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Highlights
- Platina is targeting >1Moz gold resource projects in WA’s Yilgarn Craton and Ashburton Basin.
- Diamond drilling at the Xanadu Project has been completed, with core samples undergoing detailed logging. Final assay results are pending.
- PGM plans to conduct shallow oxide drilling at Xanadu.
- At the Challa Project, aircore drilling has confirmed has new mineralised zones, including 12m @ 0.66g/t Au and 4m @ 0.37g/t Au.
- Maiden aircore program at the Beete Project identified several gold anomalies with further drilling scheduled for 3QCY25.
Platina Resources Limited (ASX:PGM) shares rose by 5% to AUD 0.021 on 27 June 2025, even though there are no new price-sensitive announcements. The share price uplift appears to be part of a broader rally in ASX-listed gold stocks, with the S&P/ASX All Ords Gold index recording a rise of 0.94% to 11,715.10 points. The sector’s strength is buoyed by a 0.98% increase in gold prices this week, with the precious metal currently trading at USD 3,320 per ounce.
Platina is a gold exploration company with assets in Western Australia’s Yilgarn Craton and Ashburton Basin. The company targets projects with an endowment potential of over 1 million ounces of gold. Its strategy focused on value-adding drill programs, evaluating acquisition targets, and divesting non-core or lower-potential assets.
Bolstered by the USD 14 million sale of its scandium project to Rio Tinto in 2023, Platina continues to drive its exploration strategy forward. The company also remains eligible for additional milestone-based payments under the deal, which could further support future initiatives.
With exploration activity underway to unlock resource potential across four key projects, Xanadu, Challa, Beete, and Brimstone, the company is targeting to capitalise on favourable gold market conditions.
Xanadu Project: Drilling Targets Deeper Gold Source
The Xanadu Project consists of seven prospecting licences and six exploration licences, collectively spanning 554km². The project is located adjacent to a 1.44-million-ounce (Moz) gold resource. The company is targeting gold mineralisation within a 10km corridor defined by previous shallow drilling on the western tenements.
A recently completed diamond drilling campaign focused on deeper geophysical anomalies to identify the primary source of mineralisation at depth. Core samples are undergoing detailed logging, and final assay results are awaited.
Furthermore, shallower oxide drilling is planned at Xanadu.
Challa Project: Encouraging Results Spark Further Drilling
The Challa Project lies within a district that hosts multiple gold deposits, including the Mt Magnet Mine which produced over 6Moz of gold, and Sandstone. The second phase of aircore drilling spanning 1,856m across 41 holes has confirmed two new mineralised gold targets at the project.
Notably, drill hole CHAC0155 intersected a mineralised zone of 12m @ 0.66g/t gold from a depth of 100m, including a higher-grade interval of 4m at 1.7g/t gold. Follow-up aircore drilling (including 14 holes for 1,690m) is planned to test for strike extension of this intersection.
Another significant result included 4m at 0.37g/t Au from 72m in CHAC0140. Both intersections were observed in areas where the aircore hole went to 94-117m depth, highlighting the presence of prominent faults or shear zones. These results have prompted plans for follow-up drilling to understand the geometry of the mineralisation.
Beete Project: Air Core Drilling Planned
The Beete Project is located along strike from the +5Moz Norseman gold centre and just 10km south of the Scotia gold deposit, which hosts an estimated 1Moz resource.
In 2024, a maiden aircore drilling program across 202 holes, covering 6,331m, confirmed the presence of several new anomalous gold targets.
The company intends to conduct aircore drilling (3QCY25) to test both gold and arsenic anomalies at the Beete project.
The follow-up aircore drilling program at Beete will cover 1,536m for 39 holes. The program will test for larger and more prominent mineralised signatures in areas which returned anomalous values of gold and arsenic in phase 1 drilling.
Brimstone Project: Advanced-Stage Drilling at Garibaldi Prospect
The Project is located near the Penny’s Find deposit, owned by Horizon Minerals. Covering an area of 70km², the project includes a mining licence at the Garibaldi Prospect. The prospect has returned thick and high-grade intersections from recent drilling efforts.
Platina is currently assessing various development options to unlock the project's full value where historical drilling data at Garibaldi has demonstrated significantly mineralised deposit.
Platina Resources continues to advance exploration work to unlock gold potential across its Western Australian portfolio. Assay results from recent drilling are awaited with new exploration phases planned across projects.
PGM shares were trading at AUD 0.021 per share at the time of writing on 27 June 2025.
