Platina Resources Limited has identified a new, major gold prospect, Hermes, at its Xanadu Project in Western Australia's Ashburton Basin following a historical data review, geophysics interpretation and follow-up rock chip sampling program. Hermes shares a similar mineralisation style and
is situated on the same fault structure that hosts the 1.4 Moz Mt Olympus gold deposit, 10kms to Hermes' northwest. Hermes has a 570m strike length and is 350m in width. Sipa Resources collected 11 gold rock chip samples with three returning over 0.5 g/t (up to 1.96 g/t), two between 0.1 - 0.5 g/t and six samples less than 0.1 g/t. A recent Platina field visit confirmed widespread outcropping gold mineralisation. Out of nine rock chip samples collected, three returned with gold greater than 0.26g/t and a maximum of 0.82g/t. Elevated arsenic and copper values were observed in assays which corelates with the Mt Olympus style of mineralisation. In addition to a follow-up diamond drilling at Xanadu West, where several drill targets have been
identified, a field mapping program, cultural heritage survey and reverse circulation drilling program are now planned for the Hermes prospect area.