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Highlights
- Platina Resources has signed a conditional agreement to acquire the Sunrise Bore Gold Project in Western Australia.
- The project lies south of Platina’s Mt McKenna Project and near AngloGold Ashanti’s Sunrise Dam gold mine.
- Sunrise Bore features over 800m of mineralisation, defined by wide-space drill lines and high-grade gold intersections.
- The acquisition expands Platina’s Laverton landholding to include a 12km² exploration licence area.
Platina Resources Limited (ASX:PGM) has entered into a conditional acquisition agreement for the Sunrise Bore Gold Project, further expanding its landholding in the Laverton region of Western Australia. The project is located adjacent to the multi-million-ounce Sunrise Dam mine and near the company’s recently acquired Mt McKenna Project.
The Sunrise Bore mineralisation is strategically situated along a major north-south fault that also hosts the Keringal Mine (450koz Au) and is in close proximity to the Golden Delicious Mine (240koz Au) and Jubilee Mine (145koz Au).
The acquisition will complement Platina’s nearby Mt McKenna Project, with both projects planned to be synergistically explored in parallel once all approvals are secured.
High-Grade Drill Intersections
More than 800m of mineralisation has been defined through wide-space drilling, delivering significant gold intercepts. Key results include:
- 84m @ 3.13g/t Au from 16m (SBRC003), including incl. 1m @ 2.59g/t from 16m, 3m @19.15g/t from 27m, 1m @ 84.2g/t from 34m, 1m @ 19.3g/t from 36m, 1m @ 63g/t from 44m, 3m @ 2.71g/t from 52m & 1m @ 16.10g/t from 64m.
- 6m @ 4.97g/t Au from 57m (SBRC004), including 2m @ 13.61g/t Au from 57m.
- 64m @ 0.56g/t Au from 26m (SBRC012) including 2m @ 3.06g/t from 33m, 2m @ 2.72g/t from 37m, 1m @ 9.51g/t from 42m & 1m @ 1.08g/t from 72m.
- 22m @ 1.01g/t Au from 48m (SKRC017), including 6m @ 3.15g/t Au.
Exploration potential on the acquired project extends along a 3.6km along strike, includes a 0.8km-long high-grade zone that has remained unexplored for more than 28 years. Mineralisation remains open along strike, down dip, and plunge.
The company’s exploration strategy will include ground geophysics to identify key structures, followed by reverse circulation drilling. With excellent site access, the company expects exploration activities to commence quickly and cost-effectively following cultural heritage clearances.
Acquisition Terms
Under the conditional acquisition agreement, the company will acquire 100% of Bravo Minerals Pty Ltd, the owner of the Sunrise Bore tenement application (ELA 38/4038), covering approximately 12km².
The transaction terms include:
- AUD 25,000 non-refundable cash deposit within seven days of signing;
- AUD 375,000 cash payment upon completion;
- AUD 800,000 in Platina shares, based on a 15-day VWAP, subject to escrow; and
- A 1% Net Smelter Royalty (NSR) upon completion.
The completion of the acquisition remains subject to the granting of the Sunrise Bore tenement.
PGM shares were trading at AUD 0.028 per share at the time of writing on 20 October 2025.
