Platina Resources is set to take full advantage of the soaring gold price by drilling two of its gold projects in 2024.
Platina will commence further drilling at its Xanadu and Beete gold projects in WA as the gold price starts the new year above $US2000 an ounce.
“Platina’s cash position is more than $9 million, ensuring drilling programs can be delivered without dilution to shareholders,” Platina managing director Corey Nolan said.
“The company is actively planning and securing approvals to commence a major phase of exploration reflecting our commitment to enhancing value through strategic drilling activities.”
Xanadu’s gold alteration footprint extends for over 10km in strike length, and three proposed diamond drill tails up to 500m will seek to find the source of gold within the system.
Proposed reverse circulation drilling will test the Amphitheatre West extension and exploration activities at Hermes South will also be advanced by progressing with geological mapping and sampling.
“We’re particularly eager to commence further drilling at our Xanadu gold project in the Ashburton Basin to unlock the potential presence of a very large gold system at Xanadu Deeps,” Nolan said.
“Beete’s gold, nickel and lithium potential remains hidden under a shallow blanket of cover and drilling will aim to test for bed rock anomalies using targets generated through soil sample analysis and geophysical interpretations.”
Platina has commenced cultural heritage clearance processes and is planning for drilling to commence in the second quarter of 2024.
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