Platinex Announces New Gold Property Acquisition
TORONTO, ONTARIO -- (Marketwire) -- 03/30/11 -- Platinex Inc. (TSX VENTURE: PTX), announced today the acquisition by staking of 363 claim units comprising approximately 5808 ha in Sandy, Crockett, Chewitt, Hellyer, Carty, Pinogami and Ivanhoe Townships near Chapleau in northern Ontario.
The claim blocks were staked to cover a newly recognized gold host environment on strike with the Borden Lake gold discovery of Probe Mines. The rocks hosting the Borden Lake deposit have been mapped as metasedimentary and metavolcanic gneisses of Temiskaming age. This age is compatible with ages of gold host rocks in the major gold camps of the Abitibi region of Ontario and Quebec.
The staking also coincides with areas previously explored by a predecessor company of Teck Resources which conducted geophysical surveys and drilling in the 1960's. Disseminated copper mineralization was found in several holes and no gold assays were reported.
The claim blocks are 100% held by Platinex and are collectively dubbed the Ivanhoe Gold project. Planning is underway to conduct initial exploration on the project this summer.
For the purpose of this release James R. Trusler, P.Eng is considered the qualified person.
About Platinex Inc.
Platinex is a well financed Toronto based exploration company. Platinex's management team has been leaders in the exploration and development of Platinum Group Elements (PGE's) in North America for 24 years. Platinex is also exploring the Shining Tree gold property and recently expanded the known size of the Herrick gold deposit with a 48 hole drill program returning good gold values. In addition Platinex recently announced the discovery of extremely high gold grain counts in glacial soils at the bedrock surface coinciding with a nine kilometre length of a previously unexplored major shear zone on the property. Shares of Platinex are listed for trading on the TSX Venture Exchange under the symbol 'PTX'.
For the purpose of this release James R. Trusler, P.Eng is considered the qualified person.
FORWARD-LOOKING STATEMENTS:
Except for statements of historical fact, all statements in this news release - including, without limitation, statements regarding future plans and objectives, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Platinex Inc.
James R. Trusler
President & C.E.O.
(905) 470-6400 ext. 8007
jtrusler@platinex.com
www.platinex.com
Investor Cubed Inc.
Alan Huycke
(647) 258-3311 / (888) 258-3323
(416) 363-7977 (FAX)
info@investor3.ca