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Platinex Announces Drill Results at Shining Tree Property and Completes 3D Magnetic Inversion
TORONTO, Oct. 18, 2021 (GLOBE NEWSWIRE) -- Platinex Inc. (CSE: PTX) (the "Company" or "Platinex") is pleased to announce initial results in connection with a po
About this update from Ptx Metals Inc
[{"type":"text","content":"TORONTO, Oct. 18, 2021 (GLOBE NEWSWIRE) -- Platinex Inc. (CSE: PTX) (the \"Company\" or \"Platinex\") is pleased to announce initial results in connection with a portion of the planned Phase 1 drilling program conducted on the Shining Tree property and completion of magnetic data synthesis and magnetic inversion modelling. A short video showing the relationship between some of the data indicating prime exploration targets is on the home page of the website www.platinex.com. James R. Trusler, Chairman and CEO of Platinex, stated, “We have acquired a substantial amount of geological and exploration data during the last year which is enabling significant advancement of exploration of the property. We are pinning down the location and orientation of the Ridout Tyrrell Deformation Zone, (“RTDZ”) and associated structures and are developing an understanding of the geochemical footprint of alteration hosted by the RTDZ. The new magnetic data and magnetic inversion modelling indicates that the RTDZ on the property is a major, deep-seated structure. Gold in till and pathfinder geochemistry in the till fine fraction is pointing towards sources (targets) on and related to the RTDZ. Further, gold analyses of the till fine fraction are indicating significant gold concentrations in the till believed sourced from the RTDZ and related structures. The new IP surveys have resulted in several anomalies to be prioritized and tested. The path to discovery is beneath our feet.” Drilling Results Overview: A total of 1,270m of the phase 1 drilling program was completed between April and June this year including testing one IP hole within the Ridout Tyrrell Deformation Zone (“RTDZ”) which intersected anomalous gold and multi-element pathfinder elements in a significant 86m thick fault zone containing intensely deformed fault breccia within a mylonitic matrix from 34m depth. The five other holes tested the Caswell Shaft 2 and Vein 109 areas. All encountered gold mineralization with gold values up to 6.4g/t/0.5m in Hole WP21-12. Vein 109, which historically has been mapped and exposed for a 200m strike length was drill tested by three drill holes. The Company has been acquiring new data over the past 12 months covering the property including the 3D magnetic inversion, synoptic geology study, LIDAR, gold in till and an IP s...