- Drilling results indicate a new mineralised corridor
- Measures more than one km of strike
- New discovery identified at Granite Well East prospect
- Follow-up AC program planned at Granite Well East
Platina Resources (ASX:PGM) has discovered a new gold corridor with aircore drilling at the Mt McKenna project in Western Australia’s Laverton gold district.
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The new corridor of gold mineralisation was identified through 10,809m (220 holes) of drilling across two exploration phases at Mt McKenna.
Key drill results include 1.0m at 7.10 grams per tonne (g/t) 40m, ending 1.0m above the bottom of hole, 4.0m at 1.11 g/t Au from 12m, 7.0m at 0.61 g/t from 36m, including 2.0m at 1.41 g/t from 40m.
CEO, Corey Nolan, said the drilling results indicate that a new mineralised corridor of more than one km strike has been identified at the Granite Well East prospect.
It has also define a coherent north-northeast trending mineralised structure extending more than 800m at the Black Rock Prospect, characterised by elevated arsenic values and multiple anomalous gold intercepts.
“The multiple mineralised zones identified within the southern drilling area are highly encouraging and provide strong evidence for a potentially much larger gold system beneath the weathered profile,” Mr Nolan said.
“The presence of significant gold mineralisation at or near the bottom of several aircore holes highlights the opportunity for deeper discoveries and provides strong support for follow-up reverse circulation drilling.
“The association between gold mineralisation and strong arsenic anomalism in holes MMKAC0239 and MMKAC0240 is particularly exciting, as it opens up an entirely new exploration corridor at Mt McKenna. The favourable structural setting, intrusive geology and pathfinder geochemistry combine to create an excellent geological environment capable of hosting substantial gold mineralisation.”
Mr Nolan also welcomed the award of a $109,200 grant under the WA government’s co-funded exploration drilling program.
“The grant will support a 13-hole reverse circulation drilling program at Target 2, where we will test the deeper extensions of the mineralised structures identified through aircore drilling and gravity surveys. This program will form part of the follow up RC campaign planned for later this year.”
The Granite Well East Prospect is located at the intersection of two major geological domains: the north-northwest trending regional mafic-syenite sequence and the west-northwest trending Diorite Hill mafic-ultramafic intrusive complex. The convergence of these units is interpreted to define a structurally favourable setting, where two major structural corridors intersect.
Brightstar Resources’ Alpha Gold deposit is located approximately 20km southwest of the Granite Well East prospect along the same north-northwest trending structural corridor. This structure is interpreted to run broadly parallel to the Granite Well Fault, which is spatially associated with a regional syenite unit.
A follow-up aircore drilling program is planned at the Granite Well East prospect to infill and extend the recently identified gold mineralisation.
PGM is steady at 1.9c. Mkt cap $2.208M.
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