Platina Resources Confirms Extension of Xanadu Oxide Gold Mineralisation

THE DRILL SERGEANT: Platina Resources (ASX: PGM) has confirmed a large extension of oxide gold mineralisation at the company’s Xanadu project in Western Australia.

Platina Resources extended the mineralisation via a 15 hole reverse circulation (RC) drilling campaign drilled in Xanadu’s western tenements to test a previously-defined 8km-long gold mineralised corridor.

The company reported oxide gold mineralisation intersected in three out of five holes drilled at the Amphitheatre West prospect, that returned results including:

XARC016
48 metres at 0.53 grams per tonne gold from 76m, including 2m at 1.93g/t gold from 76m and 1m at1.01g/t gold from 83m and 12m at 1.35g/t gold from 89m;

XARC018
11m at 1.04g/t gold from 144m, including 2m at 3.92g/t gold from 144m; and

XARC019
15m at 0.69g/t gold from 150m, including 5m at 1.64g/t gold from 156m.

Platina explained the Amphitheatre West holes were drilled on a 200m spacing, following up on earlier encouraging results achieved from its 2022 RC drilling at the prospect.

“The ‘extremely encouraging’ intercepts confirmed oxide mineralisation extended a further 500 metres west of the historical Amphitheatre pit and was still open down dip and along strike to the west,” Platina Resources managing director Corey Nolan said in the company’s ASX announcement.

“Drilling has confirmed Xanadu West’s potential to host a large zone of oxide mineralisation.

“Our priority now is to test deeper airborne electromagnetic (AEM) and induced polarisation (IP) targets with up to four holes as soon as a diamond rig becomes available to try and unlock the deeper sulphide potential of the system.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE