ONTARIO - Toronto-headquartered Platinex Inc. is shifting its focus to the Shining Tree gold property in the Abitibi greenstone belt. The decision comes after Platinex settled a dispute with the province over its Big Trout Lake chrome and PGE property. At the end of last year Platinex relinquished its claims and leases there in exchange for a payment of $5 million. The settlement comes after years of litigation and confrontation with Aboriginal bands.
Platinex has an option to earn 100% of the Shining Tree property. The company has reassayed core from holes drilled a year ago and believes the gold potential increases with depth. Platinex recently raised $2 million for a 11,500-metre drill program on the property.
More information about both Shining Tree and Big Trout Lake is available at www.Platinex.com.