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Platina Resources gets a speeding ticket for 26% share price increase

The company recently drilled high-grade zinc, gold and silver from its flagship Blue Moon project in California.

Platina Resources Ltd - Platina Resources gets a speeding ticket for 26% share price increase
The drilling is aimed at delivering a JORC-compliant resource

Platina Resources Limited (ASX:PGM) received an ASX speeding ticket today following a rise in the price of its shares from 2.3 cents to 2.9 cents intra-day.

The ASX also noted the significant increase in the volume of Platina’s securities traded from February 20 to February 24.

Responding to the ASX price and volume query, the company said that there was no information that had not been announced to the market which, if known by some in the market, could explain the recent trading in its securities.

Blue Moon drilling

Platina recently 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.

Quick facts: Platina Resources Ltd

Price: 0.012 AUD

ASX:PGM
Market: ASX
Market Cap: $3.92 m
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