Platinex Inc. announced the commencement of a diamond drilling program on the Heenan Property, part of the Heenan Mallard Gold Project, which is a property held through the South Timmins Mining Joint Venture (?South Timmins JV?) with Fancamp Exploration Limited. The program will consist of five drill holes for a maximum total of 950 meters following up on the greenfield gold discovery announced on November 9, 2023, that was generated through B-horizon soil geochemical surveys, prospecting, and a mechanized stripping/channel sampling program. The Heenan Property lies within the Swayze area of the Abitibi Greenstone Belt in Northwestern Ontario.

The Property is located on the fold nose of the Woman River magnetic high indicating a structural target favourable for gold which formed the basis for the exploration program. The Heenan Mallard Gold Project is located immediately adjacent to Northern Superior?s October Gold Property, which was recently optioned by Evolution Mining Ltd. and is also northwest of IAMGOLD Corp.?s Côté Gold Project. The drill holes will target mineralization identified in Trench 1 and Trench 2 as well as test several high-priority Spectral IP anomalies that coincide with a northwest-orientated structure known as the Mallard Shear Zone.

The Mallard Shear Zone is a regional structure with associated gold mineralization along it and it has been interpreted as a splay structure off of the main Ridout Deformation Zone. This structure could provide conduits for hydrothermal fluids to deposit gold mineralization along favourable horizons within the Archean stratigraphy. Recent work by Platinex discovered gold mineralization associated with narrow concordant felsic to intermediate dykes and iron formation within the metavolcanic sequence.

In Trench 2, strong silicification and sulphide mineralization within a felsic to intermediate dyke at the contact with iron formation returned a composite weighted average of 4.05 g/t Au over 2.00 m, with 2.39 g/t Au over 8.00 m being returned from the adjacent iron formation.