Plato Gold Intercepts 5.28 g/t Au Over 2.85 m and 3.71 g/t Au Over 4.25 m at Nordeau
Plato Gold Corp. (TSX VENTURE:PGC) ("Plato") an exploration company with a portfolio of properties in significant gold mining camps in Northern Ontario, Northern Quebec, and Santa Cruz, Argentina is pleased to release assay results from the first 3 drill holes completed this year at the Nordeau Project. The Property is located 50 km east of Val-d'Or, and has been optioned from Globex Mining Enterprises Inc. The recent drilling results in conjunction with earlier exploration campaigns illustrate a positive continuation of gold mineralization both laterally and at depth.
The previously identified Main Zone at the Nordeau West project area continues to provide significant intersections of gold mineralization.
The gold mineralization on the property is found within metamorphosed sediments closely associated with the magnetite iron formation and in sheared and altered mafic volcanics. The gold mineralization is typically within quartz veins containing disseminated to locally semi-massive sulphides. Gold is found as free grains within quartz veins or associated with sulphide mineralization. The associated sulphide mineralization consists of arsenopyrite, pyrite, pyrhotite, and minor chalcopyrite.
In addition to the main zone, the drilling has identified a series of narrower mineralized gold zones occurring en-echelon to the main zone. Once all the assay results are received three dimensional modeling will be completed in order to evaluate the size and grade of the significant gold mineralization.
The most significant drill assay intervals received to date are:
NW-08-01 FROM TO LENGTH Au
M M M g/t
--------------------------
332.00 333.95 1.95 1.30
-------------------------------------
INCLUDING: 332.00 332.35 0.35 0.41
332.35 332.85 0.50 1.56
332.85 333.10 0.25 5.76
333.10 333.95 0.85 0.21
-------------------------------------
342.60 342.80 0.20 2.55
393.60 394.35 0.75 1.15
--------------------------
404.00 406.85 2.85 5.28
-------------------------------------
INCLUDING: 404.00 405.40 1.40 1.98
405.40 406.85 1.45 8.47
-------------------------------------
427.40 429.55 2.15 4.80
-------------------------------------
INCLUDING 427.40 428.25 0.85 2.28
428.25 428.70 0.45 7.59
428.70 429.25 0.55 6.61
429.25 429.55 0.30 4.43
-------------------------------------
430.15 430.45 0.30 4.25
431.60 431.80 0.20 1.02
434.40 434.75 0.35 2.27
435.20 435.40 0.20 2.48
444.45 445.15 0.70 9.73
446.50 446.90 0.40 1.21
450.65 451.00 0.35 4.18
-------------------------------------
-------------------------------------
NW-08-02 From To Length Au
M M M g/t
159.15 159.65 0.50 3.56
212.70 213.60 0.90 2.96
229.05 229.40 0.35 1.78
232.45 232.85 0.40 1.16
234.85 235,40 0.55 8.83
275.40 276.05 0.65 1.68
276.45 276.75 0.30 1.17
281.95 282.15 0.20 2.79
288.30 288.55 0.25 5.23
---------------------------
318.30 321.10 2.80 1.46
-------------------------------------
INCLUDING 318.30 319.70 1.40 1.06
319.70 321.10 1.40 1.86
-------------------------------------
-------------------------------------
NW-08-03 From To Length Au
M M M g/t
441.70 441.95 0.25 1.44
520.75 521.55 0.80 1.33
---------------------------
547.15 551.40 4.25 3.71
-------------------------------------
INCLUDING 547.15 547.80 0.65 1.03
547.80 548.25 0.45 10.00
548.25 549.15 0.90 5.12
549.15 549.60 0.45 6.90
549.60 550.45 0.85 0.86
550.45 551.40 0.95 2.29
-------------------------------------
573.60 574.10 0.50 5.57
592.00 592.80 0.80 1.78
-------------------------------------
Fire-assay results from the first 3 drill holes show extreme grade variability even in the presence of visible gold as well as with longer core samples. It appears that gold intercepts could be merged into larger mineralized and continuous zones enabling a more representative composite sample for total gold extraction metallurgical testing.
Once all assay results are received they will be reconciled with the detailed core logging and historical results and eventually used in defining the full extent and continuity of the mineralized horizons.
Plato has recently completed 6 holes at Nordeau totaling 3369 meters of NQ core and is presently awaiting assay results from the remaining three holes.
The program is being managed by Jason Ross and Martin Bourgoin, P.Geo., who are independent consultants. Martin Bourgoin, P.Geo., is the Project's Qualified Person under the guidelines of National Instrument 43-101, and he has reviewed this release.
QA/QC Procedures: The Company has implemented a quality control program to ensure best practices in sampling and analysis of the core samples. The core is first logged and then split in half during the sampling process with the remaining half being retained for verification and reference purposes. Duplicates, standards and blanks are inserted randomly into the sample stream. The samples are delivered directly in security bags to ALS-Chemex Laboratories in Val-d'Or, Quebec (Certification ISO 9001) for analysis by fire assay - AA techniques. ALS-Chemex Laboratories Ltd. of Val-d'Or, Quebec an accredited lab is the primary assay laboratory. Additionally ALS Chemex has attained ISO 9001:2000 registration which requires evidence of a quality management system covering all aspects of the assaying process. To ensure compliance with this system regular internal audits are undertaken by staff members specially trained in auditing techniques.
About Plato Gold Corp.
Plato Gold Corp. ("Plato") is a Canadian junior gold exploration company listed on the TSX Venture Exchange. Plato has Canadian exploration projects in Northern Ontario, Northern Quebec and the Lolita Property in the province of Santa Cruz, Argentina. The Northern Ontario project includes 5 properties: Guibord, Harker, Harker-Garrison, Holloway and Marriott in the Harker/Holloway gold camp located east of Timmins, Ontario. The Northern Quebec project includes 7 properties: Nordeau Bateman, Vauquelin, Vauquelin Pershing, Vauquelin Horseshoe, Pershing Denain, Hop O'My Thumb and Once Upon a Time. All 7 properties are located near Val d'Or, Quebec and Plato is in the early stage of exploring these projects. In Argentina, the Lolita Property is comprised of 3 contiguous concessions and initial work has been started on this property. For additional company information, please visit:
www.platogold.com.For all Plato Gold Corp. investor relations needs, investors are asked to visit the Plato Gold Corp. IR Hub at
www.agoracom.com/ir/platogold where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to pgc@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and updates in real time.
Cautionary Statements
This news release contains "forward-looking statements", within the meaning of the United States Private Securities Litigation Reform Act of 1995 and similar Canadian legislation, concerning the business, operations and financial performance and condition of Plato. Forward-looking statements include, but are not limited to, statements with respect to the benefits of the offering and option transaction. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made, and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Plato to be materially different from those expressed or implied by such forward-looking statements, including but not limited to risks related to: raising less than the required amount; not realizing on the anticipated benefits from the transaction or not realizing on such anticipated benefits within the expected time frame; risks related to exploration; actual resource viability, and other risks of the mining industry. Although management of Plato has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Plato does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
For more information, please contact
Plato Gold Corp.
Anthony Cohen
President and CEO
(416) 968-0608
(416) 968-3339 (FAX)
Email: info@platogold.com
Website:
www.platogold.comor
Agoracom Investor Relations
Email: pgc@agoracom.com
Website:
www.agoracom.com/ir/platogoldor
pro-edge consultants inc.
(416) 581-0177 or Toll-Free: 1-866-544-9622
Email: info@pro-edge.com
Website:
www.pro-edge.comClick here to see all recent news from this company
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