Platinex Inc is a company specialized in the acquisition and exploration through discovery of major precious metal deposits. Platinex’s focus is the Shining Tree gold property in the Abitibi gold province of Ontario, which is world-renowned for gold. The company also has royalties on gold, PGE and base metal properties in Canada and Chile.
Platinex has acquired, through option agreements and staking, a district scale gold property in Shining Tree comprising 21,720 ha (53,671 ac.), making it the largest gold prospect in the Shining Tree area.
The southwestern Abitibi has experienced a transformation in the last ten years with the discovery and now development of several multi-million-ounce gold deposits, mainly along the Ridout-Tyrrell deformation zone. Shining Tree has the potential to host one or more Tier 1 gold deposits and since consolidating we are now de-risking the project to attract major investors.
The property is located along 21 km of the Ridout-Tyrrell deformation zone. This major deformation zone trends as far west as Borden Lake, through the area of IAMGOLD’s Cote Gold deposit, directly through the Platinex Shining Tree Property and on to Aris Gold’s gold project which includes the Juby deposit. At the heart of this deformation zone is a cluster of old, practically forgotten gold mines and prospects developed as segmented properties 80-100 years ago. Many of these sites reported high gold grades in veins. Platinex has assembled twenty of these formerly-segmented properties into one large property for the first time.
Platinex is now using modern exploration techniques to re-evaluate many of these known deposits and explore the newly interpreted extent of the Ridout-Tyrrell deformation zone. Initial work in the area includes the collection of over 600 samples of glacial till which upon examination under a microscope by an independent lab has revealed potentially the largest gold in till anomaly in Ontario. Priorities will include the evaluation of known gold prospects to outline near surface resources and to pursue exploration for Tier 1 deposits along the unexplored Ridout-Tyrrell Deformation Zone.