Platina Resources (ASX:PGM) is gearing up for diamond drilling at its Xanadu Project in the Ashburton Basin of Western Australia.
Platina, which has a $12.46 million market capitalisation, says diamond drilling will drill abandoned reverse circulation (RC) holes for airborne electromagnetic (AEM) and induced polarisation (IP) targets, and will also complete a further 2 holes at the Cleopatra and Big Bend prospects.
Heritage clearances and a program of works are already in place for the program.
Further geological mapping and rock chip sampling will be carried out in conjunction with the drilling program at the Hermes South zone and eastern tenements of the Xanadu project in Q3 and Q4 2024, respectively.
Drilling follows the discovery of an extension of oxide gold mineralisation through a 15 RC drilling program along Xanadu’s western tenements.
RC drilling was designed to test a defined 8km-long gold mineralised corridor within a regional scale structural setting which hosts the Mt Olympus gold deposit.
Oxide gold mineralisation was intersected in 3 of the 5 holes drilling at the Ampitheatre West prospect, which confirms mineralisation a further 500m west, with mineralisation still open down dip and along strike to the west.
Managing Director Corey Nolan says the results confirm Xanadu West’s potential to host a large zone of oxide mineralisation.
Platina Resources is focused on advancing early stage metals projects through exploration, feasibility, and permitting towards development. It controls a 100% interest in a portfolio of gold projects in the Yilgarn Craton and Ashburton Basin in Western Australia.
Write to Adam Drought at Mining.com.au
Images: Platina Resources
