Platina Resources

Platina Starts Maiden Drilling Program At Xanadu Gold Project, Western Australia

Platina Resources Limited (ASX: PGM) has commenced a planned 3,000m reverse circulation (RC) drilling program over 11 holes at its Xanadu Gold Project in Western Australia.

The first phase of the program at Xanadu will target the core 4km of the 10km section of the Xanadu gold trend distinguished by historic gold occurrences drilled within the Duck Creek Dolomite, where it is affected by the Nanjilgardy fault zone and its splays.

Along this target area, the company will test several induced polarisation (IP) chargeable

anomalies, potentially representing sulphides with associated gold mineralisation, as well as shallower oxide mineralised zones – see Figure 1.

Platina Managing Director, Mr Corey Nolan, said the program was an exciting opportunity given the number and width of high-grade gold historical drill intercepts which have never been followed up with a systematic exploration campaign.

“Xanadu is located in a favourable regional scale structural setting, with the multi-million-ounce Mt Olympus gold deposit situated 7km to the east. Widespread gold mineralisation is identified within a large and intense hydrothermal alteration system which extends for over 10km in strike extent,” Mr Nolan said.

“The drilling program is expected to take 15 days to complete. The company has worked closely with the traditional landowners to secure the required site clearances.”

Platina controls a ground position of 562km2 with contiguous coverage along a 60km strike length of the Nanjilgardy fault and its splays and the Duck Creek Dolomite stratigraphy which is host to gold mineralisation within the project area.

Click here for the full ASX Release

This article includes content from Platina Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

The Conversation (0)

B2Gold Announces Initial Inferred Mineral Resource Estimate for the Springbok Zone of the Antelope Deposit at the Otjikoto Mine in Namibia

B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) ("B2Gold" or the "Company") is pleased to announce an initial Inferred Mineral Resource Estimate for the Springbok Zone, the southernmost shoot of the recently discovered Antelope deposit, located approximately three kilometers ("km") south of the Otjikoto Phase 5 open pit at the Otjikoto Mine in Namibia. All dollar figures are in United States dollars unless otherwise indicated.


News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Three gold bullion bars on top of USA flag.

Trump vs. Biden: How Could the US Election Affect the Gold Price?

The US election is quickly approaching, and the second face off between current president Joe Biden and former president Donald Trump promises to be a much-discussed race to the finish line on November 5.

In 2020, Biden presented himself as a candidate who would bring Republicans and Democrats together, challenging Trump’s divisive and populist rhetoric of making America great again. Trump ultimately lost that election, but recent polling shows that either candidate could still pull ahead in the months leading up to the vote.

In the resource sector, market participants are starting to wonder how the presidential race may affect the gold price. While the yellow metal is driven by diverse factors, the US — and by extension its leader — impacts many of them, including the global geopolitical environment, interest rates and the performance of the US dollar.

Keep reading...Show less


Keep reading...Show less
Steve Robertson, president of Prismo Metals.

Prismo Metals Poised to Benefit from Looming Copper Crunch, Exec Says

The copper market's current state presents both a challenge and an opportunity for explorers like Prismo Metals (CSE:PRIZ,OTCQB:PMOMF,FWB:7KU), Steve Robertson, the company’s new president, told the Investing News Network.

A forecast supply deficit looms on the horizon and is expected to take full effect by 2025, prompting a sense of urgency among copper producers and explorers alike.

"For quite some time now ... there's been a deficit, this forecast for 2025," Robertson said, pointing to a critical market juncture.

Keep reading...Show less


Stock Symbol: AEM (NYSE and TSX)

(All amounts expressed in U.S. dollars unless otherwise noted)

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News