Platinex Identifies Six Additional Gold Dispersion Targets at Shining Tree, Ontario
27 Octubre 2011 - 9:03AM
Marketwired
Platinex Inc. (TSX VENTURE:PTX), is pleased to report further
progress of the till sampling program underway in Shining Tree,
Ontario. Recent assays measured from the fine fraction of the basal
till defined 6 additional gold in till dispersion targets with
values up to 0.42 g/t Au.
Platinex President & CEO Jim Trusler states, "We have been
driven by the opportunity to locate and identify the sources of the
exciting gold grain counts in till this year. The evident spatial
correlation of two very large anomalous gold in till trains with
known geological structures and geophysical anomalies indicates
that Platinex is on track to fulfilling this objective" (See
Platinex release Oct. 18, 2011).
As a follow up to the encouraging 2008-2011 basal till sampling
program, the sample collection and handling procedure was modified.
Since July 1, 2011 over14km of lines sampled at 25-50m intervals
incorporating 251 sample points have been completed using a powered
mini- excavator. A small split of each basal till sample was sieved
to minus 100 mesh and assayed by SGS Laboratories in Don Mills,
Ontario by Fire Assay (FAI313). Bedrock chips collected at the same
locations have been logged and assayed where warranted.
In addition 21 bulk basal till samples from the current program
sent to Overburden Drilling Management (ODM) in Ottawa for gold
grain counts returned encouraging results. (See Platinex release
Oct 18 2011)In total 512 till samples have now been collected on
the Shining Tree property to trace sources of anomalous gold grain
counts in till. Sixty more high priority samples are targeted for
collection by month end to be sent to ODM for priority gold grain
counts.
Follow up work including outcrop stripping is planned for the
remainder of October to define viable drilling targets. All samples
have been collected and processed for assay under the supervision
Scott Franko, P.Geo who is considered the qualified person for the
purpose of this release.
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 66 holes drilled to date returning encouraging gold values.
Platinex's management team is a leader in the exploration and
development of Platinum Group Elements (PGE's) in North America for
24 years now. Shares of Platinex are listed for trading on the TSX
Venture Exchange under the symbol "PTX".
To receive Company press releases, please email
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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.
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)
258-0517jtrusler@platinex.comwww.platinex.com Investor Cubed Inc:
Alan Huycke (647) 258-3311 or (888) 258-3323 (416) 363-7977
(FAX)info@investor3.ca
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