New gold corridor found at Platina's Mt McKenna – deeper targets open

Platina Resources (ASX:PGM) has identified a new gold corridor at its Mt McKenna project in Western Australia's Laverton gold district. The discovery came from 10,809 metres of aircore drilling across 220 holes in two phases. CEO Corey Nolan said the results indicate a mineralised corridor of more than one kilometre strike at the Granite Well East prospect.

A coherent north-northeast trending structure runs over 800 metres at the Black Rock Prospect, with elevated arsenic values and multiple anomalous gold intercepts. Key drill hits include 1.0 metre at 7.10 grams per tonne gold 40 metres downhole, ending one metre above the bottom of hole; 4.0 metres at 1.11 g/t from 12 metres; and 7.0 metres at 0.61 g/t from 36 metres, including 2.0 metres at 1.41 g/t from 40 metres.

"The multiple mineralised zones within the southern drilling area are highly encouraging and provide strong evidence for a potentially much larger gold system beneath the weathered profile," Nolan said. He described the association between gold and strong arsenic anomalism in two holes as "particularly exciting," opening an entirely new exploration corridor. The favourable structural setting, intrusive geology and pathfinder geochemistry create an excellent environment for larger gold deposits, he added.

Nolan also welcomed a $109,200 grant from the West Australian government's co-funded exploration drilling program. The money will support a 13-hole reverse circulation drilling program at Target 2, where the company plans to test deeper extensions of structures identified through aircore and gravity surveys. That program forms part of a follow-up RC campaign planned for later this year.

Granite Well East sits at the intersection of two major geological domains: a north-northwest trending regional mafic-syenite sequence and a west-northwest trending Diorite Hill mafic-ultramafic intrusive complex. The convergence is interpreted as a structurally favourable setting where two major corridors intersect. Brightstar Resources' Alpha Gold deposit lies roughly 20 kilometres southwest along the same north-northwest structural corridor, which runs broadly parallel to the Granite Well Fault.

A follow-up aircore drilling program is planned to infill and extend the newly identified mineralisation. The results reinforce the view that the Laverton district remains prospective for new discoveries, particularly where weathered profiles mask deeper gold systems. For a broader look at the metal's market context, see the gold profile.