Good acquisition: "Platina Resources Limited (ASX: PGM) is seeking to expand its portfolio of gold exploration assets in Western Australia, applying for an exploration licence (E 51/2114) for the Jubilee Gold Project, 15km east of Meekatharra in the Murchison Province. Located within the prolific gold producing Yilgarn Craton, the exploration licence application covers 156km2 over 51 blocks in close proximity to Westgold Resources’ (ASX:WGX) Meekatharra Gold Operation, which incorporates the 1.8 million tonnes per annum Bluebird gold processing hub covering the Paddy’s Flat, Yaloginda, Nannine and Reedy’s open-pit and underground mining centres. Paddy’s Flat is a large, historic gold field which has produced in excess of 1.5 million ounces. Jubilee also adjoins the eastern border of Great Boulder Resources’ (ASX:GBR) Side Well Project which hosts the high-grade Mulga Bill prospect which has returned very high-grade drilling intersections." "Mr Nolan said that once the tenement was granted, Platina could quickly mobilise via the Goldfields Highway and commence field activities, which would include a gravity survey and a low-cost reconnaissance geochemistry program to identify targets for future drilling. And not far to move the rigs: "Jubilee lies 150km north of the company’s Challa Gold Project where the company recently completed a 3,500m air core drill program."
Platina has share investments in the following companies • Major Precious Metals (49 million shares, NEO.SIZE) – Major is a Canadian mining and exploration company whose flagship Skaergaard Project hosts one of the world’s largest undeveloped gold deposits and one of the largest palladium resources outside of South Africa and Russia; • Alien Metals (~130 million shares, AIM.UFO) - Exploration and mining project developer focused on precious and base metal projects including the Hamersley Iron Ore Project, Elizabeth Hill Silver Project and the surrounding Munni Munni exploration permits, all located within the Pilbara region of Western Australia, as well as two silver projects and a copper gold project in Mexico; • Blue Moon Zinc Corporation (6 million shares, TSXV.MOON) – the Blue Moon Zinc Project has a NI43- 101 resource which is open at depth and along strike; and • Nelson Resources Limited (5.8 million shares, ASX.NES) – West Australian focused gold exploration company.
PGM Price at posting:
3.4¢ Sentiment: Buy Disclosure: Held
