Platinex Inc. has presented an update on its Shining Tree Gold Property, in which the company owns a 75% stake through the joint venture it has with Fancamp Exploration Ltd. called South Timmins Mining.
Both the Shining Tree Gold Property and the Heenan Mallard Gold Project, next to the Côté Gold Project of IAMGOLD and Aris Gold, respectively, are 100% owned by South Timmins.
At Shining Tree, the joint venture is working to identify new gold targets in several highly prospective and unexplored regions of the 225 km2 land package, including along the Ridout-Tyrrell Deformation Zone (RTDZ).
At the same time, it is carrying out more focused exploration efforts in the project’s central area to facilitate additional drilling at the Herrick deposit, the Caswell prospect, and the historic Ronda Mine.
In Area 3, work has started on new gold targets that have been discovered by generative work throughout 2022. Field personnel has deployed to start the follow-up work.
The property-wide data compilation has been completed by ALS Goldspot Discoveries, a geoscience AI and data laboratory. The data will be utilized by the company to complete its exploration and drilling plans for 2023.
Once the plans are complete, more details on the exploration efforts and drill schedules for Shining Tree and Heenan Mallard will be released in a subsequent news release.
A competent geoscientist with 24 years of expertise in mineral exploration, Joerg Kleinboeck, P.Geo., is in charge of the 2023 exploration activities at Shining Tree and Heenan Mallard. He has several years of experience working in the Shining Tree region, and he previously managed exploration activities at Heenan Mallard, which is noteworthy.
Platinex finished geochemical and prospecting operations for three regions that were deemed to be both highly promising and unexplored for gold mineralization during the fall of 2022.
The 1,905 B-horizon soil samples from regions 2, 3, and 5 that were sent to Activation Laboratories Ltd. for analysis have shown various locations that need more prospecting, infill geochemical sampling, and geophysical surveys to determine possible drill targets. Area 2 and Area 3 include the most prominent targets.
The Bob Lake Anomaly, a previously reported high-priority SGH (Soil Gas Hydrocarbon) anomaly in Area 3, was defined by Actlabs as having a “high probability that gold mineralization may be present,” and multiple abnormal B-horizon soil samples were returned that overlap with it.
The soil sample with the highest significance was 269913, taken near the center of the Bob Lake Anomaly and yielded 683 ppb Au. Over this target, further infill soil sampling has been suggested, then line cutting, geophysics (induced polarization and magnetic surveys), and drilling have all been suggested as the next steps.
Area 2 focuses on the RTDZ’s predicted 6 km strike length, which has undergone relatively little prior research.
A possible nearby bedrock source for the gold has been suggested by several highly anomalous B-horizon soil samples and till samples taken “down-ice” of the interpreted structure by Platinex in 2021 and 2022. These samples have gold values up to 380 ppb in the soil and up to 43 pristine gold grains in the till.
Line cutting, geophysics (induced polarization and magnetic surveys), prospecting “up ice” of the abnormal geochemical and till samples, and detailed infill soil sampling are all scheduled to move the target closer to potential inclusion in the next drill program.
According to National Instrument 43-101, Standards of Disclosure for Mineral Projects, Joerg Kleinboeck, P. Geo., a qualified person for exploration at the Shining Tree Project, has examined and approved the technical information included in this news release.