Two neighbouring exploration companies, working ground near Shining Tree, are joining forces to gain a better understanding of the area geology.
Newmarket's Platinex and Transition Metals of Sudbury have agreed to share data and conceptual knowledge in collaborating on exploration work with their adjoining properties, 100 kilometres south of Timmins.
An Oct. 27 joint news release from the companies emphasized the need to understand the "mineral controls" in directing exploration drilling of the area around Transition's Cryderman property.
The central portion of the Shining Tree area contains a cluster of gold showings that are considered underexplored.
Transition, the well-known Sudbury project generator, acquired the Cryderman property in 2018. The property contains the Queen Elizabeth vein, situated close to the property boundary with Platinex. There's no record of exploration on Cryderman property since the late 1940’s when it saw small-scale production.
With 20,750 hectares at their disposal, Platinex has been steadily acquiring properties toward developing a mining camp-scale project in the Shining Tree gold district, about 40 kilometres southwest of Gowganda.
Caldas Gold's Juby deposit is 20 kilometres to the east and IAMGOLD-Sumitomo's Cote gold mine development is 40 kilometres to the west.
"We are pleased to work towards a common understanding of the controls on gold mineralization in the Shining Tree area with Transition Metals in order for both companies to enhance their approaches to identifying optimal exploration targets," said Platinex chairman-CEO James Trusler in a statement.
"This would apply not only on the Queen Elizabeth vein but on the many other known and yet to be identified prospects in the Shining Tree area.”
“Sometimes you just have to take a step back before you can fully appreciate what the scale of the opportunity can be," added Transition president-CEO Scott McLean.
"Transition has reported high-grade gold on its Cryderman property and by working with Platinex we expect to gain a more robust understanding of the mineralization controls to optimally target drilling."
