Platina Resources Uncovers 1km Gold Corridor at Mt McKenna

Platina Resources Mt McKenna Gold Drilling Results in Western Australia

Platina Resources (ASX: PGM) has reported a new gold corridor at its Mt McKenna Gold Project in Western Australia's Laverton Gold District, with recent aircore drilling defining more than 1 kilometre of strike at the Granite Well East prospect. The update covers 220 aircore holes for 10,809 metres drilled across two 2026 campaigns, with several gold hits ending at or near the bottom of hole, indicating the system may continue deeper.

For investors following early-stage ASX gold exploration, the latest Mt McKenna results matter for two reasons. First, the company is reporting both high-grade shallow intercepts and broad mineralised trends across multiple target areas. Second, the next phase of drilling is already being prepared, with reverse circulation drilling planned to test whether these aircore results extend into fresh rock at depth.

What Did the ASX Update Report?

According to the ASX release dated 29 June 2026, Platina completed two back-to-back aircore drilling phases at Mt McKenna:

• Phase 2: 107 holes for 4,694 metres at Target 2, covering the Black Rock and Granite Hill prospects
• Phase 3: 113 holes for 6,115 metres across Targets 3, 4 and 5, including Granite Well East and Mt McKenna East

The key reported gold intercepts included the following.

The company stated that these results support the identification of a new mineralised corridor of more than 1 kilometre strike at Granite Well East. Furthermore, at Target 2, Platina also reported a coherent north-northeast trending mineralised structure extending for more than 800 metres at the Black Rock Prospect.

"The multiple mineralised zones identified within the southern drilling area are highly encouraging and provide strong evidence for a potentially much larger gold system beneath the weathered profile," said Corey Nolan, CEO of Platina Resources.

"The presence of significant gold mineralisation at or near the bottom of several aircore holes highlights the opportunity for deeper discoveries and provides strong support for follow-up reverse circulation drilling."

Granite Well East Becomes the Main Watchpoint

The strongest fresh development in the report is at Granite Well East, where drilling across Targets 4 and 5 appears to have outlined a previously unrecognised gold trend. Two holes are central to that interpretation:

• MMKAC0239: 1m at 7.10 g/t Au from 40m, ending just 1 metre from the bottom of hole
• MMKAC0240: 4m at 1.11 g/t Au from 12m and 7m at 0.61 g/t Au from 36m, including 2m at 1.41 g/t Au from 40m, with mineralisation continuing to the bottom of the hole

According to the announcement, these holes are more than 110 metres apart and remain open at depth and along strike. Platina also noted that the mineralised position on Section C remains open for more than 500 metres to both the north and south.

That geometry matters considerably. Early-stage exploration is often less about one isolated headline intercept and more about whether multiple holes begin outlining a continuous mineralised system. In this case, Platina is reporting both spacing between mineralised holes and a broader geological corridor that remains only partly tested.

The company also referenced nearby historical anomalous drilling and noted that older vertical RAB holes to the north and south did not adequately test strike continuity of the system. That leaves room for follow-up drilling to determine whether the new corridor can be extended.

Target 2 Continues to Build in the North

While Granite Well East drew the most attention, the northern Target 2 area also added useful support to the project-wide picture. The standout result there was MMKAC0162, returning 4m at 4.69 g/t Au from 16m along an eastern mafic-granite contact, which is a rock boundary often considered prospective in gold systems because fluids can move and concentrate along these contrasts.

In addition, Platina also reported:

• MMKAC0129: 4m at 0.33 g/t Au from 28m within saprock and adjacent to a strong arsenic anomaly
• A coherent arsenic trend extending about 800 metres
• The interpreted mineralised structure remains open to the south

In the report, the company said the gold and arsenic association at Target 2 supports the view that the anomalism is linked to a primary hydrothermal system rather than only near-surface enrichment. For investors, that distinction is relevant because primary mineralisation in less-weathered rock can provide a stronger basis for deeper drilling.

Why Do Bottom-of-Hole Intercepts Matter?

One of the most important technical points in the Mt McKenna update is the repeated reference to bottom-of-hole, often shortened to BOH. A bottom-of-hole intercept means the final sampled part of a drill hole still contains mineralisation when the hole stops. In practical terms, the drilling has not fully tested the mineralised zone, and the system may continue below the depth reached by the rig.

This is especially important in aircore drilling, which is generally a shallow and cost-effective method used for early exploration. Aircore drilling is well suited to testing the weathered zone and identifying geochemical trends, but it often stops near the top of fresh rock. That is why a BOH intercept is often treated as a pointer rather than a conclusion.

It suggests that:

• the mineralised structure may continue deeper
• the current drill method may not have reached the core of the system
• a deeper drill technique, such as reverse circulation (RC) drilling, is often the next step

At Mt McKenna, several reported intersections ended at or near the bottom of hole, including MMKAC0239, MMKAC0240, MMKAC0194, MMKAC0305 and MMKAC0248. That gives Platina a clear technical reason to step into RC drilling.

A bottom-of-hole gold intercept does not confirm size or economics. It does indicate that the mineralised zone remains open below the existing drilling depth, which is why deeper follow-up drilling becomes important.

Understanding Key Geological Terms

Several geological terms in the ASX update are useful for investors to understand. However, it is worth noting these concepts are foundational to interpreting what the Mt McKenna results actually mean.

What Is an Arsenic Anomaly?

An arsenic anomaly means rock or drill samples contain elevated arsenic compared with background levels. In many gold systems, arsenic acts as a pathfinder element, which means it can help geologists identify areas where gold-bearing fluids may have moved.

At Mt McKenna, Platina reported strong arsenic values associated with some gold intersections, including up to 121 ppm arsenic in hole MMKAC0240 and up to 900 ppm arsenic in part of the Granite Well East trend. By itself, arsenic is not gold, but its presence can help define a mineralised corridor.

What Is Saprock?

Saprock is partly weathered rock found above fresh bedrock. It is deeper than surface soil and may preserve features of the original rock better than fully weathered material. When gold is found in saprock, as reported in MMKAC0129, it can suggest the mineralised system extends into the fresh rock below. That is one reason Platina is planning RC drilling.

What Is Orogenic Lode-Type Gold?

The report states that Mt McKenna is prospective for orogenic lode-type gold and intrusive-related gold. Orogenic gold deposits are a common style of deposit in the Yilgarn Craton. They are typically associated with:

• faults and shear zones
• quartz veins
• alteration minerals such as sericite, carbonate and chlorite
• structural contacts between different rock types

This deposit style is well established across Western Australia, which helps geologists compare new results with known gold districts. It does not guarantee a deposit at Mt McKenna, but it gives the exploration model a recognised framework.

Geological Setting Adds Context to the Discovery

According to the ASX report, Granite Well East sits at the intersection of two geological domains: a north-northwest trending regional mafic-syenite sequence and a west-northwest trending Diorite Hill mafic-ultramafic intrusive complex. Platina described this as a structurally favourable setting where two major corridors intersect.

In simple terms, the area contains several features that can help focus mineralising fluids, including intrusive rocks, faulting and contrasting rock types. The company also noted that the broader granitic or felsic intrusive unit hosting MMKAC0239 and MMKAC0240 is anomalous in gold, and that historical holes with anomalous gold values sit within the same unit.

As regional context, the announcement referenced Brightstar Resources' Alpha Gold Deposit, located about 20 kilometres southwest along the same north-northwest structural corridor. This was presented as a geological reference point rather than evidence of continuity.

Next Steps Outlined in the Report

The ASX update gives a relatively clear sequence for the next programme at Mt McKenna.

Platina also stated that $109,200 had been awarded under the Western Australian Government's Co-funded Exploration Drilling Program to support the 13-hole RC drilling programme at Target 2. That funding support is specifically described in the announcement for the Target 2 RC programme and should not be interpreted beyond that scope.

Why Mt McKenna Is Gaining Investor Attention

The Mt McKenna update points to a project moving from broad target generation into more focused testing. Indeed, within less than a year of acquiring the project, Platina has reported:

• 220 aircore holes for 10,809 metres
• a 1 kilometre-plus mineralised corridor at Granite Well East
• an 800 metre-plus mineralised structure at Black Rock
• shallow high-grade intercepts including 1m at 7.10 g/t Au and 4m at 4.69 g/t Au
• multiple holes ending in mineralisation at depth

For investors, the key question now is straightforward: do these shallow aircore results continue into fresh rock with enough continuity to justify larger-scale drilling? The planned RC programme is intended to help answer that.

Early-stage gold exploration remains inherently uncertain, and the current results are still exploration results rather than a resource estimate. Even so, the latest ASX report suggests Mt McKenna now has several testable gold trends, stronger geological vectors, and a defined near-term drilling path.

If the follow-up RC drilling confirms depth continuity beneath the current aircore hits, Platina could materially improve market understanding of the scale and orientation of the gold systems at Mt McKenna. For now, Granite Well East and Target 2 appear set to be the project's main catalyst zones through the remainder of 2026.

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