TORONTO, Nov. 26, 2020 (GLOBE NEWSWIRE) — Platinex Inc. (CSE: PTX) (Frankfurt 9PX) (the “Firm” or “Platinex“) is offering an replace on the energetic exploration program of the Caswell prospect and extra work in progress on the Shining Tree property within the Abitibi greenstone belt of Northern Ontario, (see press releases of September 16, 2020, October 7, 2020 and October 27, 2020). The Shining Tree property is the most important holding within the Shining Tree gold district at 20,750 hectares (51,274 acres) located alongside the Ridout-Tyrrell pattern between the Juby deposit owned by Caldas Gold to the east and the mine development-stage Cote Gold deposit to the west owned by IAMGOLD.

Present Exploration Program

The Caswell prospect, which is one among twenty one recognized mineralized areas on the Shining Tree property, hosts a 700 m extensive east-west hall of shear zones and quartz veining is the present focus of exploration. (See new video protection titled – Energetic Exploration Program at Caswell) A mechanical stripping and channel sampling program has been accomplished on the property this autumn adopted by structural mapping to additional assess the extent and character of the gold mineralization. With gentle climate this yr’s program was prolonged to show extra areas and allow assortment of 569 channel samples. Samples might be analyzed for gold, a number of parts, and plotted on structural maps to evaluate the energy and continuity of the gold in veins, enclosing shear zones and alteration halos. Upon analysis assays acquired might be reported in context. The first objective at Caswell is to offer enough knowledge to make an preliminary evaluation of the potential to find a close to floor gold useful resource and this massive channel sampling program is a key step on this course of.

On account of the prolonged discipline season, the collaboration with Transition Metals, the addition of drone protection, and optimistic indications of chargeable materials in downhole DGI checks, it has been determined to conduct a winter IP program over each the east and west parts of Caswell to offer extra focusing on data for an expanded drill program this winter.

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Exploration efforts and extra planning proceed alongside the underexplored 21 kilometres of the Ridout-Tyrrell deformation zone and related syenite intrusives positioned on the centre of the property and persevering with to the western property boundary. This main deformation zone traits as far west as Borden Lake, by means of the world of the Cote Gold deposit, instantly by means of the Platinex Shining Tree property and on to the Juby deposit. A synthesis of earlier airborne magnetometer surveys is presently being carried out to boost knowledge density to enhance geological interpretations on the bottom. A LIDAR survey might be carried out within the Spring and an expanded until sampling program is presently underway.

James R. Trusler, Chairman and CEO of Platinex said, “The Caswell Prospect is located on the east aspect of a three km diameter circle of gold deposits and former producers the place the Ridout-Tyrrell deformation zone intersects the most important north-south trending Michiwakenda fault. The expanded sampling program on Caswell will yield each a view of subsequent steps on Caswell, but additionally an even bigger image view throughout the cluster of gold prospects which have by no means earlier than been evaluated collectively.

The unexplored 21 km size of the Ridout Tyrrell deformation zone stays each excessive potential and excessive precedence goal on which Platinex intends to progressively discover over the following two to a few years. The gold in until work that has been carried out this yr might give an early indication at gold sources within the floor. If that’s the case, Platinex is ready to step up exploration on these websites.”

The knowledge offered on this information launch has been reviewed and authorized by James R. Trusler, P.Eng., Chairman and CEO of the Firm and the Certified Particular person for exploration on the Shining Tree property, as outlined by Nationwide Instrument 43-101 ‘Requirements for Disclosure for Mineral Initiatives’.

See the brand new video protection titled – “Energetic Exploration Program at Caswell”

Lori Paradis, Assistant Secretary

Tel: (416) 268-2682

Electronic mail: lparadis@platinex.com

Internet: www.platinex.com

About Platinex Inc. – Advancing a District Scale Challenge in an Abitibi Gold Camp

Platinex is focusing its efforts on the exploration of its property within the Shining Tree District. Platinex has created the most important mixed gold targeted property bundle within the Shining Tree District, northern Ontario , which has acquired little trendy exploration in comparison with different gold camps within the Abitibi Greenstone Belt.. Shares of Platinex are listed for buying and selling on the Canadian Securities Alternate underneath the image “PTX”.

To obtain Firm press releases, please e mail lparadis@platinex.com and point out “Platinex press launch” on the topic line.

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