Investing News NetworkAUSTRALIA

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.

Top News

Galan Lithium

Related News

Galan Lithium