Platinex Inc. (CSE: PTX) (Frankfurt: 9PX) (“Platinex” or the “Company”) is pleased to provide an update on its 225 km2 Shining Tree Gold Project (“Shining Tree” or the “Project”) located in the Abitibi region of Ontario, a world-renowned gold district. The Company has commenced an exploration program designed to identify new gold targets in five areas located outside the central core of the property that are underexplored yet highly prospective. Prospecting, geological mapping, litho-geochemical sampling, and soil sampling will be carried out in each area (see attached image). The Company has also engaged a resource firm to compile historical data and model previous drilling in the central area and the recently acquired mine area (Ronda Mine). An exploration target review of the Herrick deposit will also be completed to identify potential expansion and infill drilling targets.
Exploration will also cover areas identified by Windfall Geotek Corp.’s (“Windfall”) artificial intelligence (“AI”) process. Windfall identified several new targets outside of areas of previous exploration activity (see attached image).
Following the conclusion of current activities, the Company will analyze data from newly generated targets and the compilation and modelling of the central area of the Shining Tree property to determine the highest priority targets for further exploration and drilling activities later this year. The exploration plan includes stripping and trenching of the priority targets to generate high quality drill targets.
New Target Generation and Location
Several areas targeted as part of the current exploration program are on ground that Platinex acquired through recent property acquisitions from Treasury Metals Inc. (July 2020), Alamos Gold Inc. (August 2021), and Skead Holdings Limited (March 2022). These areas have not seen exploration activities by Platinex.
Target Area #1: This target area located within Churchill Township covers several splay faults/shears off the Ridout-Tyrrell Fault Zone (“RTFZ”). Features of interest include potential iron formation within the Porcupine assemblage immediately Northwest of the Herrick Deposit along with the iron formation and the mylonitized, mineralized and deep-seated contact between the Keewatin-Porcupine assemblage in the Churchill and Corona gold occurrences area. Target #1 is characterized by a large magnetic high, with flanking lows, that is similar in size, and exhibits a similar magnetic gravity signature, to that found at the nearby Juby deposit.
Target Area #2: This target area located in northern MacMurchy Township covers the east-west-trending sheared Keewatin-Porcupine assemblage contact and is host to numerous northwest-trending splay structures off the RTFZ. The target area is coincident with some significant gold-in-till anomalies.
Target Area #3: This target area occurs in south-central MacMurchy Township.and was selected as a priority target by Windfall. The target area is cut by a north-northwest-trending fault like the Michiwakenda Lake Fault, parallel to and 400m east of the Herrick deposit in southeastern Churchill Township.
