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Plexmar Inc.: Sampling Returns Up to 304 g/t Au Over 2 M
QUEBEC CITY, QUEBEC--(CCNMatthews - March 2, 2006) - Plexmar Resources Inc. (TSX VENTURE:PLE), announces that recent sampling on the Bolsa del Diablo property returned gold values of up to 304 g/t Au in a 2m vein channel sample and up to 23.2 g/t Au in altered volcanic rocks.
"The high gold values in the veins are interesting but the gold values in the altered volcanic rocks indicate the potential to find a large tonnage low grade deposit." says Guy Bedard, president
Geologists believe that a structural corridor oriented NE-SW runs across the project is associated with the gold values. This corridor contains three types of gold mineralization, vein type, and two main types of volcanic alterations, highly silicified stockwork possibly representing silica caps and highly argillic alterations with limonite.
VEINS
Channel samples with values of up to 304 g/t Au were taken in veins from 6 pits excavated by local miners. The pits are contained within an area measuring 115,000 sq.m. where hundreds of pits are present. The 6 pits sampled have an average depth of 19 meters and a total of 52 channel samples were taken every 2 vertical meters. Values range from 0.28 g/t up to 304 g/t with an average value of 3.81 g/t Au.(after removing the 304 g/t sample)
92 channel samples were taken from other veins, distributed over an area of 2 km x 6 km, returned values ranging from 0.0023 to 40.2 g/t Au with an average of 6.31 g/t Au. The veins range from 0.10m to 3.0m in width.
VOLCANIC ROCKS
20 samples of highly silicified stockwork and argillically altered with limonite volcanic rock showing silica and disseminated sulphides were taken. Values range from background to 23.5 g/t Au (in silicified stockwork) with an average of 2.23 g/t Au. Theses samples were taken within an area covering 5 Km x 2 Km.
Geologists believe they have defined an area of highly silicified stockwork volcanics, possibly indicating a silica cap measuring 0.5 km x 0.6 km located in the Northeast corner of the Angolos concession. Samples were taken and results are pending.
These results show that gold occurs in three types of emplacement mechanism within the inferred structural corridor. The relationship between these types of mineralization and spatial occurrences have not yet been defined. However, they indicate the potential for a large mineralizing event that could lead to the discovery of a large tonnage low grade deposit.
Exploration work will now focus on the highly altered volcanic rocks recognized within an area measuring 6km x 2km. Systematic sampling, mapping and trenching will be carried out.
Results from 120 samples, mostly taken from volcanic rocks, are pending and will be released as soon as available. Detailed maps are being prepared and will be posted on the Company's website after data compilation and interpretation.
All samples are analyzed by ALS Chemex in Lima. Martin St-Pierre acted as the QP for the preparation of this news release.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
82 M shares outstanding
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