Inside Platina Resources’ (ASX:PGM) exploration plans for Mt Narryer - Kalkine Media

Highlights:

• The Mt Narryer Project sits within the western Yilgarn Craton region, which hosts the Julimar nickel and PGM discovery.
• Platina Resources (ASX:PGM) intends to start exploring the project in early 2023 following the E 09/2704 granting.
• Reconnaissance geochemistry program is on the cards for Mt Narryer, aimed at identifying targets.  

Platina Resources’ (ASX:PGM) journey continues to be marked by progress across its multiple projects in the tier 1 mining jurisdictions of Western Australia and New South Wales. While its several projects were subject to significant undertakings in 2022, what remained in focus at the end of the year was the Mt Narryer Project in Western Australia.   

Overview of Mt Narryer Project

Platina plans to kick start exploration across the Mt Narryer Project early in 2023, subject to securing the Exploration Licence (E 09/2704). The exploration licence is spread over 211 square kilometres within Yilgarn Craton.

The company is highly confident about the project potential owing to its location in the world-class mining province of Yilgarn Craton, which holds high discovery potential with excellent infrastructure and sophisticated drilling capabilities.

It is to be noted that the region hosts the Julimar nickel and platinum group metals (PGM) discovery. 

Mt Narryer’s strong geological model    

Platina is highly convinced about the project’s geological model based on its structure which covers an aeromagnetic high splaying off a major fault. In addition, the project also holds a prospective craton edge margin located between sediments and Archean granites and gneisses.  

Platina believes that the geological setting of Mt Narryer is analogous with the Julimar discovery, as its project has the right combination of rocks and structure.

At its Julimar Ni-Cu-PGM project, Chalice Mining Limited (ASX:CHN) Chalice has identified deposits based on the re-interpretation of the regional geology and aeromagnetics in areas that historically were not considered mineralogically prospective, says Platina Managing Director Corey Nolan. 

(Image source: PGM update dated 20 December 2022)

The Mt Narryer project has not witnessed intense historical exploration program due to the absence of outcropping greenstones. These greenstones have hosted majority of deposits with gold and base metal potential in the region.  

However, the analogy to Chalice’s Julimar Ni-Cu-PGM project and the new nickel and platinum group metals (PGM) discoveries to the south along the Darling Fault zone have been attracting interest.

Moreover, 2010 geochemical sampling by Athena Resources at the project had delivered encouraging results indicating the project’s gold mineralisation.

Platina’s plans for Mt Narryer     

As per the company, the exploration program at Mt Narryer would cover a reconnaissance geochemistry campaign (low-cost) to identify targets. Platina intends to then follow up on these targets with geophysics and drilling.    

The company’s shares were trading at AU$0.019 in the early hours of 10 January 2023, up more than 5% from the last close. Its market capitalisation stood at AU$11.21 million.