Platinex exploration programmes progressing well

At the South Timmins mining joint venture, Platinex Inc (CSE: PTX, FSE: 9PX, WKN: A0MVNG) launched a new exploration programme in August. This work is progressing well, while work on the Heenan gold project has only just begun. Exploration successes are also reported by partners ALS Goldspot at the Muskrat Dam Critical Minerals Project and BAW Mining at the Platinum Group Element Copper-Nickel W2 Project.

On the W2 project, BAW Mining is in the process of completing data acquisition for a 3D geological model. A drilling programme of 63 holes over a total length of 12,000 metres is planned here. Previous drilling in the central area had identified a 7.5-kilometre folded corridor of widespread mineralisation that includes platinum group elements as well as copper and nickel.

At the Axe Lake property, which is part of the Muskrat Dam Critical Minerals Project, ALS Goldspot, led by Platinex technical consultants Dr Fred Breaks and Ike Osmani, recently completed initial fieldwork. Their goal is to locate and sample white granitic pegmatites identified in historical mapping for assaying for lithium and other rare metals mineralisation.

A total of 66 rock samples were taken. Several potassium-bearing pegmatites with yellow muscovite, tourmaline and garnet were recognised and are currently being studied in more detail in the laboratory. Further work planned on the project includes an airborne VTEM geophysical survey. It is scheduled to begin in the 2023-2024 winter season and will cover sections of the 12,934-hectare project where previous owners had drilled zones with attractive copper, nickel and gold grades.

Ontario Minister of Mines awards grant of up to CAD 200,000

In addition, Platinex has been awarded an Ontario Junior Exploration Program (OJEP) grant for further exploration activities at the Muskrat Dam project. It will account for half of + qualifying exploration costs incurred on the project between April 1, 2023 and February 15, 2024, or a maximum of 200,000 Canadian dollars.

“Exploration is the first and most important part of the critical minerals supply chain we are building in Ontario,” said George Pirie, Minister of Mines. “It’s the intrepid junior exploration companies like Platinex that will find the mines of the future, bringing critical minerals to the world and prosperity to northern and Indigenous communities across Ontario.”

South Timmins mining joint venture shows good results

Since the completion of the South Timmins Mining Joint Venture and the commencement of exploration activities, preparation of drill planning at Mallard was completed and field work confirming the Noranda extension. Initial work at the Ronda mine at Shining Tree delivered high grade gold results at surface.

Platinex has collected 2,233 B-horizon soil samples and collected 134 rock samples at the Shining Tree Gold Project. The programme also includes the first in-house exploration work at the Ronda Mine, located in the central area of the property. Work has been completed in Areas 2 and 3 and is continuing in the central area. In addition, exploratory trenching was carried out in Area 1 along the Rideout Deformation Zone.

During August, field teams were engaged in prospecting, geochemical surveys and geological mapping in the Camp and River zones of the Mallard Gold Project. The main objective of this programme was to identify potential extensions to the zones previously explored by Noranda that had revealed gold mineralisation within two northwest-trending shear zones. In total, the team collected 32 rock samples and 446 B-horizon soil samples, all of which were subsequently submitted to Activation Laboratories for analysis.

Platinex hopes to provide a detailed update on work at the Shining Tree and Mallard gold projects with final laboratory results in late September. Currently, the company has commenced stripping, channel sampling and geological mapping work in preparation for drilling a high priority geophysical and geochemical anomaly at the Heenan Gold Project. Following the completion of the mining programme, a similar mining programme will be undertaken at the former producing Ronda Mine at Shining Tree in September.