Platinex Reveals More Encouraging Till Results
TORONTO, ONTARIO -- (Marketwire) -- 09/26/11 -- Platinex Inc. (TSX VENTURE: PTX), is pleased to report the progress of the till and rock sampling program underway in Shining Tree, Ontario. As a follow up to the encouraging 2008-2011 basal till sampling program, target areas are being sampled in detail towards the interpreted source utilizing the fine fraction of tills analyzed for gold and trace elements. The basal till at the bedrock interface which is indicative of nearby source material is now being collected using a powered mini-excavator. Bedrock chips are also collected at the same locations, logged and assayed. To date over 9km of lines sampled at 25-50m intervals incorporating over 152 sample points have been completed. An additional 125 sample points are targeted for completion by the end of September. See link below. Preliminary analysis of the first 43 samples has indicated 2 gold in till dispersion targets with values of 0.37 and 0.40 g/t Au measured from the fine fraction of the basal till. A third locally anomalous gold target correlates with local silver, copper, nickel and cobalt anomalies as determined by multi-element analysis. Bedrock chips sampled returned up to 0.48g/t Au. Till samples from each site are being stored for later gold grain counts as done in previous campaigns.
'We are happy with the continuing encouragement from the till samples because this provides further evidence that our Shining Tree property hosts a substantial gold resource and points us to excellent targets for future drilling. The use of an excavator for sampling and direct assaying of the till fine fractions will enable Platinex to locate gold sources more quickly.' says James R. Trusler, President and CEO of Platinex Inc.
To view the Shining Tree Project map, please visit the following link:
http://media3.marketwire.com/docs/ptxmap926.pdf
Mineral Mountain Resources Ltd., which company's holdings border the Platinex Shining Tree property to the north and east has recently revealed extensive gold dispersal trains in till sampling.
For the purpose of this release Scott Franko, P.Geo is considered the qualified person.
About Platinex Inc.
Platinex has recently revealed strong evidence of a major gold bearing zone on its Shining Tree property as evidenced by an extraordinarily high gold content of soil samples along a nine km long corridor. Platinex is also exploring the Herrick gold deposit with 66 holes drilled to date returning encouraging gold values. Platinex's management team has been leaders in the exploration and development of Platinum Group Elements (PGE's) in North America for 24 years. Shares of Platinex are listed for trading on the TSX Venture Exchange under the symbol 'PTX'.
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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 or (888) 258-3323
(416) 363-7977 (FAX)
info@investor3.ca