2 minute read
What’s coming up next for Platinex
Platinex has recently undergone some changes, and it has plans to become bigger and better than ever.
When current Platinex CeO and director Greg Ferron was the CeO of Treasury Metals, he had sold Platinex a project in Timmins, which was adjacent to their shining Tree Project, and the Aris Gold’s Juby deposit south of Timmins. As a result, Platinex became the largest shareholder, and Ferron joined their board of directors.
“When i left Treasury Metals, i continued on the board and the founder – a well-known geologist with 55 years of experience in the industry – decided to retire, i became CeO,” Ferron explains.
Over the past couple of years, Platinex has acquired a new coppernickel project in the Ring of Fire to capitalize the company, closing financing at $2 million. The company has an all-new board, new technical committee, and a new management team. The company assembled a new technical committee of copper-nickel experts, which is a great complement to the existing technical team members, including founder Jim Trusler.
“Our strategy is to acquire districtscale, large-size properties in prolific mining camps,” Ferron says.
Platinex currently has two projects: the shining Tree Project, located in the southern portion of the Abitibi gold belt between the Cote Gold Deposit and Young Davidson mine. Their gold project is 225 square kilometres. The W2 project, which is their copper-nickel project, is a similar-looking deposit as the Wyloo’s eagle Nest, albeit with low grades.
Regarding the shining Tree Project, Ferron says he has been consolidating the camp with three acquisitions for the past couple of years and is presently doing a lot of early-stage work on the new ground. it had been a pastproducing project with small-scale production, but now people are looking for larger resources. After they bought the mine from Alamos Gold, they are presently modelling the past production and 62 holes drilled by Platinex in the Herrick camp to develop a drilling plan. They plan to look at drilling new targets they’ve identified across the project and drill both new targets in the historical production area.
“earlier in the year, we ended up buying a district-scale project in the Ring of Fire; $10 million was spent on the project, including work by iNCO, Aurora Platinum, and FNX,” Ferron says, adding the project includes 200 metres of low-grade copper-nickel, including highergrade sections of copper-nickel and a second wide zone of coppernickel cobalt platinum-palladium. “We are making good progress with permitting and working on a longterm basis with local communities to ensure the region benefits from the developments in the camp.”
Ferron adds that he thinks people are starting to realize the importance of electrification and that it is another diversification of energy. oil and gas-powered cars, the grid will be more in demand to power these batteries,” Ferron says. “They are going to need a lot of copper and nickel and also diversified energy sources to power the grid. Materials and energy are going to be great areas to be invested, and they’ll see that over the next five to 10 years, especially those located in safe jurisdictions like Canada.”
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