Platinex Inc. (TSX VENTURE: PTX), announced today the acquisition by staking of 363 claim units comprising approximately 5808 ha in Sandy, Crockett, Chewitt, Hellyer, Carty, Pinogami and Ivanhoe Townships near Chapleau in northern Ontario.
The claim blocks were staked to cover a newly recognized gold host environment on strike with the Borden Lake gold discovery of Probe Mines. The rocks hosting the Borden Lake deposit have been mapped as metasedimentary and metavolcanic gneisses of Temiskaming age. This age is compatible with ages of gold host rocks in the major gold camps of the Abitibi region of Ontario and Quebec.
The staking also coincides with areas previously explored by a predecessor company of Teck Resources which conducted geophysical surveys and drilling in the 1960's. Disseminated copper mineralization was found in several holes and no gold assays were reported.
The claim blocks are 100% held by Platinex and are collectively dubbed the Ivanhoe Gold project. Planning is underway to conduct initial exploration on the project this summer.
For the purpose of this release James R. Trusler, P.Eng is considered the qualified person.