OXIDE GOLD EXPANSION AT XANADU PROJECT

Phase Two Drilling Reveals Significant Oxide Gold Continuity

Platina Resources Limited (ASX:PGM) has reported significant findings from its phase two reverse circulation (RC) drilling campaign at the Xanadu Project, underscoring an extensive stretch of oxide gold mineralization.

Drilling Campaign Results:

  • The drilling encompassed 15 RC holes across 2,186 meters in the project’s western tenements, revealing substantial gold intercepts, particularly in three out of five holes at the Amphitheatre West prospect, including:
    • 48m at 0.53g/t Au from 76m in XARC016
    • 11m at 1.04g/t Au from 144m in XARC018
    • 15m at 0.69g/t Au from 150m in XARC019
  • These results, spaced at 200m intervals, follow on the heels of positive outcomes from the 2022 drilling at the same prospect.

Continued Exploration Momentum:

  • The new intercepts confirm the extension of the oxide mineralization 500m westward from the historical Amphitheatre pit, with the prospect still open along strike to the west and at depth.

Commenting on the results, Platina’s Managing Director Corey Nolan said:

“These ‘extremely encouraging’ intercepts confirmed oxide mineralisation extended a further 500m west of the historical Amphitheatre pit and was still open down dip and along strike to the west. Drilling has confirmed Xanadu West’s potential to host a large zone of oxide mineralisation,” Mr. Nolan noted.

He also detailed the next steps: “Our priority now is to test deeper airborne electromagnetic (AEM) and induced polarisation (IP) targets with up to four holes as soon as a diamond rig becomes available to try and unlock the deeper sulphide potential of the system.”

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