Plana Resources Limited's (ASX: PGM) has increased confidence in the value of its part-owned Munni Munni Project in Western Australia aer significant grades of palladium were returned in recent drilling by its partner Artemis Resources Limited.
Plana Managing Director Mr Corey Nolan said drill results reported today in an ASX release by Artemis 1 confirm the project's potenal to host of one of Australia's largest undeveloped palladium deposits and endowments of planum, gold and rhodium.
'Amid significant increases in the price of palladium, gold and rhodium during 2021, the posive drill results have enhanced the number of opons available to create value from the project,' Mr Nolan said. 'A formal joint venture has now also been executed with Artemis and we are now working very construcvely to idenfy how we best extract the most value from the project for our shareholders without losing focus on our respecve core assets'.
'A sale or spin-off could be considered as the project has reached the development scale where it requires dedicated funding and technical management to drive it forward given the scale of the project footprint' he said.The Munni Munni Reverse Circulaon (RC) drilling program comprised 15 drill holes for 2,740 metres spread through the enre upper poron of the mineralisaon, to a maximum depth of 250 metres:
Plana controls a 30% interest in the Munni Munni Project while partner Artemis controls the remaining 70% and is operator.
This announcement was authorised by Mr Corey Nolan, Managing Director of Plana Resources Limited.
Contact:
Corey Nolan Gareth Quinn
Tel: +61 (0)7 5580 9094
Email: admin@planaresources.com.au
ABOUT PLATINA RESOURCES
Plana is an Australian-based company focused on returning shareholder value by advancing early-stage metals projects through exploraon, feasibility, perming and into development.
The company has interests in the following projects: Xanadu Gold Project (100% interest) - located in the Ashburton Basin in Western Australia in close proximity to the Mt Olympus gold project; Challa Gold Project (100% interest) located in-between the prolific Mt Magnet and Sandstone gold districts in Western Australia, 500km north-east of Perth.
Plana Scandium Project (100%) - located in central New South Wales, the project is one of the largest and highest-grade scandium deposits in the world, which has the potenal to become Australia's first scandium producer with cobalt, planum and nickel credits.
Munni Munni (30% interest) - Situated in the Pilbara region of Western Australia, the project is one of Australia's most significant Planum Group Metal occurrences. Munni Munni also has potenal for conglomerate hosted gold and is a joint venture with Artemis Resources Limited.
Investment in Blue Moon Zinc Corporaon (6 million shares in TSXV listed MOON) - the Blue Moon Zinc Project has a NI43-101 resource which is open at depth and along strike and has favorable metallurgy.
Investment in Major Precious Metals (49 million shares in CSE listed SIZE) - Major is a Canadian junior mining and exploraon company whose flagship Skaergaard Project hosts one of the world's largest undeveloped gold deposits and one of the largest palladium resources outside of South Africa and Russia.
PLATINA RESOURCES LIMITED 