- Platina Resources (PGM) will review the platinum and copper potential at its namesake project following Clean TeQ’s (CLQ) platinum resource announcement
- Last week, Clean TeQ announced a significant platinum resource for its Sunrise Project which is located just five kilometres from Platina’s scandium project
- Platina’s project was discovered in the 1960s and explored for platinum until 2016 when its rich scandium potential was realised
- While it is now considered one of the largest and highest-grade scandium deposits in the world, Platina believes it holds major potential for platinum
- Platina will also follow up on copper intersections which have previously yielded 4.9 per cent copper
- Company shares are down 1.67 per cent and trading for 5.9 cents
Platina Resources (PGM) will review the platinum and copper potential at its namesake project following Clean TeQ’s (CLQ) platinum resource announcement.
Last week, fellow ASX-lister, Clean TeQ announced a substantial platinum resource at its Sunrise Project in New South Wales.
The Sunrise Project hosts a resource of 103.1 million tonnes at 0.33g/t platinum for 1,076,170 ounces of platinum, using a 0.15g/t platinum cut-off grade. This makes it one of the largest platinum resources in Australia.
Significantly, Platina’s Platina Scandium Project (PSP) is located just five kilometres away from the Sunrise Project. Both projects are situated within the Fifield district which gives Platina a sense of confidence that it may unlock similar platinum potential at its namesake project.
The PSP was discovered in the 1960s and was initially explored for platinum until explorers realised its rich scandium potential in 2016. The project is now considered one of the largest and highest-grade scandium deposits in the world.
“Whilst the shallower laterite system is the host of a platinum JORC Mineral Resource, there are a number of historical bedrock platinum intersections of economic grade including five intersections higher than 10 grams per tonne,” Platina Managing Director Corey Nolan said.
Previous significant intersections from PSP include four metres at 17g/t platinum, four metres at 7.1g/t platinum, three metres at 8.3g/t platinum and three metres at 4.1g/t platinum.
Platina will also follow up on copper intersections which have included three metres at 1.6 per cent copper from 77 metres and three metres at 4.9 per cent copper from 63 metres.
Company shares are down 1.67 per cent and trading for 5.9 cents at 3:45 pm AEST.