Platinex Launches New Exploration Program
On the South Timmins Mining Joint Venture, Platinex Inc. (CSE: PTX, FSE: 9PX, WKN: A0MVNG) has launched a new exploration program. It serves to confirm the results obtained so far and to prepare for initial drilling on the project site.
Platinex’s South Timmins Mining properties include the Shining Tree, Heenan, and Mallard gold projects. They are all located along the Ridout-Tyrrell Deformation Zone in the Abitibi Subprovince, which is itself one of the world’s richest gold regions. For example, IAMGOLD/Sumitomo’s Côté Gold Project and Aris Mining’s Juby deposit are located here, within or near the Ridout-Tyrrell Deformation Zone.
The new exploration program was preceded by a comprehensive technical review of South Timmins Mining’s assets. Subsequently, the joint venture partners developed their plans for an initial exploration program and are now proceeding to implement them. Initial drilling will begin in the second half of the year, with a scope of approximately 2,000 meters.
Work on the Mallard Gold Project is scheduled to begin in August. It is located northwest of Côté Gold in the Swayze Greenstone Belt and hosts a package of sheared and altered mafic to felsic rocks. These are currently interpreted as extensions of the Ridout Deformation Zone located immediately to the south.
Platinex Aims to Identify Connections and Extensions of Historical Deposits
Historical drilling conducted here yielded very promising results with 5.04 g/t gold over a length of 3.69 meters or 6.62 g/t gold over 1.83 meters. The main objective of the work now beginning is to identify potential extensions of the Camp and River zones. In the medium term, a diamond drilling program is planned for this part of the project area.
On the Shining Tree Gold Project, exploration teams have already started work on July 24. Here, the geologists’ central task is to verify whether the historical gold occurrences encountered are related to each other. This question is to be clarified with the help of trenching, geochemical surveys, and geological mapping. In addition, stripping and trenching are also planned in the Ronda area to better understand the mineralization at the surface.
The Heenan Gold Project, also located in the Swayze Greenstone Belt, is situated within the Woman River Anticline and is centered on the Woman River Iron Formation. Previous work here yielded consistent geochemical and trench sample values ranging from less than 5 ppb to 1,000 ppb gold. It is encouraging that the samples coincide with multi-line Spectral IP anomalies and magnetic data. Trenching is planned to start in September and, if successful, will be followed by a drilling program in a second phase.
Conclusion: Within the joint venture with Fancamp, in which Platinex holds a 75 percent stake, important preparations have been successfully completed in recent weeks. Now the focus will be on evaluating the individual deposits and selecting the deposits designated for subsequent drilling. To this end, the joint venture partners have established a technical committee consisting of three members: Felix Lee, Charles Tarnocai, and Blaine Webster. They will be supported by Platinex’s Exploration Manager, Joerg Kleinboeck, Chairman Jim Trusler, and Ike Osmani as an external consultant. Fancamp has brought in its lead geologist Christopher Grondin to the support team.
