Initial Sampling Programme Identified Highly Prospective Targets
Platina Resources Limited (ASX: PGM) will move quickly to conduct a follow up soil sampling programme at the company’s wholly owned Challa Gold Project in Western Australia after initial soil sampling completed in November last year confirmed a number of highly prospective zones.
Assaying of 696 soil samples has identified a strong correlation to mineralised outcropping veins previously identified in our October reconnaissance program that returned grades of 1.62 grams/tonne (g/t) gold and 5.89 g/t gold in rock chip samples.
Platina Managing Director Corey Nolan said the company’s innovative soil sampling programme had successfully discriminated anomalous bedrock through the transported cover.
“Historically, Challa has not been systematically explored due to the transported sands and silts which cover a large part of the project area,” Mr Nolan said.
“Our new soil sampling has demonstrated soil sampling can be an effective and low-cost method for identifying gold anomalism.
“As a result, we have identified a number of target areas to be followed up with a more comprehensive gridded soil program to pinpoint targets for follow-up drilling,” he said.
Acquired by the company in June 2020 as part of Platina’s strategy to refocus on Australia, the Challa tenements, E58/552 and E58/553, cover 293km2 and are located in-between the prolific Mt Magnet and Sandstone gold districts in Western Australia, 500km north-east of Perth.
The Sandstone province has produced over 1.3 million ounces of gold from numerous underground and open pit mining operations, while Mt Magnet produced over six million ounces since discovery in 1891. Nearby, the Youanmi Gold Mine produced 670,000 ounces of gold throughout its lifetime, and is currently the focus of new resource drilling of high-grade gold lodes.