Platina Resources Limited (ASX:PGM) (OTCMKTS:PTNUF) (FRA:P4R) is a step closer to its first drilling program at the wholly-owned Challa Gold Project in Western Australia with the final soil sampling program underway.
Since starting exploration activities in November 2020, more than 1,880 soil samples have been completed and the final soil program is expected to take one week to complete.
The comprehensive soils program follows assays received from the selective sampling of outcropping veins, which previously returned grades of 1.62 g/t gold and 5.89 g/t gold in rock chip samples.
Once the assay results are received a maiden rotary air blast (RAB) drilling program will be implemented to target a number of prospects generated by the soil sampling.
“Sampling identified prospective targets”
Platina managing director Corey Nolan said the company’s innovative soil sampling program had successfully discriminated anomalous bedrock through the transported cover.
He said: “Historically, Challa has not been systematically explored due to the transported sands and silts which cover a large part of the project area.
“The soil sampling has identified a number of prospective targets which we’re looking forward to drilling.”
Strategic location
Acquired by the company last June as part of Platina’s strategy to refocus on Australia, the Challa tenements, E58/552 and E58/553, cover 293 square kilometres and are between the prolific Mt Magnet and Sandstone gold districts in Western Australia, 500 kilometres northeast of Perth.
The Sandstone province has produced over 1.3 million ounces of gold from numerous underground and open pit mining operations, while Mt Magnet produced over six million ounces since discovery in 1891.
Nearby, the Youanmi Gold Mine produced 670,000 ounces of gold throughout its lifetime and is currently the focus of new resource drilling of high-grade gold lodes.
New gold opportunities
Nolan also confirmed that Platina is continuing to examine a number of new gold project opportunities.
He said: “The company is committed to expanding its gold presence in Western Australia.
“We have identified several assets that would be great additions to our portfolio and our negotiations with the relevant pares are progressing positively.”