Platinex Reports the Start of Diamond Drilling

Platinex Inc. has announced the start of a diamond drilling…

Platinex Inc. has announced the start of a diamond drilling campaign on the Heenan Property, which is part of the Heenan Mallard Gold Project and is held by the South Timmins Mining Joint Venture with Fancamp Exploration Limited. Following up on the greenfield gold discovery announced on November 9th, 2023, which was generated using B-horizon soil geochemical studies, prospecting, and a mechanized stripping/channel sample program, the program will consist of five drill holes totaling 950 m.

Platinex Reports the Start of Diamond Drilling at the Heenan Gold Project

Heenan Property Geology. Image Credit: Platinex Inc.

The Heenan Property is located in Northwestern Ontario, within the Swayze area of the Abitibi Greenstone Belt. The property is positioned on the fold nose of the Woman River magnetic high, indicating a structural target favorable for gold, and served as the foundation for the exploration effort.

The Heenan Mallard Gold Project is immediately adjacent to Northern Superior’s October Gold Property, which Evolution Mining Ltd. recently optioned, and is also northwest of IAMGOLD Corp.’s Côté Gold Project.

The drill holes will test multiple high-priority Spectral IP anomalies that overlap with a northwest-oriented structure known as the Mallard Shear Zone, as well as target mineralization discovered in Trench 1 and Trench 2.

The Mallard Shear Zone is a regional structure that has been interpreted as a splay structure off of the larger Ridout Deformation Zone. This structure could act as a conduit for hydrothermal fluids to deposit gold mineralization along favorable Archean stratigraphy layers.

Platinex recently discovered gold mineralization related to felsic to intermediate dykes and iron formation within the metavolcanic phase. In Trench 2, substantial silicification and sulfide mineralization inside a felsic to intermediate dyke at the contact with the iron formation gave a composite weighted average of 4.05 g/t Au over 2.00 m, with the adjacent iron formation returning 2.39 g/t Au over 8.00 m.

Shining Tree Gold Project – Ronda Mine

Platinex has stated that a significant program at Shining Tree has been completed, with assays due in January 2024. The program entailed automated stripping and channel sampling on the Ribble Vein at the former Ronda Mine site.

The Ribble vein was uncovered in two stripped portions totaling 1,360 m2 for a total strike length of 144 m. 265 samples were submitted for examination, including 37 quality-control samples made up of standards, blanks, and duplicates.


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