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Highlights
- Platina Resources has completed the acquisition of the Sunrise Bore Project, securing a 100% interest in Exploration Licence E38/4038 in Western Australia's Mt Morgans gold district.
- A Phase 1 reverse circulation drilling program comprising 23 holes over approximately 2,775m has commenced to test historical gold mineralisation.
- Platina believes the drilling program could support progress towards defining a mineral resource while expanding its Laverton gold exploration portfolio.
Platina Resources Limited (ASX:PGM) has completed the acquisition of the Sunrise Bore Project in Western Australia's prolific Laverton gold district. The acquisition, made through the purchase of Bravo Minerals Pty Ltd , marked the addition of a new exploration asset to its Laverton gold exploration portfolio.
The company has also commenced a Phase 1 reverse circulation drilling program, targeting a section of the 1.2km historically identified gold mineralisation trend within the project area.
Terms of the Acquisition Satisfied
Settlement of the acquisition has been completed in line with the terms announced on 17 June 2026 , giving Platina a 100% interest in Exploration Licence E38/4038 , located in the Mt Morgans gold district near Laverton, Western Australia .
As part of the transaction, Platina paid AUD 350,000 in cash , including the previously paid AUD 50,000 deposit , issued 40,625,307 shares valued at AUD 800,000 , and granted a 1% Net Smelter Return (NSR) royalty .
Phase One Drilling Program Begins
The first phase of exploration drilling commenced today , with the reverse circulation (RC) program comprising 23 holes for approximately 2,775 metres . The campaign is designed to test a 0.25-kilometre section of the broader 1.2-kilometre historically identified mineralised trend , which lies within a 3.6-kilometre structural corridor .
The initial drilling campaign is expected to take approximately 14 days to complete .
The company recently completed a detailed technical review of the project and obtained the necessary cultural heritage clearances ahead of the drilling campaign.
About the Sunrise Bore Project
The Sunrise Bore Project is situated within Western Australia's Eastern Goldfields region . The tenement has undergone limited modern exploration and is considered prospective for structurally controlled gold mineralisation .
Platina Chief Executive Officer Corey Nolan expects the Sunrise Bore Project to progress towards a mineral resource through a systematic drilling program designed to extend known mineralisation along strike and down dip .
PGM shares traded at AUD 0.019 per share, up over 5.5%, at the time of writing on 26 June 2026.
