Platinex Inc. (CSE:PTX) announced that it has kicked off a five-hole, 950-metre diamond drill program on the Heenan property located within the Swayze area of the Abitibi Greenstone Belt in Northwestern Ontario.
The property is part of the Heenan Mallard gold project, held by the company through the South Timmins Mining Joint Venture (JV) with Fancamp Exploration Limited. Platinex holds a 75% interest in the JV, while Fancamp holds 25%.
The company said the drill program will follow up on its previously announced greenfield gold discovery that was generated through B-horizon soil geochemical surveys, prospecting, and a mechanized stripping/channel sampling program.
It will target mineralization identified in Trench 1 and Trench 2 as well as test several high-priority spectral induced polarization (IP) anomalies that coincide with a northwest-orientated structure called the Mallard Shear Zone.
Platinex also announced that it has completed mechanized stripping and channel sampling at the Ribble Vein on the past-producing Ronda Mine site at the Shining Tree gold project.
It said 265 samples were submitted for analysis, including 37 quality-control samples consisting of standards blanks and duplicates. Assay results are expected in January 2024.
Platinex creates shareholder value through the opportunistic acquisition and advancement of high-quality projects in prolific Ontario mining camps.
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