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Platinex Provides Update on W2 Cu-Ni-PGE Project and General Corporate Matters
TORONTO, July 27, 2022 (GLOBE NEWSWIRE) -- Platinex Inc. (CSE: PTX) (Frankfurt: 9PX) ("Platinex" or the "Company") is pleased to provide an update on the W2 Cop
About this update from Ptx Metals Inc
[{"type":"text","content":" TORONTO, July 27, 2022 (GLOBE NEWSWIRE) -- Platinex Inc. (CSE: PTX) (Frankfurt: 9PX) (\"Platinex\" or the \"Company\") is pleased to provide an update on the W2 Copper-Nickel PGE (platinum group elements) project (\"W2\" or the \"W2 Project\"). The Company has recently completed go forward exploration plans at W2. As part of the planning process, historical exploration and drilling data were analyzed, including 10,000 m of drilling by Aurora Platinum and Inco Limited, and airborne geophysical surveys by Aurora Platinum and Temex Resources. The Company has confirmed numerous drill targets, including step-outs within known areas of mineralization and new exploration targets in areas with no previous drilling. Dr. James Mungall, P. Geo., and Ike Osmani, P. Geo., advised management. Exploration plans at W2 include: Infill drilling to establish the continuity of the historically-defined 7.5 km long widely-spaced Cu-Ni-PGE mineralization corridor in the central part of the western W2 land package. This program will include petrographic and preliminary bench-scale metallurgical studies on the disseminated sulfide mineralization; Drill testing several high conductance-high magnetic susceptibility geophysical anomalies identified in a 2008 VTEM survey over the eastern portion of W2; Carrying out a ground gravity survey over the ultramafic intrusion to detect potential chromite mineralization in the northeast part of the western W2 claims; Conducting petrographic and or preliminary bench-scale metallurgical studies to justify additional drilling along strike of the Fe-Ti-V mineralization in the northwestern part of the W2 claims. At the centre of the property, a program of systematic step-out drilling will enable the Company to determine the continuity of mineralization and potentially expand historical resources as per the standards of NI 43-101. Currently, at least seven zones of significant Cu-Ni-PGE mineralization have been identified at wide spacing. For example, drill holes LH-01-05 and LH-01-06, which are located 4 km apart with no intervening drill holes, contain both wide sections of lower grade Copper Nickel Palladium Platinum mineralization and narrow sections of higher grade Cu-Ni-Pt-Pd mineralization. The historical drilling suggests a high level of continuity in the Cu-Ni-PGE mineralization. Maxwell plate modelling of geoph...