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Platina Resources to assess platinum and copper potential at scandium project

A large platinum resource has been established at the Sunrise project, which is 5 kilometres to the south of PSP.

Platina Resources Ltd - Platina Resources to assess platinum and copper potential at scandium project
PSP has potential to be a scandium producer with cobalt, platinum, nickel and copper credits

Platina Resources Limited (ASX:PGM) will assess the potential of Platinum and copper to add value to its Platina Scandium Project (PSP) in Central West New South Wales.

This follows the unveiling of a large platinum resource at Clean TeQ Holdings Limited (ASX:CLQ) Sunrise Project, which is around five kilometres south of PSP.

The Fifield district, which hosts the PSP and Sunrise projects, is well known for its platinum prospectivity.

PSP was originally discovered and explored in the 1960s for its platinum potential before its rich scandium potential was realised in 2016.

Platinum potential of district

Platina managing director Corey Nolan said while the PSP hosted one of the world’s highest-grade scandium deposits, historical intersections of platinum were of significant enough grade to warrant a closer look.

He said: “Whilst the shallower laterite system is the host of a platinum JORC mineral resource, there are a number of historical bedrock platinum intersections of economic grade including five intersections higher than 10 grams per tonne. 

“Additionally, the potential of the Fifield district has been reinforced by Clean TeQ’s announcement highlighting the platinum potential.”

Geological study

PSP is one of the world’s largest and highest-grade scandium deposits and has the potential to become Australia’s first scandium producer with cobalt, platinum and nickel credits.

Mineralisation within the PSP is hosted within a laterite profile that extends from the surface down to between 20 metres and 30 metres vertical depth.

Nolan said: “Our low-cost geological study will assess the merit of undertaking further exploration activities including surface sampling, geophysics and drilling.”

Some of the historical drilling intersected economic target grades of platinum extending beneath the laterite profile and within narrow bedrock structures up to 180 metres below the surface.

Highlights include:

  • 4 metres at 17g/t platinum from 20 metres;
  • 4 metres at 7.1 g/t from 12 metres; 
  • 3 metres at 8.3 g/t from 32 metres; and
  • 3 metres at 4.1 g/t from 47metres.

Copper potential

There are also several isolated high copper occurrences in bedrock, including 3 metres at 1.6% copper from 77 metres and 3 metres at 4.9% copper from 63 metres.

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