Join our daily newsletter At The Bell to receive exclusive market insights
- Platina Resources (PGM) is set to launch its maiden phase of exploration drilling at its recently-acquired Brimstone gold project in Western Australia
- The company has defined several “priority” drill targets at the project through a geophysics reinterpretation and a review of historical data
- The new drilling program will aim to test the depth and strike potential of the gold system in the area
- The phase one drill program is scheduled to begin once the cultural heritage and other statutory clearances have been obtained
- Platina Resources shares are up 5.56 per cent to 1.9 cents at 11:51 am AEDT
Platina Resources (PGM) is set to launch its maiden phase of exploration drilling at its new Brimstone gold project, 40 kilometres northeast of Kalgoorlie in Western Australia.
The company has begun a cultural heritage survey and defined several “priority” drill targets at the recently-acquired project.
The heritage clearance covers Brimstone’s northern licences, including five prospecting licences and the Garibaldi mining lease.
Platina Managing Director Corey Nolan said a geophysics reinterpretation and historical data review conducted since the project’s acquisition from Sangold Resources in November last year helped define the priority targets for drilling.
“A number of the new targets have been historically drilled to shallow levels including Old Camp and Garibaldi, which has a historical intersection of 55 metres at 2.07 grams per tonne (g/t) gold and 34 metres at 2.80 g/t gold,” he said.
Platina’s new drilling program will aim to test the depth and strike potential of the gold system in the area.
The new undrilled targets, including Brandy and Billabong North, which were identified through geological mapping and soil sampling programs, will also be tested, marking the first time these areas will be subject to a systematic exploration campaign.
The phase one drill program is scheduled to begin once the cultural heritage and other statutory clearances have been obtained.
An additional cultural heritage survey will also be required for the southern targets, including Jammie Dodger, following the phase one drilling.
Platina Resources shares were up 5.56 per cent to 1.9 cents at 11:51 am AEDT.
