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Platina Resources drills broad, high-grade zinc, gold and silver at Blue Moon

Assays from the second diamond hole BMZ80 revealed grades of up to 14.55 g/t of gold and 513 g/t of silver.

Platina Resources Ltd - Platina Resources drills broad, high-grade zinc, gold and silver at Blue Moon
This drilling program has produced the highest grades yet from the deposit

Platina Resources Ltd (ASX:PGM) has received assay results for its second hole BMZ80 drilled at its flagship Blue Moon Zinc-Copper-Gold Project in California.

BMZ80 was drilled 50 metres north of the initial BMZ79 hole and has confirmed a wide, high-grade zinc, gold and silver mineralised zone in the northern edge of the main mineralised horizon.

The hole intersected three significant intervals:

  • 19.58 metres at 8.41% zinc, 0.49% copper, 1.22 g/t gold and 82.75 g/t silver from 398.44 metres;
  • 6.15 metres at 3.60% zinc, 0.19% copper, 1.97 g/t gold and 78.6 g/t silver from 424.54 metres; and
  • 3.53 metres at 4.27% zinc, 0.37 % copper, 2.4% lead, 3.76 g/t gold and 126 g/t silver from 448.9 metres.

Notably, the deeper intersection from 450 metres represents a northern extension of the western mineralised horizon.

Deposit more than a significant zinc resource

Platina managing director Corey Nolan said: “We now have greater confidence that the deposit not only contains a significant zinc resource but with intervals containing up to 14.55 g/t of gold and 513 g/t of silver, the results indicate stronger potential for the production of precious metal by-products.”

“Our recent drilling program has encountered the highest grades ever drilled in the deposit and thus provides scope to expand the mineral resource at higher grades.”

Drilling aims to deliver a JORC-compliant resource and gather drill core for metallurgical test work ahead of a pre-feasibility study to be delivered this year.

Blue Moon has an existing resource estimate

The project has an existing NI 43-101 resource estimate of 7.79 million tonnes for 4.95% zinc, 0.46% copper, 0.29% lead, 0.04 g/t gold and 1.33 g/t silver or 8.07% zinc equivalent.

This results in 771.2 million pounds of zinc, 71.7 million pounds of copper, 45.2 million pounds of lead, 0.3 million ounces of gold, and 10.4 million ounces of silver.

This was compiled from historical drilling of around 113 holes for 43,000 metres.

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