick, Churchill and Ronda mines.
Platinex also operates a robust royalty portfolio, which provides gold, PGE, nickel, copper and chromium exposure. Key royalties include a 2.5 percent NSR royalty on production from the former Big Trout Lake property in northwestern Ontario. This asset is one of the largest known PGE and chromium deposits in Canada.
The company has a solid capital structure with an attractive CAD$10 million market cap and a CAD$1 million cash position with no debt. Its tight shareholder portfolio consists largely of board members & family, HNW/institutions and strategic partnerships with companies such as Treasury Metals Inc. (TSX:TML).
World-class management and a top-tier technical team lead Platinex. Their track record of success and extensive experience in mining, capital markets and finance sectors primes the company for tremendous economic growth and high-grade discovery potential.
Platinex's Company Highlights
- Platinex Inc. is a mineral exploration company focused on acquiring, exploring and developing highly prospective mineral projects across mining-friendly jurisdictions.
- The company has created the largest combined gold-focused property package in the Shining Tree District with its 100 percent owned Shining Tree gold project. The property spans 21,720 hectares southwest of the prolific Abitibi Greenstone Belt in Ontario, Canada.
- The Shining Tree gold project sits strategically between the Côté Gold-Gosselin development project owned by IAMGOLD and 2.3-million-ounce Juby gold deposit hosted by Aris Gold Corp. The project boasts district-scale potential.
- The company plans to conduct extensive diamond drilling and prospecting campaigns in 2021. Priority targets include the Caswell, Ronda, Herrick and Churchill mines.
- Platinex also has an impressive royalty portfolio on gold, PGE and base metal properties in Canada Chile. This collection includes a 2.5 percent NSR royalty on production from the former Big Trout Lake property, one of Canada's largest known PGE and chromium deposits.
- Platinex boasts an impressive capital structure and tight shareholder portfolio. An advantageous CAD$10 million market cap and strategic shareholder ownership pose significant growth for the company.
Platinex's Key Projects
Shining Tree Gold Project
The Shining Tree gold property spans 21,720 hectares in the southwest portion of the Abitibi Greenstone Belt in northern Ontario, Canada's largest gold-producing region. The asset hosts excellent infrastructure, strategic positioning amongst some of the world's most successful gold mines and initial discoveries of high-grade gold showings.
Shining Tree has seen limited modern exploration compared to other gold camps in the Abitibi Greenstone Belt but poses exceptional exploration potential. Its unique local intrusion structures have demonstrated the proliferation of known gold occurrences.
A 2020 channel sampling program revealed a collection of 21 grab samples of quartz vein material, which were assayed for gold. Sample highlights include returned gold grades between 0.1g/t and 5.43g/t gold.
Since 2018, the company has completed a NI 43-101 report, permit acquisition, test pitting program and exploration agreements with local indigenous communities. Platinex intends on conducting recommended gradient magnetics, LIDAR and 3,500-meter diamond drilling on the property in 2021. Recent discoveries of significant gold in till anomalies warrants very exciting advanced exploration of Shining Tree.
Platinex's Management Team
Greg Ferron — Interim CEO
Mr. Ferron has 20 years of mining industry and capital markets experience. He has held various senior level roles in mining, corporate finance, corporate development including Laramide Resources Ltd., Treasury Metals Inc., TMX Group and Scotiabank. He currently serves on the board of directors at Fancamp Exploration Inc. and Platinex Inc.
Graham C. Warren, CPA, CMA — Director, CFO & Corporate Secretary
Graham C. Warren is a senior financial executive with over 30 years of experience in the resource sector both domestically and internationally. Warren has served as CFO and director of numerous public and private companies. He has had extensive involvement in all facets of organizations, including finance, human resources, sales, marketing and operations and has guided boards in their corporate governance obligations.
Felix Lee, P.Geo — Director
Felix Lee is an economic geologist and senior executive with over 30 years of experience both in Canada and internationally. Lee was the former president of the Prospectors and Developers Association of Canada.
Christophe Vereecke, MBA — Director
Christophe Vereecke is a businessman and entrepreneur based in Paris. He has a background in finance, oil and gas, mine royalties and renewable energy. Vereecke is currently a director of Treasury Metals Inc.
James R. Trusler, P. Eng. — Non Executive Chairman
James R. Trusler is a Chair Exploration Committee geological engineer with over 45 years of exploration experience and a history of discovery and strategic acquisitions of world-class gold, uranium and nickel-copper-platinum deposits. He has been involved in the discovery and drill definition of five nickel-copper-platinum deposits on the Raglan Nickel mine site hosted by the Glencore Group. Trusler has also supervised over ten field parties searching for uranium in the Athabasca Basin and led the exploration across 43 large properties throughout North America.
*Disclaimer: This profile is sponsored by Platinex (CSE:PTX). This profile provides information which was sourced by the Investing News Network (INN) and approved by Platinex in order to help investors learn more about the company. Platinex is a client of INN. The company's campaign fees pay for INN to create and update this profile.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Platinex and seek advice from a qualified investment advisor.
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