Platina Resources (ASX: PGM) identifies new mineralisation structures at Brimstone Gold Project

Highlights

• Drilling at the Brimstone Gold Project has defined mineralisation at the Brandy Prospect and the Billabong North Prospect
• Platina Resources states that the mineralised structures found at the Project are open along strike and down dip
• Company's Managing Director has confirmed the next step is RC drilling shallow aircore anomalies to identify broader and higher-grade intersections

Australia-based explorer Platina Resources (ASX: PGM) -- concentrated on advancing early-stage metals projects -- has informed about new multiple mineralised structures identified at the company's WA-located Brimstone Gold Project. PGM has completed the maiden 4,381m aircore drilling program at the site and the presence of new mineralised gold structures has been confirmed.

Notably, Platina Resources stated that the 85-hole drill program has identified a "strongly mineralised" 350m long structure at the Brandy Prospect. This structure could extend up to 800m in length. Besides, strong mineralisation is also identified at the Billabong North Prospect.

Source: Company update

Broad zones of gold mineralisation

Platina's 85-hole drilling has confirmed strong mineralisation at Brandy (potentially extending up to 800m length) and at Billabong North (over 120m). The mineralised structures identified in aircore drilling are open along strike and down dip.

Significant assay results from Platina's aircore drilling program are in the below picture. 

Source: Company update

Brimstone’s northern acreage showing drill holes and structures (Source: Company update)

RC drilling planned for June

Mr Corey Nolan, Managing Director of Platina Resources, has commented that the company is encouraged by the broad zones of mineralisation. He has confirmed that eight out of 14 aircore holes at the Brandy structure intersected mineralisation, while four out of nine holes at Billabong North intersected mineralisation. Besides, the recent drilling activity has still not closed off the mineralisation, Mr. Nolan added. The 350m shear can likely extend for up to 800m.

The company has stated that RC drilling is being planned for this month for testing the mineralisation at depth and along strike at Brandy, Garibaldi, Old Camp and Billabong North.

PGM shares traded at AU$0.024 (market cap over AU$18 million) on 1 June 2023.