Platina Resources has launched an extensive 2026 drilling campaign across its Laverton gold portfolio, while advancing key acquisitions to nearly double its landholding and navigating leadership changes.
- Over 20,000m drilling planned across Laverton projects
- Phase 2 and 3 drilling underway at Mt McKenna with new targets
- Conditional acquisitions of Sunrise Bore and Mt Morgans South pending
- Cash balance of A$10.3 million supports fully funded exploration
- Managing Director Corey Nolan resigns with recruitment underway
Aggressive Drilling Program Targets Laverton Gold Potential
Platina Resources (ASX:PGM) is pushing hard on its 2026 exploration ambitions with a fully funded program exceeding 20,000 metres of drilling across key projects in Western Australia’s Laverton gold district. The current focus is on Mt McKenna, where Phase 2 and Phase 3 aircore drilling campaigns aim to extend a 1.5-kilometre mineralised structure first identified late last year. These drilling results, expected in the June quarter, will be crucial to validating the project’s potential.
After an initial 2,000 metres were completed, Phase 2 drilling was briefly paused due to mechanical issues but has since resumed alongside Phase 3, targeting multiple structural and geophysical anomalies refined by recent ground gravity and aeromagnetic surveys. These surveys have sharpened the geological model and generated several new high-priority targets across Mt McKenna’s extensive 174 square kilometre tenure, located just 13 kilometres east of Laverton town and near Genesis Minerals’ operations. This activity builds on earlier successes, including the maiden aircore drilling that first uncovered the mineralised trend and arsenic anomalies in late 2025, as detailed in the company’s prior 1.5km gold structure identification.
Strategic Acquisitions Set to Expand Laverton Footprint
Platina is also advancing conditional acquisitions of the Sunrise Bore and Mt Morgans South gold projects, which will collectively expand its Laverton landholding to over 312 square kilometres. Sunrise Bore, covering a 12 square kilometre exploration licence application, lies within a proven mineralised corridor that has not seen drilling since 1997. Meanwhile, Mt Morgans South, acquired from Genesis Minerals, adds approximately 126 square kilometres and sits just 45 kilometres from Mt McKenna, offering strong regional synergies.
Completion of these deals hinges on tenement grants and due diligence, both expected by the end of the June quarter. Once finalised, Platina plans to integrate exploration efforts across these adjacent projects to leverage shared infrastructure and geological insights. This expansion follows the company’s earlier announcement of the Mt Morgans South acquisition, which nearly doubled its Laverton footprint, underscoring Platina’s commitment to building a dominant presence in the district Laverton landholding expansion.
Portfolio Depth Beyond Laverton and Corporate Update
Beyond Laverton, Platina maintains interests in several other Western Australian projects, including Beete near Norseman, Brimstone near Kalgoorlie, and Jubilee in the Yilgarn Craton, although exploration activity in these areas remains limited or pending native title clearances. The company also completed the sale of its Xanadu project to Kalamazoo Resources, receiving shares and retaining a royalty interest, reflecting a strategic focus on core gold assets.
Financially, Platina ended the March quarter with a solid cash position of A$10.259 million, supporting ongoing exploration expenditure of $697,000 for the period. Operating cash outflows were just over $1 million for the quarter, consistent with the company’s active drilling and survey programs. Related party payments, including Managing Director Corey Nolan’s remuneration, amounted to $146,464.
Notably, Nolan has tendered his resignation during the quarter, providing three months’ notice. Platina has initiated a search for a new Managing Director and CEO, a development that introduces some uncertainty about leadership continuity during this critical phase of exploration and expansion.
Bottom Line?
Platina’s aggressive drilling and strategic acquisitions position it well in Laverton, but upcoming drilling results and leadership transition will be key to sustaining momentum.
Questions in the middle?
- Will Phase 2 and 3 drilling at Mt McKenna confirm extensions to the mineralised structure?
- Can Platina complete Sunrise Bore and Mt Morgans South acquisitions on schedule to capitalise on regional synergies?
- How will the Managing Director’s resignation impact execution of the 2026 exploration strategy?