Highlights:

• Platina Resources (ASX:PGM) plans to commence exploration at the Mt Narryer Project early next year.
• The company is awaiting the granting of the Exploration Licence (E 09/2704), which sits within a highly prospective province.
• Initially, the company plans a low-cost reconnaissance geochemistry program to define targets.

ASX-listed Western Australia-focused gold explorer Platina Resources Limited (ASX:PGM) has announced exploration plans for the Mt Narryer Project.

The company intends to commence the exploration program in early 2023 following the granting of the Exploration Licence (E 09/2704). The exploration licence sits within Western Yilgarn, which is well known for hosting the Julimar nickel and platinum group metals discovery.

Triggered by the update, PGM share price gained 5.55% in the early morning on 20 December to trade at AU$0.019. The company’s market capitalisation stood at AU$11.21 million.

Mt Narryer in province hosting new nickel and PGM discoveries

The Mt Narryer exploration licence, which covers an area of 211 square kilometres, is located 580km north of Perth. The exploration licence sits within an exciting new exploration province in the Western Yilgarn. 

The company believes in the project potential, given some new nickel and platinum group metals discoveries to the south along the Darling Fault zone. 

In the past, the project has not witnessed any intense mineral exploration, owing to the lack of outcropping ‘greenstones’. The company suggests that these greenstones host most of the gold and base metal deposits in the Yilgarn Craton of Western Australia. 

This is what Platina’s Managing Director Corey Nolan has to say about the latest development:

(Source: © 2022 Kalkine Media®, data source: Company update, 20 December 2022)

The project location provides easy access and accommodation for the field crews, as it straddled the Carnarvon-Mullewa Road and was only 20km north of the Murchison township.

What’s on cards for Mt Narryer in 2023?

Platina plans to initially focus on a low-cost reconnaissance geochemistry program to identify targets for follow-up with geophysics and drilling.