Platinex Receives Additional Encouraging Till Results
TORONTO, ONTARIO -- (Marketwire) -- 07/18/11 -- Platinex Inc. (TSX VENTURE: PTX), is pleased to report the results of gold grain counts from 111 till samples substantiating the widespread gold in till glacial dispersion train on the Shining Tree property. Forty eight samples returned gold grain counts of 10 or more and fourteen samples returned gold grain counts greater than 25. Heavy metal concentrates from the samples contained up to 64.4 g/tonne gold. The fine fraction of the samples will be analysed for pathfinder elements and all priority sample locations are currently being targeted with detailed lodgement till and bedrock chip sampling. This will define the ensuing trenching, stripping and channel sampling phase this summer.
James R. Trusler, President & CEO stated that, 'We are now homing in on the main sources of gold in till, and are taking steps to assess our priority targets quickly.'
About Platinex Inc.
Platinex has recently uncovered strong indications of a major gold bearing zone on its Shining Tree property as evidenced by high gold content of soil samples along a nine km corridor. Platinex continues to expand the Herrick gold deposit with 66 holes drilled to date returning encouraging gold values. Platinex's management team continues to lead in the exploration and development of Platinum Group Elements (PGE's) in North America. Shares of Platinex are listed for trading on the TSX Venture Exchange under the symbol 'PTX'.
This release has been prepared and authorized by James R. Trusler who is the qualified person.
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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 and CEO
(905) 258-0517
jtrusler@platinex.com
www.platinex.com
Investor Cubed Inc:
Alan Huycke
(647) 258-3311, (888) 258-3323
(416) 363-7977 (FAX)
info@investor3.ca