What's Happening?
Platina Resources has announced its acquisition of the Mt McKenna Gold Project, located in the Laverton gold district of Western Australia. The acquisition involves purchasing all shares in Jasper Exploration, the current owner, for A$320,000, along with issuing 20 million ordinary shares and granting a 1.5% net smelter royalty. The project is strategically positioned near Laverton, offering logistical advantages for exploration activities, which include soil and rock chip sampling, gravity surveys, and drilling. These activities are set to commence following a cultural heritage survey, a standard prerequisite for mining operations in the region.
Why It's Important?
The acquisition of Mt McKenna by Platina Resources is significant as it aligns with the company's corporate objective of generating shareholder value through exploration. The project's proximity to Laverton provides logistical benefits, potentially reducing costs and increasing efficiency in exploration activities. The geological potential of the area, marked by significant regional faults and high-grade gold discoveries, presents promising opportunities for gold and nickel mineralization. This acquisition could enhance Platina's portfolio and strengthen its position in the competitive mining industry.
What's Next?
Following the completion of the acquisition, Platina Resources plans to initiate exploration activities immediately after the cultural heritage survey. The company aims to leverage the geological potential of the Mt McKenna site, focusing on the contact zone between the greenstone belt and syenitic intrusion. The exploration will target pathways for gold mineralization, with the potential for nickel mineralization also being explored. These efforts are expected to advance Platina's strategic goals and contribute to its growth in the mining sector.
