{kanada_flagge}Platinex Inc. (CSE: PTX; FRA: 9PX) has again increased its strategic land package at its W2 copper-nickel-PGE project in Ontario’s Ring of Fire. W2 is located about 60 km southwest of Noront/Wyloo’s Eagle’s Nest project, which Australian billionaire Andrew Forrest acquired late last year for about CAD620 million in a package with Noront through his private company Wyloo. W2 is located just 50 km from the planned Webequie Supply Road, which will connect the Ring of Fire to the provincial road network over the next 5 years. The Australian Wyloo and Canadian levels of government are committed to developing the infrastructure.
Figure 1: W2 is located not far from the Ring of Fire in Ontario and is expected to benefit from the planned infrastructure to develop the Eagle’s Nest major project.
Through its wholly owned subsidiary, Endurance Elements Inc. Platinex has now acquired an additional 149 mining claims. (see press releases dated January 17, 2022 and January 27, 2022). The additional 2,932 hectares (29.3 km2) brings the W2 land package to 15,973 hectares (159.7 km2). The new claims add a strike length of 10 km to the project, with W2 extending 35 km along the Lavoie Lake Shear Zone system and adjoining to the west the TPK project of Northern Superior Resources Inc. (25.87 g/t Au over 13.5 m). In addition, new claims in the northern section of W2 cover the strike extension of a known Fe-Ti-V oxide horizon.
The W2 Project now covers approximately 80% of the stratified mafic-ultramafic Lansdowne House Igneous Complex (“LHIC”), which is considered highly prospective for copper-nickel (Cu-Ni) and reef-type platinum group element (PGE) deposits. Widespread Cu-Ni-PGE mineralization is delineated in at least seven significant mineralized zones within a 7.5 km folded corridor. The strong Cu-Ni-PGE, Cr and Ti-V mineralization in the mafic ultramafic intrusions surrounding the Oxford Stull Dome suggests a common source, a very large magmatic system and thus a potentially significant abundance of the metals in each intrusion.
Platinex is currently evaluating historical data on the W2 Project and developing exploration plans for the upcoming season.
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