Platina Bolsters Laverton Portfolio with Mt McKenna and Sunrise Bore Deals

Strategic Acquisitions Bolster Laverton Presence

Platina Resources Limited (ASX, PGM) has made significant strides in its quest to become a leading gold exploration company, highlighted by the acquisition of the Mt McKenna Project in the world-renowned Laverton gold district of Western Australia. This 174 square kilometre tenement lies close to established gold mines such as Granny Smith and is considered a high-quality, drill-ready opportunity that aligns with Platina’s strategy to focus on projects with near-term potential to deliver shareholder value.

Following this acquisition, Platina also entered a conditional agreement to acquire the Sunrise Bore Gold Project, further expanding its Laverton landholding. Sunrise Bore, covering 12 square kilometres, is strategically located near several historic gold mines and features a 3.6-kilometre mineralised strike with promising high-grade intersections from previous drilling.

Exploration Progress and New Prospects

Exploration activities at Mt McKenna commenced promptly after receiving cultural heritage clearance, enabling a streamlined and cost-effective program. Initial work included a high-resolution gravity survey, surface mapping, and rock chip sampling, designed to refine geological interpretations and target drill locations. The company plans to focus aircore drilling on prospective greenstone belts and structural zones identified through geophysics and historical data.

At the Beete Project near Norseman, Platina has defined exciting new exploration prospects following a 1,338-metre aircore drilling campaign. The program targeted two zones along a 16-kilometre shear trend, intersecting anomalous gold values that warrant further investigation with follow-up drilling and geophysical surveys.

Portfolio Rationalisation and Financial Position

In a move to sharpen its focus, Platina divested its interest in the Xanadu Project in the Ashburton Basin to Kalamazoo Resources. The transaction includes a share issuance and potential cash payments contingent on resource milestones, allowing Platina to concentrate capital and management attention on its core Laverton projects.

Financially, Platina ended the quarter with a robust cash and tradeable equity position of approximately A$10.66 million. The company reported net cash outflows from operating and investing activities, consistent with its active exploration and acquisition strategy. No mining production occurred during the quarter, underscoring Platina’s current focus on resource definition and project advancement.

Outlook and Market Implications

Platina’s recent acquisitions and exploration progress in a world-class gold district position the company well to unlock value through targeted drilling and resource development. The conditional acquisition of Sunrise Bore, pending shareholder approval, could further consolidate Platina’s footprint in a highly prospective region. Investors will be watching closely for upcoming drilling results and heritage clearance developments that could catalyse re-rating of the stock.