Sponsored

Platina Resources (ASX:PGM) In Fine Fettle To Unlock WA Gold Potential

Summary

  • A significant gold producer, Australia sits on substantial untapped minerals.
  • With record gold prices, value of gold-related projects has increased immensely.
  • Platina Resources gauged the market situation at the right time and decided to give undivided attention to gold projects in Australia.

2020 was the year of yellow metal. Shining brighter during the gloomy pandemic period, gold continues to attract investors’ attention and demonstrate why it is called a safe-haven asset.

The value of gold-related projects increased by 35 per cent over the 12 months from the start of November 2019 to the end of October 2020, as per the Resources and Energy Major Projects Report, December 2020. Around AUD 3.9 billion worth of gold projects were at the committed stage last year, the report highlighted. 

Australia is a major gold producer in the world, with multiple gold mines operating in the country currently. Western Australia remains the hub of gold projects and accounts for nearly 70 per cent of the total Australian gold production. The gold exploration and mining companies operating in the state are significantly adding to the growth and development of WA.

Platina Resources - Gold Explorer with Key Projects in WA

Platina Resources Limited (ASX: PGM) achieved significant landmarks in 2020, directing its strategic focus towards Australian gold. The company acquired new gold projects in Western Australia, as part of its strategy to build gold portfolio amid record gold prices. The company has also been evaluating various gold M&A opportunities.

Mostly Untapped Gold Treasure - Challa Gold Project in WA 

Platina Resources wholly owns the extremely promising Challa gold project, sitting in the prolific location of Western Australia. It is located 500km north-east of Perth and between the bountiful gold districts of Mt Magnet and Sandstone.

Since it was found in 1891, Mt Magnet has delivered more than 6 million ounces of gold. The Sandstone area has produced more than 1.3 million ounces of gold from various open pit and underground mining operations. The Youanmi Gold Mine, nearby the project area, is currently at the core of new resource drilling of top-quality gold lodes. This mine has produced 670,000 ounces of gold till now. 

The Challa Gold Project area has undergone minimal modern exploration and holds prospects for an enormous amount of yellow metal. The project is further segmented into Challa East and Challa West. 

Challa East comprises outcropping gold mineralisation and Paynesville gold-bearing with various gold operations and occurrences. On the other hand, Challa West includes favourable greenstone host rocks and a central structure with 1Moz Au deposits. It also has hydrothermal alteration adjacent to zones of significant structural displacement.

The Company has completed a major soil sampling program at the project. The campaign has indicated that for upcoming exploration activities, there remains a possibility to incur less costs than earlier budgeted.  

Mt Narryer Project – Another Golden Gem

Mt Narryer Project is another exciting gold project held by Platina Resources. Located in the prolific western Yilgarn Craton region, it includes a tenement application (E09/242) covering 165 square kilometres.

The region has not gone through many exploration activities due to the lack of outcropping greenstones. The targets are similar to the Julimar nickel-copper-PGE discovery 160 kilometres to the south.

The Company plans to commence a soil sampling program after securing the tenement.

On 5 January 2021 (AEDT 03:21 PM), PGM traded at AUD 0.051.


Disclaimer
The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.
   
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK