Platina Resources (ASX: PGM) reports incremental progress across projects in April 2023 presentation

Highlights

• Platina is a diversified explorer, with interests in gold and scandium, besides investments in other mineral exploration entities
• At the WA based Brimstone project, where historical drilling suggests broad widths and high-grade Au mineralisation, PGM has begun drilling activity
• Through its NSW based scandium project, Platina is looking to seize opportunities in the emerging scandium market

Platina Resources (ASX: PGM) is a Western Australia (WA) focused explorer of gold, and the latest company presentation mentions that the portfolio consists of seven gold projects, spanning a total area of 1,469 sq. km. Separately, the company also owns a high grade scandium project in New South Wales (NSW). Besides, it has also invested in other Australian and overseas based mineral exploration companies. In its presentation released this month, PGM highlighted major aspects of its projects.

These aspects included exploration and drilling at some of Platina’s gold projects, and the opportunities provided by the scandium project, where Definitive Feasibility Study is already complete. Let us know more about Platina Resources.

Source: PGM ASX announcement dated 17 April 2023

Gold projects

The company is in various stages of exploration and drilling at its WA based gold projects. The presentation mentions that drilling activity (northern tenements) has begun at the Brimstone Project. Read more. Notably, historical drilling points toward large number of broad widths and high-grade Au mineralisation. At Xanadu Project, the company has identified Hermes, which is a new Au exploration target. Phase 2 drilling is scheduled at Xanadu in the middle of this year.

Source: PGM ASX announcement dated 17 April 2023

The Beete Project is another gold, lithium, and nickel target of Platina Resources. Here, recent activity by Aruma Resources and Meeka Metals has highlighted Au potential. PGM has completed the soil program and assays are pending. At the Mt Narryer Project (western Yilgarn Craton), where PGM has a partnership with ASX-listed Chalice Mining, there is prospective Craton edge margin.

Scandium Project

Here, Platina is looking to unlock the value of scandium resource by undertaking diversification of product mix and project marketability. Notably, Platina's presentation mentions the opportunities in the emerging scandium market, thanks to recent developments from aluminium heavyweights. The Definitive Feasibility Study has been completed at this NSW based project.

Source: PGM ASX announcement dated 17 April 2023

Lastly, the company presentation also includes PGM's investments, which include shareholding in Alien Metals (iron ore, silver, and platinum exploration), Nelson Resources (gold exploration), Blue Moon Metals (zinc), and Major Precious Metals (gold and platinum).

Platina Resources' ASX-listed shares traded at AU$0.026 on 27 April 2023, with market cap over AU$16 million.