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Market: ASX
Sector: General Mining
Epic: PGM
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Web Site: PLATINA RESOURCES LIMITED
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PLATINA RESOURCES LIMITED

Platina Resources Limited is engaged in acquisition of mining tenements for mineral exploration with focus on platinum group metals. The Company’s projects include Skaergaard, Polar Bear, Munni Munni, Fifield and Mt Venn.
Monday, November 02, 2009

Platina Resources strong polymetallic assays confirm potential of key regional Greenland project

International precious metals explorer Platina Resources (ASX: PGM) has opened up a second exploration front in Greenland alongside its wholly-owned Skaergaard Gold and Platinum Group Metals Project after reporting highly encouraging results from the nearby Kangerlussuaq Project.

Platina has received all assays from its 2009 East Greenland regional exploration programme, with the results confirming Kangerlussuaq as a priority exploration opportunity for the company in 2010 alongside the Skaergaard Project, which is currently subject to a Pre-Feasibility Study.

The Kangerlussuaq Alkaline Complex, which is located within the newly acquired Exploration Licence 2009/09, approximately 20km west of the Skaergaard Project is roughly circular in shape and dominated by the Kangerlussuaq Syenite Intrusion and at least 13 satellite intrusions.

This wholly-owned licence also contains the Miki Fjord Dyke, which is prospective for precious and base metals.

Anomalous results were returned from the south-eastern portion of the complex from a programme of ground-based sampling conducted by two teams of helicopter-supported geologists and mountaineers, based out of Platina’s Sødalen field camp which services the Skaergaard Project.

A total of 340 samples were collected with a preference for in situ material, although float was also sampled due to the rugged nature of some locations.

Highly encouraging assay results have been received from this sampling programme. The ore-bearing veins were predominantly galena, pyrite and sphalerite with minor chalcopyrite, arsenopyrite and molybdenite.

Platina’s managing director Rob Mosig, said: “These are very encouraging results from a first-pass reconnaissance exploration program which highlight the enormous untapped exploration potential in Greenland.

“This newly acquired exploration licence is located just 35km from our existing exploration camp and infrastructure at Skaergaard, and has received virtually no modern exploration coverage. We intend to review and collate all of this data towards the end of the year with a view to planning our forward exploration programs at Kangerlussuaq in parallel with ongoing feasibility and drilling activities at Skaergaard.”

In addition, a second mineralised location has been identified at ‘Sortekap’ which also lies within Exploration Licence 2009/09 and is approximately 35km north east of Skaergaard.Gold grades of 2.7g/t, 1.9g/t and 1.0g/t were obtained from quartz veins hosted in sediments.

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