Platina Doubles Laverton Gold Landholding to 312 km² with $200k Deal

Strategic Expansion in a World-Class Gold District

Platina Resources Limited (ASX – PGM) has made a significant leap in its exploration ambitions by acquiring a 100% interest in the Mt Morgans South Gold Project, located in the highly prospective Laverton gold district of Western Australia. This acquisition nearly doubles Platina’s landholding in the region to over 312 square kilometres, reinforcing its position in one of the world’s most prolific gold provinces.

The Mt Morgans South project is situated just 35 kilometres southwest of Laverton and lies within a prime geological setting characterised by Archean greenstones traversed by major faults and intrusives. These geological features are known to host multi-million-ounce gold deposits, making the area highly attractive for exploration.

Neighbouring World-Class Gold Operations

Strategically, the project is located near several major gold mines and deposits, including the Jupiter and Westralia mines, which together form the Mt Morgans Gold Operations with a combined resource of 3.4 million ounces. The world-class Wallaby gold mine, boasting nearly 3.9 million ounces in resources, lies just 12 kilometres east. Additionally, the project borders Iceni Gold Ltd’s Guyer prospect to the south, highlighting the district’s rich mineral endowment.

Platina’s Managing Director, Corey Nolan, emphasised the geological appeal of the acquisition, noting its proximity to established mines and ongoing exploration joint ventures nearby. The company’s recent acquisitions of the Mt McKenna and Sunrise Bore projects, located only 45 kilometres from Mt Morgans South, create opportunities for synergistic exploration and operational efficiencies.

Acquisition Terms and Exploration Plans

The acquisition from Genesis Minerals Limited includes four exploration licences and 14 prospecting licences covering 126.4 square kilometres. The deal involves a modest upfront payment of $100,000 in cash and $100,000 in Platina shares, with a milestone payment of $550,000 payable in cash or shares upon the definition of a JORC-compliant mineral resource of 200,000 ounces.

Platina plans a methodical exploration approach beginning with a comprehensive compilation of historical drilling, surface sampling, and geophysical data. The company will also formalise a heritage agreement with the Nyalpa Pirniku native title holders, ensuring respectful and compliant access to the land. Follow-up soil sampling and targeted field reconnaissance will focus on identified geophysical and geochemical anomalies.

Historical Data and Geological Context

The Mt Morgans South area has a rich exploration history dating back to the late 19th century, with modern exploration intensifying since the late 1980s. Over 660 drill holes totaling more than 37,000 metres have been completed by various companies, revealing widespread gold mineralisation. Surface sampling data exceeding 3,500 samples further supports the prospectivity of the area.

Geologically, the project lies within the Eastern Goldfields Superterrane, featuring complex structural zones such as the Celia and Laverton Tectonic Zones. These structures have historically controlled gold mineralisation, often associated with shear zones and quartz veining. The project covers three distinct target areas, each with unique geological characteristics that Platina intends to explore systematically.

Positioning for Future Growth

By consolidating its landholdings in the Laverton district, Platina Resources is positioning itself to leverage the region’s established infrastructure and geological potential. The company’s strategic acquisitions and planned exploration activities could unlock significant value, potentially leading to the definition of a substantial gold resource in the near term.