Platinex Announces Intentions for Activity Focus This Year - Seite 2

Exploration on the Shining Tree property has identified an extensive, significant gold in till anomaly. Such an anomaly is caused by real gold grains in soil which may be sourced from nearby mineralization in the ground. The anomaly covers a 9 km strike length perpendicular to the glacial direction and is defined by 446 samples, 169 of which contain 10 or more gold grains.

In 2009-2011 Platinex drilled 51 holes to explore the Herrick deposit. Fifty of the holes intersected one or more zones of gold mineralization. The deposit has been tested along a 400m strike and to a depth of 300m. The mineralized zone appears to be thickening at depth with zone widths of up to 46.1 m recorded in drilling. The hole to hole continuity of gold mineralization has positive size implications. If the grades found near surface of 7- 12 g/t Au repeat at depth there may be potential for a deposit similar to known large scale deposits in the Abitibi.  Including the former producing Ronda Mine there are more similar targets on the property.

Several gold deposits have been explored in the past on the Shining Tree property which display in different locations two persistent gold associations (the first is gold-arsenic and the second gold telluride). These are signature features prominent in major gold camps such as Kirkland Lake. Several of these deposits warrant additional exploration.

Past exploration on the Shining Tree property by Platinex and others had focussed on gold mineralization and occurrences associated with an east west shear zone close to Hwy 560. Very little exploration had been conducted on much of the TRDZ and there had been no effort to identify low grade deposits akin to the Côté Lake deposit. Realizing this opportunity in 2016 and 2017 Platinex expanded its holdings five-fold covering a 21 km strike length of the TRDZ. This holding now comprises 876 heritage claim units for 14,967 ha or 36,984 acres. Approximately 80% of the property is 100% owned by Platinex and is free of underlying royalties. Letters of Intent have recently been signed which if concluded would increase the property size to 15,532ha or 38,379 acres.