CSE-listed Platinex has signed a binding letter of intent to possibility a 100% possession curiosity within the Muskrat Dam essential minerals mission, in north-western Ontario.
The mission, situated about 125 km northeast of Frontier Lithium’s PAK lithium mission and 125 km northwest of Newmont’s Musselwhite gold mine, includes six property blocks, which collectively cowl 10 950 ha within the Muskrat Dam Lake and Rottenfish greenstone belts.
The mission consists of the Axe Lake property, which exhibits potential to host lithium-bearing pegmatites. It additionally comprises compelling copper/nickel/platinum group components/gold and chromite targets.
Inco, Canadian Occidental, and different operators carried out historic exploration within the space through the Seventies and Eighties. Nevertheless, the belt has seen little fashionable exploration, offering a superb alternative to make potential discoveries.
The acquisition positions Platinex as a big participant on this new space of curiosity as essential mineral exploration exercise will increase in Ontario. It additionally enhances the Firm’s extra superior W2 copper/nickel/platinum group components mission, which controls the Lansdowne Home Igneous Advanced, a outstanding function of the Oxford Stull Dome close to Ontario’s Ring of Fireplace.