Mt Hawthorn-based Platina Resources has flagged additional drilling at two of its major gold projects in Western Australia.
With the gold price hitting more than $U2,000, or $A2,981 per ounce, early in 2024, the exploration company told the market on Tuesday that it was keen to make the most of the current gold pricing landscape.
Managing director Corey Nolan said the Platina's positive balance sheet could aid further operations at its Pilbara-based Xanadu gold project, located in the Ashburton Basin - along with its Beete gold project, situated 50km south of Norseman.
“Platina’s cash position is more than $9 million ensuring drilling programs can be delivered without dilution to shareholders,” Mr Nolan said.
“The company is actively planning and securing approvals to commence a major phase of exploration reflecting our commitment to enhancing value through strategic drilling activities."
Starting at Xanadu West, Platina is aiming for three diamond drill tails, each up to 500m, to locate gold sources through tailored testing, albeit with a deeper focus.
This is expected to begin once weather conditions improve in the region.
Additionally, it is mooted 2,900m of reverse circulation drilling over 13 holes will occur at Xanadu West's Amphitheatre West extension target, along with other specific targets nearby.
A designated aircore drilling program is also being scheduled at Platina's Beete gold project, a site which Mr Nolan believes has plenty of upside.
“Beete’s gold, nickel and lithium potential remains hidden under a shallow blanket of cover and drilling will aim to test for bed rock anomalies using targets generated through soil sample analysis and geophysical interpretations," he said.
Presently, Platina has seven projects across WA.
