Platinex Reports Positive Geochemical Sampling Results and Commences Exploration Program at Shining Tree Gold Property

Platinex Reports Positive Geochemical Sampling Results and Commences Exploration Program at Shining Tree Gold Property

Platinex Inc. (CSE:PTX) (OTC: PANXF, Frankfurt: 9PX) (" Platinex " or the " Company ") is pleased to provide an update on its Shining Tree Gold Property in which the Company holds a 75% interest through the South Timmins Mining joint venture ("South Timmins") with Fancamp Exploration Ltd. (see news release dated March 15, 2023). South Timmins holds a 100% interest in the Shining Tree Gold Property which borders Aris Gold's Juby Property as well as a 100% interest in the Heenan Mallard Gold Project which borders IAMGOLD's Côté Gold Project.

At Shining Tree, the joint venture is working to identify new gold targets in several highly prospective and underexplored areas of the 225 km 2 land package including along the Ridout-Tyrrell Deformation Zone (RTDZ) while continuing more focused exploration efforts in the central area of the project to support additional drilling at the Herrick deposit, Caswell prospect, and historic Ronda Mine (see attached map).

Field crews have mobilized to begin follow-up work on new gold targets which have been identified through generative work during 2022; work is commencing in Area 3.

Concurrently, ALS Goldspot Discoveries, a geoscience AI and data laboratory, has concluded their property-wide data compilation. The results are being used by the Company to finalize exploration and drilling programs for 2023.

Further information regarding the exploration activities and drill programs for Shining Tree and Heenan Mallard will be provided in a separate press release once the plans are finalized.

The 2023 exploration programs at Shining Tree and Heenan Mallard are being led by Joerg Kleinboeck, P.Geo., a professional geoscientist with 24 years of experience in mineral exploration. Notably, he brings extensive years of experience working in the Shining Tree area, and he previously held a role managing exploration programs at Heenan Mallard.

Geochemical Results

During the fall of 2022, Platinex completed reconnaissance geochemical and prospecting programs over three areas (2, 3 and 5, see map) that were identified as being highly prospective and underexplored for gold mineralization (see news release dated December 7, 2022). Results for 1,905 B-horizon soil samples from areas 2, 3 and 5 submitted to Activation Laboratories Ltd. ("Actlabs") have identified several areas that warrant further prospecting, infill geochemical sampling, and geophysical surveys to define potential drill targets. The most notable targets are located in Area 2 and Area 3.

In Area 3, several anomalous B-horizon soil samples were returned that coincide with the previously announced high-priority SGH (Soil Gas Hydrocarbon) anomaly, referred to as the Bob Lake Anomaly, which was described by Actlabs as having a ‘high probability that gold mineralization may be present'. The most significant soil sample was 269913 which returned 683 ppb Au and is located at the centre of the Bob Lake Anomaly. Additional infill soil sampling has been proposed over this target, followed by line cutting and geophysics (induced polarization and magnetometer surveys) to advance the target toward drilling.

Area 2 targets a projected 6 km strike length of the RTDZ ("Ridout-Tyrrell Deformation Zone") that has seen very little historical exploration. Reconnaissance work by Platinex in 2021 and 2022 has led to several highly anomalous B-horizon soil samples and till samples "down-ice" of the interpreted structure where soil samples returned gold values up to 380 ppb, and till samples returned up to 43 pristine gold grains, indicating a possible nearby bedrock source for the gold. Detailed infill soil sampling and prospecting "up ice" of the anomalous geochemical and till samples are planned, as well as line cutting and geophysics (induced polarization and magnetometer surveys) to advance the target towards potential inclusion in the upcoming drill program.

The technical information presented in this news release has been reviewed and approved by Joerg Kleinboeck, P. Geo, a qualified person for exploration at the Shining Tree Project, as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.

About Platinex Inc.

Platinex Inc. creates shareholder value through the opportunistic acquisition and advancement of high-quality projects in prolific Ontario mining camps. Current assets include a 100% ownership interest in the W2 Copper-Nickel-PGE and Gold Project near the Ring of Fire, a 75% interest in the South Timmins Mining JV with Fancamp Exploration, which includes the 225 sq. km Shining Tree Gold Project, and the highly prospective Heenan Mallard Gold Project, both of which lie along the Ridout-Tyrell Deformation Zone on strike with IAMGOLD's Côté Gold deposits;  and, an option to earn a 100% ownership interest in the Muskrat Dam Critical Minerals Project with a primary focus on Lithium. Platinex also holds a basket of net smelter return (NSR) royalties on gold, PGE, and base metal properties in Ontario. Having put together a strong and diversified project portfolio and leading a technical team, the Company is focused on comprehensively exploring and evaluating each project to maximize shareholder value. Platinex is based in Toronto, Canada, with a primary listing on the Canadian Securities Exchange under the symbol PTX.

For additional information on Platinex and other corporate information, please visit the Company's website at https://platinex.com/ .

For further information, please contact:

Greg Ferron, President, and Chief Executive Officer
Phone: 416-270-5042
Email: gferron@platinex.com

Forward-Looking Information

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and includes those risks set out in the Company's management's discussion and analysis as filed under the Company's profile at www.sedar.com. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/71f94efc-4be0-4949-a6e1-7714aa228263


Primary Logo

News Provided by GlobeNewswire via QuoteMedia

PTX:CNX
The Conversation (0)
Platinex Launches Exploration Programs for the South Timmins Mining Joint Venture

Platinex Launches Exploration Programs for the South Timmins Mining Joint Venture

Platinex Inc. (CSE: PTX) (OTCQB: PANXF, Frankfurt: 9PX) (" Platinex " or the " Company ") is pleased to announce exploration progress and plans for its South Timmins Mining Joint Venture ("South Timmins Mining" or "Joint Venture") properties. The South Timmins Mining properties include the Shining Tree, Heenan, and Mallard gold projects, all of which lie along the Ridout-Tyrrell Deformation Zone ("RTDZ") in the Abitibi Subprovince, one of the most gold enriched geologic regions in the world. IAMGOLDSumitomo's Côté Gold project, Aris Mining's Juby deposit, and numerous other small-scale historic gold producers fall within or are proximal to the RTDZ (see project location map, Figure 1).

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Platinex Common Shares Commenced Trading on the OTCQB Venture Market in the United States Under the Symbol "PANXF"

Platinex Common Shares Commenced Trading on the OTCQB Venture Market in the United States Under the Symbol "PANXF"

Platinex Inc. (CSE: PTX) (OTCQB: PANXF, Frankfurt: 9PX) (" Platinex " or the " Company ") is pleased to announce that the Company's common shares have begun trading on the OTCQB Venture Market (" OTCQB ") in the United States under the symbol " PANXF ". The Company's common shares will continue to trade on the Canadian Securities Exchange under the symbol PTX and on the Frankfurt Stock Exchange under the symbol 9PX.

The OTCQB listing offers convenience and accessibility for investors based in the United States and internationally while providing increased visibility and exposure to the Company. The OTCQB is operated by the OTC Markets Group, an American financial market, headquartered in New York City provides price and liquidity information for almost 10,000 over-the-counter securities. OTCQB listed companies reporting requirements undergo an annual verification and management certification process.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Platinex Receives Exploration Permits for W2 Copper-Nickel-PGE Project and Provides Update on Shining Tree and Heenan Mallard Gold Projects

Platinex Receives Exploration Permits for W2 Copper-Nickel-PGE Project and Provides Update on Shining Tree and Heenan Mallard Gold Projects

Platinex Inc. (CSE: PTX) (OTCQB: PANXF, Frankfurt: 9PX) (" Platinex " or the " Company ") is pleased to provide an update on its exploration activities and corporate developments.

W2 Copper-Nickel PGE and Gold Project ("W2")

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Fancamp Reports on Shining Tree Gold Property Exploration Program Joint Venture with Platinex

Fancamp Reports on Shining Tree Gold Property Exploration Program Joint Venture with Platinex

Fancamp Exploration Ltd. (" Fancamp " or the " Corporation ") (TSX Venture Exchange: FNC ) is pleased to share the recent program updates and announcement made by Platinex Inc. (CSE:PTX) ("Platinex") with regards to the Shining Tree Gold Property, in which the Corporation holds a 25% interest through South Timmins Mining Inc. ("Goldco"), a joint venture with Platinex Inc. ( refer to news release dated March 14, 2023 ). GoldCo's Shining Tree Gold Property is strategically located in the South-West region of the Abitibi Greenstone Belt, the world's largest 2.7-billion-year-old mineral-rich greenstone geological belt, which hosts numerous major gold and base metal deposits, and predominant gold producers ( refer to Figure 1 ).

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Platinex Secures Dominant Land Position at W2 with Claim Acquisitions

Platinex Secures Dominant Land Position at W2 with Claim Acquisitions

Platinex Inc. (CSE:PTX) (Frankfurt: 9PX) (" Platinex " or the " Company ") is pleased to announce that its wholly owned subsidiary, Endurance Elements Inc. ("Endurance Elements") has expanded its W2 Copper-Nickel-PGE and Gold Project (the "W2 Project" or "W2") near Ontario's Ring of Fire by acquiring 225 additional single-cell mining claims. The total land package at W2 now comprises 1,122 cell units covering 22,094 ha (220 km 2 ). Notably, Barrick Gold has recently taken on a large land position in the immediate W2 area, staking 1,198 single-cell mining claims covering 23,565 hectares (235.65 square km 2 ) of ground adjacent to blocks held by Endurance Elements (see claim map in Figure 1).

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
World Copper Identifies New Opportunity at Zonia Copper Project in Arizona

World Copper Identifies New Opportunity at Zonia Copper Project in Arizona

World Copper Ltd. (TSXV: WCU) (OTCQB: WCUFF) (FSE: 7LY0)  ("World Copper" or the "Company") provides an update on its Zonia copper-oxide project in Arizona, USA ("Zonia" or the Zonia Project").

A review of historical data by World Copper's newly formed Technical Advisory Committee has revealed the potential for re-processing mineralized material that was included in the historical mine plan at the Zonia Project. This material, located on heap leach pads from historical production on private patented land, and last processed in the mid-1970s, was treated with acid to recover soluble copper. Two historical reports, a 1979 mine production summary report by McAlester Fuel Company ("McAlester") and a 1982 resource evaluation report by Mountain States Research & Development ("MSRD"), indicate that the site hosts over 14 million tons of historically mined material available for re-processing:

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Noble Minerals Initiates Temporarily Delayed Drill Program in proximity to the Location of a 140 kg, Mineralized Boulder Found near Hearst, Ontario

Noble Minerals Initiates Temporarily Delayed Drill Program in proximity to the Location of a 140 kg, Mineralized Boulder Found near Hearst, Ontario

(TheNewswire)

Noble Mineral Exploration Inc.

Toronto, Ontario TheNewswire - July 2, 2024 Noble Mineral Exploration Inc. ( "Noble" or the "Company" ) (TSX-V:NOB, FRANKFURT: NB7, OTCQB:NLPXF) is pleased to announce that after a delay due to inclement weather, Noble is now ready to initiate their drill program.  Extreme hot, dry weather in mid June gave way to thunderstorms and in some cases tornadoes.  Noble was concerned with potential forest fire risk and the health and welfare of their workers.  With the coming of more stable weather in July, the company is now ready to start the drill program.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Noble Minerals Initiates Temporarily Delayed Drill Program in proximity to the Location of a 140 kg, Mineralized Boulder Found near Hearst, Ontario.

Noble Minerals Initiates Temporarily Delayed Drill Program in proximity to the Location of a 140 kg, Mineralized Boulder Found near Hearst, Ontario.

(TheNewswire)

Noble Mineral Exploration Inc.

Toronto, Ontario TheNewswire - July 2, 2024 Noble Mineral Exploration Inc. ( "Noble" or the "Company" ) (TSX-V:NOB, FRANKFURT: NB7, OTCQB:NLPXF) is pleased to announce that after a delay due to inclement weather, Noble is now ready to initiate their drill program.  Extreme hot, dry weather in mid June gave way to thunderstorms and in some cases tornadoes.  Noble was concerned with potential forest fire risk and the health and welfare of their workers.  With the coming of more stable weather in July, the company is now ready to start the drill program.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Aston Bay and American West Metals Confirm New Zone of Thick, Near-Surface, High-Grade Copper at Storm Copper Project, Canada

Aston Bay and American West Metals Confirm New Zone of Thick, Near-Surface, High-Grade Copper at Storm Copper Project, Canada

Grades of more than 7% copper in recent drilling of The Gap; planned 20,000m summer drilling program underway

  • Drill hole SR24-03 at the underexplored Gap prospect has intersected:

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Falco Announces Resignation of Board Member

Falco Announces Resignation of Board Member

Falco Resources Ltd. (TSX-V: FPC) ( "Falco" or the " Corporation" ) announced today that Mr. Claude Dufresne has resigned as a member of the Board of Directors so that he may focus his efforts on other professional duties.

The Board of Directors would like to thank Mr. Dufresne for his contribution over the past few years and wish him well in his future endeavors.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Bold Options Claims in Ring of Fire Region

Bold Options Claims in Ring of Fire Region

Bold Ventures Inc. (TSXV:BOL) (the "Company" or "Bold") is pleased to announce that it has signed an option agreement (the "Agreement") to option a 100% interest in two claim groups (the "Optioned Claims") to an arms-length party (the "Optionee"). The claims are located in the Ring of Fire Region. The Optioned Claims were staked during a regional airborne Electromagnetic and Magnetic survey flown in 2013 for Bold Ventures and its co-Venturer, a subsidiary of Dundee Resources. The survey resulted in over 14 claim groups being staked at various times over two campaigns. The Optioned Claims have a combined area of approximately 2,595 acres (1,050 hectares) and comprise approximately 90 claim units. The Optioned Claims have seen very little exploration work in the past

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×