Widespread Gold Mineralization In Maiden Drill Program At Heenan

Widespread Gold Mineralization In Maiden Drill Program At Heenan

TORONTO – Platinex Inc. reported on the first phase of diamond drilling on the Heenan Property, part of the Heenan Mallard Gold Project located in the Swayze Greenstone Belt of the Abitibi northeastern Ontario and held through the South Timmins Mining Joint Venture with Fancamp Exploration Ltd.

The program totalled 611.50 m with three drill holes completed over 50 m spacing and one undercut hole. Several consistent wide zones of gold mineralization intersected from surface to 177m including: 77.44 m of 0.40 g/t Au in hole HE23-02, and 27.15 m of 0.55 g/t Au in hole HE-23-03 with higher-grade intercepts within. An additional zone of mineralization, outside of the iron formation, was encountered in hole 2 grading 5.53 g/t over 1.00 m at 177 m.

The drill program is the first drill program completed on the project and was focused on results obtained from past geochemical and prospecting programs, including those from the mechanized stripping program completed in Q4 20231 that discovered gold occurrences in two channel sample composites including 4.05 g/t Au over 2.00 m, and 2.39 g/t Au over 8.00 m in Trench 2. Gold mineralization is hosted mainly within the Woman River Iron Formation and is associated with pyrite mineralization, alteration, and minor quartz veining.

“We are encouraged with the results of the maiden drill program at Heenan which was not only completed successfully but also on budget, said Greg Ferron, President and CEO. “The distribution of gold mineralization is widespread and intersected gold in all four holes across a 100-metre strike length, demonstrating the potential of this emerging gold project.”