Platinex Inc. (CSE:PTX) has announced promising findings from its recent exploration activities at the Ronda claims, situated within the expansive Shining Tree Gold Property in Ontario.
The venture is part of the South Timmins Mining joint venture with Fancamp Exploration Limited.
The program, a notable undertaking since Platinex acquired the Ronda surface claims from Alamos Gold in 2022, has validated the high-grade potential of the Ribble structure at the surface, Platinex said in a statement.
Historical data from the Ronda mine, a former producer, underscores the richness of the mineralization in this area.
Key findings from the program include gold grades over substantial widths, with channel samples such as 9.04 grams per ton (g/t) gold (Au) over 16.15 metres (m).
The results signal the presence of significant gold and silver mineralization, strengthening Platinex's confidence in the project's prospects.
"Exploration at Shining Tree/Ronda was previously constrained by not having the surface rights,” Greg Ferron, CEO of Platinex, commented on the significance of the findings.
“The mineralization appears to be continuous across much of the exposed face of the vein and immediate wall rock, and the returned gold and silver grades are consistent with historical grades reported from the Ronda Mine, thereby strengthening confidence that significant additional gold and silver mineralization exists on the Ronda claims."
Looking ahead, Platinex intends to further explore the potential across strike, investigating additional mineralized structures.