Platina Resources advanced its Western Australian gold exploration with significant aircore drilling at Mt McKenna, acquisitions of Sunrise Bore and Mt Morgans South projects, and a leadership change appointing Dr Paul Polito as CEO.
- 10,809m aircore drilling extends gold zones at Mt McKenna
- Sunrise Bore and Mt Morgans South acquisitions boost Laverton landholding beyond 312km²
- Initial RC drilling underway at Sunrise Bore with assays pending
- Dr Paul Polito appointed Managing Director and CEO
- Cash position strong at A$8.61 million with $964,000 exploration spend
Drilling Success at Mt McKenna Uncovers New Gold Corridors
Platina Resources (ASX:PGM) completed an extensive 10,809-metre aircore drilling campaign at its 100%-owned Mt McKenna Project in Western Australia's Eastern Goldfields. The program, targeting extensions of previously identified mineralised structures, revealed promising gold intercepts including 1 metre at 7.10 grams per tonne (g/t) gold and 4 metres at 4.69 g/t gold. Notably, at the Granite Well East prospect, drilling defined a new mineralised corridor stretching over one kilometre, while Black Rock and Granite Hill prospects showed strong arsenic anomalies and gold-bearing intersections indicative of a north-north-east trending structure exceeding 800 metres in length.
Several mineralised zones terminated near the bottom of holes, prompting plans for follow-up reverse circulation (RC) drilling later this year. The company secured a $109,200 grant from the Western Australian Government’s Co-funded Exploration Drilling Program to support a 13-hole RC program targeting these prospects in late 2026, underpinning the strategic importance of this discovery phase.
Strategic Acquisitions Expand Laverton Footprint
Platina significantly expanded its Laverton gold portfolio by acquiring 100% interests in the Sunrise Bore and Mt Morgans South projects, boosting its landholding to over 312 square kilometres. The Sunrise Bore acquisition, completed through the takeover of Bravo Minerals, added a granted exploration licence covering 11.59 km² in a historically mineralised corridor near the multi-million-ounce Sunrise Dam mine. A 2,863-metre RC drilling program commenced post-quarter to test a 250-metre section of a broader 1.2-kilometre gold trend, with assay results expected in August 2026.
The Mt Morgans South acquisition from Genesis Minerals added 18 tenements covering 126.4 km², including exploration and prospecting licences. Platina paid $100,000 in cash and issued 5 million shares, with an additional $550,000 milestone payment contingent on defining a JORC-compliant resource of at least 200,000 ounces of gold. The company plans to integrate historical data, conduct heritage agreements, and undertake soil sampling to generate drill targets, aiming for coordinated exploration across its Laverton assets.
Other Project Developments and Portfolio Management
At the Beete Gold Project near Norseman, no fieldwork occurred this quarter as Native Title requirements are being finalised. Platina intends to undertake RC drilling around historical high-grade zones once clearances are secured. Meanwhile, the Brimstone Project saw the withdrawal of several tenements due to anthropological constraints, with a farm-in and joint venture agreement allowing NE Minerals to earn an 80% interest by funding exploration through to a decision to mine.
The Jubilee Project remains under native title negotiation, with exploration activities planned upon grant. The Binti Binti Project saw the surrender of one tenement deemed non-prospective, with no site work conducted during the quarter.
Leadership Transition and Financial Position
Platina appointed Dr Paul Polito as Managing Director and CEO effective 20 July 2026. Dr Polito brings over 30 years of experience in exploration and mine development, including senior roles at IGO and Anglo American. The transition followed the resignation of Mr Corey Nolan, who remained CEO during the handover period.
Financially, Platina ended the quarter with a robust cash balance of A$8.61 million. Exploration and evaluation expenditure amounted to $964,000, reflecting active investment in advancing its project pipeline. The company reported no mining production or development activity during the period, consistent with its exploration-stage focus.
Bottom Line?
Platina’s expanded Laverton footprint and promising drilling results position it well for upcoming assays and targeted RC programs, with the new CEO’s expertise likely to shape the next phase of exploration.
Questions in the middle?
- Will assay results from Sunrise Bore confirm the historical mineralisation and justify further drilling?
- How will the planned RC drilling at Mt McKenna’s new gold corridors impact resource definition timelines?
- What strategic shifts might Dr Paul Polito introduce to accelerate Platina’s exploration success?