Platina Resources Limited (ASX:PGM) (FRA:P4R) (OTCMKTS:PTNUF) has started a 10,000-metre winter drilling program at Blue Moon, a high-grade, zinc-copper-rich massive sulphide project with gold and silver precious metal credits, in the US state of California.
The Western Australian company expects to diamond drill 2,000 metres in a 4-hole phase I campaign at the earn-in project this year and finish off another 8,000 metres of drilling next year.
Platina hopes to produce a JORC-compliant resource for the project and a metallurgical test work output ahead of a pre-feasibility study in the December 2020 half-year.
Shares are up 15% today to 2.3 cents.
Test southern plunge
The company plans to test a potential southern plunge in a mineralised zone in its drilling in an area that contains most of the projects existing resource.
Its testing will also take in high-grade historical holes in an effort designed to help it build a higher grade core for the deposit.
The company said it would also test an upper extension of the main and east mineralised lenses, noting the east lens typically had higher grade gold and silver.
“Significant exploration upside”
Platina Resources managing director Corey Nolan noted the goal was to build a resource in an attractive zinc-copper-gold and silver commodity suite.
Nolan reported, “The Blue Moon project provides shareholders with exposure to another exciting investment opportunity at an early stage, which will generate significant news flow as it advances through exploration, feasibility, perming and into development.
“It has an existing resource of zinc-copper-gold plus significant exploration upside within the main iRead More – Source