Platina Resources Limited : - Aircore drilling planned at Challa following encouraging soil sampling program

Published: 2021-10-07 07:46:06 ET PGM.AX

Platina Resources Limited (ASX: PGM) is planning an air core drilling program at the Challa Gold Project in Western Australia after receiving encouraging gold assay results from a comprehensive five phase soil geochemical survey.

The program consisted of 3,525 soil samples and used an innovative sampling method developed by the Australian research organisation, CSIRO. A number of drilling targets have been identified and will now be tested by aircore drilling once a Land Use Agreement has been signed with the traditional landowners, and an archaeological site clearance completed. Platina Managing Director Corey Nolan said significant geochemical drill targets were found below the ubiquitous transported sheet wash soils that cover most of the tenements.

'Platina's proposed aircore drilling program will test these targets while also considering the interpreted structures developed from the regional aeromagnetic data,' Mr Nolan said. 'The technique has been successfully applied to other under cover gold discoveries in the Yilgarn like Bronzewing and Jundee. 'The aim of the aircore program is to define primary targets for future reverse circulation drilling and we're looking forward to getting started ahead of summer and the cyclone season,' he said. The Challa tenements, E58/552 and E58/553, cover 293km2 and are located in-between the prolific Mt Magnet and Sandstone gold districts in Western Australia, 500km north-east of Perth.

The Sandstone province has produced over 1.3 million ounces of gold from numerous underground and open pit mining operations, while Mt Magnet produced over 6 million ounces since discovery in 1891. Nearby, the Youanmi Gold Mine produced 670,000 ounces of gold throughout its lifetime, and is currently the focus of new resource drilling of high-grade gold lodes.

This announcement was authorised by Mr Corey Nolan, Managing Director of Platina Resources Limited.

Contact:

Gareth Quinn

Tel: 0417 711 108

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