Platina Resources has secured a 100 per cent interest in the Mt McKenna gold project in Western Australia’s world-class Laverton district.
Located just 13km east of Laverton, Mt McKenna sits close to major operations including Genesis Minerals’ Laverton operation, which hosts 3.9 million ounces (Moz) of resources, and Gold Fields’ Granny Smith mine of similar scale.
Platina managing director Corey Nolan said the combination of prospective geology, early exploration results and limited historical drilling highlighted the project’s upside.
“Mt McKenna presents a near-drill-ready project opportunity with significant exploration upside, which aligns closely with our corporate objective of drilling to generate shareholder value,” Nolan said.
“Historical shallow RAB (rotary air blast) drilling intercepts include 16m at 1.05 grams per tonne (g/t) gold (including 4m at 3.41g/t from 32m) and 15m at 0.87g/t gold.
“More recent gold rock chip sampling of laterites and nearby gold nugget finds potentially indicate that the geology is more prospective to the east of the historical drilling along more than 20km of strike along the greenstone belt traversed by the Granite Well fault structure and intrusives.”
Recent sampling has returned standout gold rock chip samples including 248g/t, 21g/t and 5g/t gold.
“Recent regional success stories like Magnetic Resources with a gold resource of 2.3 million ounces located 27km west of Mt McKenna demonstrates that the district is still not fully matured and there is potential for further large discoveries,” Nolan said.
“This is further reinforced by Genesis Minerals’ recent $250 million acquisition of the Laverton project immediately west of Mt McKenna.”
Platina plans to launch a comprehensive exploration campaign following a cultural heritage survey. Activities will include soil and rock chip sampling, gravity surveys and drilling, with Laverton’s nearby infrastructure expected to streamline mobilisation.
The acquisition is structured through the purchase of Jasper Exploration for $320,000 in cash, 20 million Platina shares, and a 1.5 per cent net smelter royalty, with completion expected within the next five business days.
Want to connect with the mining industry? Register to attend AIMEX and WA Mining Conference.
Want to connect with the mining industry? Register to attend AIMEX and WA Mining Conference.
Want to connect with the mining industry? Register to attend AIMEX and WA Mining Conference.
Want to connect with the mining industry? Register to attend AIMEX and WA Mining Conference.
Want to connect with the mining industry? Register to attend AIMEX and WA Mining Conference.
Want to connect with the mining industry? Register to attend AIMEX and WA Mining Conference.
Want to connect with the mining industry? Register to attend AIMEX and WA Mining Conference.
