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Platina Resources Limited (ASX:PGM)

ALERT: Price-sensitive ASX Announcement for PGM
Current share price for PGM : $0.023 0.005 (27.78%)+
Announcement
Release
26 Jun 2026 9:10AM
Price at Release
$0.018
Full Release
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Summary
Platina Resources Limited has concluded the acquisition of the Sunrise Bore Project through the acquisition of Bravo Minerals Pty Ltd. This project is located in a promising gold exploration corridor in the Eastern Goldfields region of Western Australia. As part of the acquisition, Platina issued shares and provided a cash payment while granting a royalty. They plan to start a drilling program targeting historical gold mineralization, which could significantly enhance their Laverton exploration portfolio. The initial drilling phase aims to extend known mineral deposits, marking the first modern exploration since 1998.
Key Points
  • Platina Resources Limited has completed the acquisition of the Sunrise Bore Project.
  • The acquisition was completed through the purchase of Bravo Minerals Pty Ltd.
  • Platina issued 40,625,307 shares valued at $800,000 and paid $350,000 in cash to complete this acquisition.
  • A 1% Net Smelter Return (NSR) royalty was granted as part of the acquisition terms.
  • Platina plans to commence a Phase 1 reverse circulation (RC) drilling program with 23 holes totaling approximately 2,775 meters.
  • The drilling will focus on zones of historical gold mineralization within a 1.2 km mineralized trend.
  • No modern exploration has been conducted at Sunrise Bore since 1998, presenting a significant opportunity for Platina.
  • The initial phase of drilling is expected to take approximately 14 days to complete.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.