Winter Drilling Planned for Platinex’s New W2 project

Winter Drilling Planned for Platinex’s New W2

Platinex (CSE:PTX) is getting ready to commence drilling at its newly acquired W2 project (formerly Lansdowne House), located near the Ring of Fire in Ontario, Canada.

Platinex CEO Greg Ferron said the company is looking to begin drilling at W2 this winter, as the permitting process gets underway.

“The key thing we’re doing right now is meeting with the local First Nations communities, getting to know them as we’re new in the community,” he told the Investing News Network.

In January, Platinex acquired 100 percent of the W2 project, which covers a land package of more than 9,100 hectares and includes a 5 kilometer strike length of known copper, nickel and platinum-group elements mineralization.

Once drilling gets underway, and permits and relationships with the local communities are in place, Ferron believes that’s where the company will “add a lot of shareholder value.”

Platinex is also continuing to consolidate and grow its Shining Tree gold project in the southwest portion of the Abitibi greenstone belt in Northern Ontario, Canada’s largest gold-producing region.

“We have two crews on the ground now, and they’re just looking at the new areas of the project — low-cost work in light of the market conditions,” Ferron said. “At the same time, in-house we’re looking at modeling the former-producing mine, the historical resources and the drilling that Platinex has done, and just coming up with the best strategy on where to drill that project next.”

The Platinex chief executive believes that once the market settles down and people begin to put money back into energy and metals, supply security and stability will be a key factor.

“(Investors are) going to be looking for safe jurisdictions, like Canada and Australia, to ensure big global economies, like China or the US and Europe, have steady supplies in their backyard or with reliable partners,” Ferron said.

Watch the full interview of Platinex CEO Greg Ferron above.

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