Platinex Exploration Programs Progressing Well
In August,
On the W2 Project, BAW Mining is finalizing data collection for a 3D geological model. A drilling program with 63 holes over a total length of 12,000 meters is planned here. Previous drilling in the central area had identified a 7.5-kilometer-long folded corridor with widespread mineralization that includes copper and nickel as well as platinum group elements.
On the Axe Lake property, which is part of the Muskrat Dam Critical Minerals Project, ALS Goldspot, under the guidance of Platinex’s technical advisors 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 examination of lithium and other rare metal mineralizations.
A total of 66 rock samples were taken. Several potassium-rich pegmatites with yellow muscovite, tourmaline, and garnet were identified and are currently being analyzed in the laboratory. Further work planned for the project includes an airborne geophysical VTEM survey. It is scheduled to begin in the winter season of 2023-2024 and will cover sections of the 12,934-hectare project where previous owners had drilled zones with attractive copper, nickel, and gold grades.
Ontario Mining Minister Grants Subsidy of up to CAD 200,000
For the Muskrat Dam Project, Platinex has received a grant from the Ontario Junior Exploration Program (OJEP) for further exploration activities. It will cover half of the qualified 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, the Minister of Mines. “It’s the intrepid junior exploration companies like Platinex that will find the mines of the future that will bring critical minerals to the world and prosperity to northern and Indigenous communities across Ontario.”
South Timmins Mining Joint Venture Shows Good Success
Since the completion of the South Timmins Mining Joint Venture and the start of exploration activities, Platinex has collected 2,233 B-horizon soil samples and 134 rock samples on the Shining Tree Gold Project. The program also includes the first proprietary exploration work in the Ronda Mine, located in the central area of the property. Work has been completed in Areas 2 and 3 and continues in the central area. Additionally, exploratory trenching was conducted in Area 1 along the Rideout Deformation Zone.
In August, field teams were engaged in trenching, geochemical surveys, and geological mapping in the Camp and River zones of the Mallard Gold Project. The main objective of this program was to identify potential extensions of zones previously explored by Noranda, which had revealed gold mineralization 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.
At the end of September, Platinex hopes to provide a detailed update on the work on the Shining Tree and Mallard Gold Projects with the final laboratory results. Currently, the company has begun stripping, channel sampling, and geological mapping work to prepare for drilling a high-priority geophysical and geochemical anomaly on the Heenan Gold Project. Following the completion of the stripping program, a similar stripping program will be conducted in September at the former producing Ronda Mine at Shining Tree.
