{kanada_flagge}Platinex (CSE PTX / WKN A0MVNG) originally acquired the W2 project near the so-called Ring of Fire in Ontario, Canada, primarily for the potential for copper, nickel, as well as platinum and palladium (PGE) mineralization. However, historical sampling also indicates the potential for significant gold mineralization, according to the company. Interestingly, one of the world’s largest gold companies now seems to think along similar lines!
{kanada_flagge}Platinex (CSE PTX / WKN A0MVNG) originally acquired the W2 project near the so-called Ring of Fire in Ontario, Canada, primarily for the potential for copper, nickel, as well as platinum and palladium (PGE) mineralization. However, historical sampling also indicates the potential for significant gold mineralization, according to the company. Interestingly, one of the world’s largest gold companies now seems to think along similar lines!
In any case, given the potential seen for W2 as a whole, Platinex has once again significantly expanded the project area by acquiring 225 additional claims through its subsidiary Endurance Elements, so that W2 now consists of 1,122 individual units covering an area of 22,094 ha or 220 square kilometers! And with that, the W2 project is now directly adjacent to land recently secured by the world’s second largest gold producer Barrick Gold (WKN 870450) … Barrick, in fact, has secured by staking 1,198 claims covering 235.65 square kilometers in the region.
Source: Platinex Inc.
For its part, since acquiring the W2 project in January 2022 – primarily for historical, drill-tested copper, nickel, platinum and palladium mineralization – Platinex has continued to push the western boundary of the property within the Lavoie Lake shear zone system toward Northern Superior Resources’ gold-focused TPK project. With the numerous acquisitions, as well as the staking of additional claims, this has more than doubled the original land area!
The Lavoie Lake shear zone system, which extends over a strike length of 35 kilometers through W2, is interpreted as a series of splay shears/faults originating from the Stull-Wunnummin Fault Zone (SWFZ), an important transcrustal regional structure. And this extends from Gods Lake in the province of Manitoba over 600 kilometers eastward through Big Trout Lake and W2 to the area of the so-called Ring of Fire in Ontario. According to Platinex, high-grade gold values of 9.3 and 23.8 g/t gold from the Sandvik and Goose outcrops, respectively, have been detected on the W2 project in the past.
Conclusion: For now, Platinex wants to focus its exploration plans for W2 on extending the historic nickel, copper and PGE mineralization in the center of the property, as well as exploring the VTEM targets in the eastern part of the project, where they already see great potential. Nevertheless, in our view, extending the property to the west represents a strategic land grab that among other things opens up the option for gold mineralization. And having a neighbor of Barrick Gold’s caliber shouldn’t hurt either, especially for a small company like Platinex, which remains a risky speculation for all its opportunities. We’ll stay on the ball!
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