For personal use only

Transcription

1 ASX/Media Release February 7, 2013 Platina expands exploration portfolio in Western Australia Platina Resources Ltd (ASX: PGM) is pleased to confirm that it has applied for five (5) new tenements covering approximately 1,520km 2 in the south-east of Western Australia. Once granted, these applications will add three new wholly-owned projects to the Company s exploration portfolio of precious and specialty metal projects (refer Figure 1). A project generation team led by Exploration Manager, Mark Dugmore and comprising Industryrecognised geologists and consultants is focussing on the discovery of new PGE and gold deposits in Australia, identifying new projects in previously unrecognised or poorly-explored districts under shallow cover. Wylie Project At the new Wylie Project, located 240km NE of Esperance, two Exploration Licence Applications (E69/3111 and E69/3112) covering 602km 2 have been lodged. These applications cover a large buried coincident magnetic and gravity feature (refer Figure 2) within the southern part of the Albany Fraser Orogen. The area is interpreted by Platina team to be a 72km 2 mafic intrusive complex and have potential for a large Ni-Cu-PGE deposit analogous to the world-class examples of Vale s Voisey s Bay in Canada, and the Pechenga and Noril sk deposits in Russia. Numerous feeder dykes, with strike lengths >10km, are interpreted to intersect a larger body some 4km x 18km in size. The mineral resources 1 at Voisey s Bay are contained as distinct deposits within the feeder dykes and at the junction with the main intrusive complex, and PGM has identified similar target areas at Wylie for priority follow-up testing. Roundill Project Two Exploration Licence Applications (E28/2280 and E28/2281) covering 410km 2 comprise the new Roundill Project (refer Figure 3), located 100km SE of Kalgoorlie. The project has potential for large orogenic lode gold deposits within mafic volcanics/sediment-hosted and shear-hosted environments analogous to the Gwalia and Tower Hill gold mines within the Eastern Goldfields region of the Yilgarn Craton. More than 40km of strike length of Banded Iron Formation (BIF) has also been interpreted to occur mostly beneath cover within the project area. Many large gold deposits are hosted within BIF in the Eastern Goldfields of Western Australia. This potential BIF horizon has been poorly tested by previous exploration and PGM will carry out an exploration program to evaluate the horizon as a priority. Rason Project A third area, the Rason Project (refer Figure 4), comprises a single Exploration Licence Application (E69/3094) covering 508km 2 The area is located approximately 400km northeast of Kalgoorlie. The Tropicana Gold Project is located approximately 70km to the southwest and is being jointly developed by AngloGold Ashanti Ltd and Independence Group. The NE strike continuation of

2 similar rock units to those which host the Tropicana gold deposit and the nearby Tropicana East project, owned by Beadell Resources, have been interpreted to occur beneath cover within this project. PGM anticipates a program comprising detailed geophysics and drilling once this tenement is granted. The Company is excited by the exploration potential of these new opportunities and will immediately proceed with a detailed assessment of all available data over the areas and will acquire any further geophysical information necessary to help identify targets for drilling at explorable depths following grant of the applications. Yours faithfully Robert W. Mosig Managing Director For further information, please contact: Mr Rob Mosig, Managing Director Platina Resources Limited Telephone: admin@platinaresources.com.au Website: The information in this report that relates to Exploration Results is based on information compiled by Mr Mark Dugmore who is a full time employee of Platina Resources Limited and who is a Chartered Professional Member of The Australasian Institute of Mining and Metallurgy. Mr Dugmore has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Dugmore consents to the inclusion in the report of the matters based on this information in the form and context in which it appears. References: 1. Voisey s Bay Nickel Company website

3 About Platina Resources Platina Resources Limited (ASX: PGM) is an international resource company focused on the exploration and development of a global portfolio of precious and specialty metal projects. Platina has been listed on the ASX since May Platina's core focus is on three advanced, 100%-owned resources - the Skaergaard Gold and Platinum Group Metal (PGM) Project in Greenland, the Owendale Platinum and Scandium Project in Australia, and the Munni Munni PGM Project in Australia. Platina's aim is to create shareholder value by advancing these projects into production as rapidly as possible. In the longer term, the Company's objective is to discover new world-class precious metal deposits in mining friendly jurisdictions.

4 Figure 1. Location of new projects in WA

5 Figure 2. Wylie Project new ELAs on magnetics

6 Figure 3. Roundill Project new ELAs on magnetics

7 Figure 4. Rason Project new ELA on magnetics