Platinex Reports Drilling Results on Herrick Deposit on Shining Tree Property
23 Mayo 2011 - 8:00AM
Marketwired
Platinex Inc. (TSX VENTURE: PTX), is pleased to announce today that
the two holes drilled to test the downward continuation of the
mineralization beneath the mine workings and the shaft returned a
best gold value of 12.55 g/t Au over 0.85 metres.
Hole HP11-65 intersected the Central Zone from a core interval
of 191.80m to 194.90m with a composite average of 4.99g/t Au/3.1m
including a section assaying 12.55g/t Au/0.85m. Typical of other
holes such as HP10-44, hole HP11-65 is hosted in a much thicker
mineralized alteration zone which has a composite average of
1.47g/t Au/12.2m which appears to be a discrete, thicker zone that
may continue to depth.
Hole HP11-64 intersected the Central Zone between 302.15m and
306.0m with a composite average of 2.29g/t Au/3.85m including
2.86g/t Au/2.95m and 6.94g/t Au/0.85m. This intersection also
occurs within a 90 m core length of mineralized alteration
zone.
A third hole was drilled to test the south strike extension,
approximately 25 metres south of the limit of the Herrick deposit.
Hole HP11-66 intersected the Central Zone at between 47.4 and 49.4
metres, with a 0.60m section assaying 1.785 g/t Au.
Mr. James R. Trusler, President and CEO of Platinex stated, "We
continue to be encouraged by the continuity of mineralization in
the Herrick deposit. The drilling to date provides evidence of a
richer and thicker core to the deposit which plunges steeply to the
south underneath the workings. We believe the wider zones of
alteration and gold values in holes 9, 33, 44 and 65 indicate a key
plungeline for strong gold mineralization and this provides an
excellent target for the next drill campaign."
Follow up till sampling (approximately doubling the current
total of till samples), prospecting, geological mapping and power
stripping is now proceeding to locate the sources of multiple, high
gold in till results on the property. It is anticipated that the
source of the gold grains is located between the Herrick and the
Caswell structures. Further drilling on newly generated targets,
the Herrick deposit, and the Caswell prospect will be initiated
later in the summer.
Diamond drilling for the current program was done under contract
by Laframboise Drilling Inc. of Earlton, Ontario. A sampling
quality control program consisted of inserting known standards and
blanks into the sample stream during the logging and sampling
process. All assaying for the current program has been completed by
ALS Minerals with a sample preparation laboratory located in
Sudbury, Ontario and assay facilities in Vancouver, BC. All results
reported in this release have quality control samples that returned
results within acceptable error and with no indication of cross
contamination of samples.
Core logging took place within rented facilities in Shining
Tree. Core to be sampled was marked and tagged by the project
geologist and cut or split by Canadian Exploration Services or at
the Shining Tree facilities. Delivery to ALS Minerals for sample
preparation and analysis was done either by Canadian Exploration
Services or Platinex personnel. The samples were analyzed for gold
using standard fire assay techniques.
For the purpose of this release James R. Trusler, P.Eng is
considered the qualified person.
About Platinex Inc.
Platinex has recently revealed strong evidence of a major gold
bearing zone on its Shining Tree property as evidenced by an
extraordinarily high gold content of soil samples along a nine km
long corridor. Platinex is also exploring the Herrick gold deposit
with 63 holes drilled to date returning good gold values.
Platinex's management team has been leaders in the exploration and
development of Platinum Group Elements (PGE's) in North America for
24 years. Shares of Platinex are listed for trading on the TSX
Venture Exchange under the symbol "PTX".
To receive Company press releases, please email
lparadis@platinex.com and mention "Platinex press release" on the
subject line.
FORWARD-LOOKING STATEMENTS:
Except for statements of historical fact, all statements in this
news release - including, without limitation, statements regarding
future plans and objectives, are forward-looking statements that
involve various risks and uncertainties. There can be no assurance
that such statements will prove to be accurate; actual results and
future events could differ materially from those anticipated in
such statements.
To view figure 1, please visit the following link:
http://media3.marketwire.com/docs/ptxmap523.pdf
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Platinex Inc. James R. Trusler President and CEO (905)
258-0517 jtrusler@platinex.com www.platinex.com Investor Cubed Inc:
Alan Huycke (647) 258-3311 or (888) 258-3323 (416) 363-7977 (FAX)
info@investor3.ca
Platinex Inc. (TSXV:PTX)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
Platinex Inc. (TSXV:PTX)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024