Platina Resources gears up for an exciting year ahead following steps taken in December quarter

Platina Resources Limited (ASX:PGM) is poised for a robust year ahead banking on the numbers of steps taken by the company in the December quarter During the quarter, the company completed the sale processes related to Skaergaard Project in Greenland, started exploration activities at Challa Gold Project and withdrew from Blue moon joint venture. All these steps are likely to give a boost to the company’s operation in the FY2021. Challa Gold Project, Western Australia During the quarter, Platina started its first exploration activities since acquiring the Challa Gold Project that is in-between the prolific Mt Magnet and Sandstone gold districts in Western Australia, 500 kilometres north-east of Perth. Platina started an initial reconnaissance and soil sampling programs at Challa during the quarter. This comes after initial soil sampling completed last year confirmed several highly prospective zones. Assaying of 696 soil samples confirmed a strong correlation to mineralised outcropping veins previously identified in the October reconnaissance program that returned grades of 1.62 g/t and 5.89 g/t gold in rock chip samples. The company plans to use air core drilling for identifying gold anomalism once a Plan of Works (POW) is approved by the Western Australian Mines Department. Deeper gold targets identified by soil sampling and future air core drilling will be drilled with reverse circulation or diamond drilling. As a result, the company has identified a number of target areas to be followed up with a more comprehensive gridded soil program to pinpoint targets for follow-up drilling. Plana Scandium Project, New South Wales Platina has planned to update an independent scandium market study previously produced for the DFS to assess new market opportunities and identify new industry players potentially interested in offtake and investment. The company also started the second phase of test work in November 2020 to determine whether scandium could be recovered using a solvent extraction process similar to that in use at titanium dioxide pigment plants to recover scandium from spent acid. Platina has also been assessing the technical and economic viability of developing a battery materials processing plant that would produce nickel, cobalt, high purity alumina (HPA) and scandium from ores sourced throughout the Australia/Pacific region and blended with Plana ore.