Platina Resources (ASX:PGM) confirmed two new mineralized gold targets at the Challa project in Western Australia in the December 2024 quarter after completing a second-phase 1,856-meter aircore drilling program, according to a Tuesday Australian bourse filing.
It said it was awarded an exploration incentive scheme grant during the period to diamond drill at the Xanadu gold project, also in Western Australia, being awarded AU$54,750 to fund up to 50% of the direct drilling costs.
The firm had AU$12.3 million in cash and tradeable equity investments valued at AU$100,000 as of the end of the December 2024 quarter.
Its shares fell 5% on market close.
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