Toronto, Ontario, March 9, 2022 (GLOBE NEWSWIRE) — Plato Gold Corp. (TSX-V: PGC) (OTCQB: NIOVF)(Frankfurt: 4Y7 Or WKN: A0M2QX) (“Plato” or “society”) Is pleased to announce the results of the recently completed High Resolution Aerial and Time Domain Electromagnetism (TDEM) survey. Pick river PGE-Cu projectIt is located 30km northwest of the Ontario Marathon. The survey was conducted by Prospectair Geosurveys Inc. in late fall 2021. Several high-priority anomalies have been identified and follow-up will begin during the 2022 field season.
Figure 1 Click here to view
The TDEM study succeeded in tracking the western extension of the layered gabbro unit through the southern central part of the Pick River property. The layered gabbro unit, which occupies the eastern and northern edges of the Coldwell Alkaline Complex, is the Sally Deposit near Generation Mining Limited and the Redstone Prospect (located within 4 km of the eastern border of the Pick River claim) and Marathon Palladium. -Along the eastern edge hosting copper deposits. Current measurements and displayed mineral resource estimates for marathon deposits (including Georgey and Sally deposits) consist of 4.19 Moz Pd, 1,101 Mlb Cu, 525,000 oz Au, and 1.39 Moz Pt (Generation Mining Limited). Website, March 2022). The Redstone Prospect is located within 2.5 km of the Pick River claim and within the outer edge of the eastern gabbro in the northwest corner of Generation Mining’s property. The mineralization zone is easterly and continuous along a 450m strike, opening to the west. The mineralization consists of disseminated chalcopyrite, pyrrhotite, and microbornite. Channel sampling with Generation Mining in Redstone Prospect returned 0.29 g / t TPGE and 0.24% Cu at 103.4 m (Gignac et al. 2021).
The data received from Plato Gold’s TDEM survey appear to clearly show the linear tendency of layered gabbro units as magnetically low anomalies. This is consistent with the low magnetic features that outline the layered gabbro units along the north and eastern edges of the Coldwell Complex, as determined by the 2007 Aerial Mag-VTEM Geotech Ltd survey. In this magnetically low trend of pick river properties, Plato’s investigation detected strong simultaneous EM anomalies. This area, in the central part of the claims group, will be a high priority target for the next field season.
Figure 2 Click here to view
Additional priority 1 EM anomalies were also detected in the northwestern and far northeastern parts of the Pick River Claims Group. Past limited gold digging operations in the northwestern anomalous areas have shown the presence of extensive malachite staining in the surrounding rock exposure. The fourth EM anomaly, which happens to have high magnetic features, is located about 500 m northeast of the layered gabbro anomaly. The site was also identified as a strong EM anomaly from aerial surveys in 2007 and was recommended for follow-up in the 2011 Ontario Geological Survey Report (Campbell 2011). These four areas will be the focus of Plato Gold’s exploration program for the 2022 Pic River PGE-Cu project.
The Caldwell Complex (CC) has conducted focused research over the last two decades. However, much of the activity and, as a result, most of the known mineralization is located around the eastern margin of CC. Plato Gold believes that the untapped northwestern margin has similar potential for PGE-Cu-Au mineralization. Due to the rugged terrain of the area, the Pick River property has undergone minimal historical exploration activity.
Figure 3 Click here to view
Note that the mineralization hosted in the adjacent marathon property of generation mining does not necessarily represent or represent the mineralization hosted in the company property. Further exploration work with Plato Gold is required to determine the composition and continuity of the preferred mineralized gabbro horizon across the Pick River property.
The technical and scientific disclosures for this news release are Gerald D. White, B.Sc., P.Geo, “Qualified Persons” (QP) under National Instrument 43-101. Reviewed and approved by.
Plato Gold Corp.about
Plato Gold Corp. is a Canadian exploration company trading on the TSX Venture Exchange, OTC Market and Frankfurt Stock Exchange, with projects in Timmins, Ontario, Marathon, Ontario and Santa Cruz, Argentina.
The Timmins, Ontario project includes four properties at the Harker / Hollowway Gold Camp, east of Timmins, Ontario, Gibold, Harker, Hollowway, and Marriott.
In Argentina, Plato owns a 95% stake in Winnipeg Minerals SA (“WMSA”). This is an Argentine legal entity with a large number of consecutive mining rights totaling 9,672 hectares of potential gold and silver.
The Good Hope Niobium Project consists of approximately 5,146 hectares in the Kirara Lake Area and Cairn Goem Lake Area Township near the Ontario Marathon, with a primary target of niobium.
The Pic River Platinum Group Metals (PGM) project consists of 2,247 hectares on Foxtrap Lake and Grain Township near the Ontario Marathon, 19 of which are adjacent to the western border of the Generation Mining Marathon PGM project and are in the Generation Mining Sally. deposit.
For more information about the company, please visit www.platogold.com...
For more information, please contact:
President and Chief Executive Officer
Plato Gold Co., Ltd.
Neither the TSX Venture Exchange nor its regulatory provider (the term is defined in the TSX Venture Exchange Policy) is responsible for the validity of this release.
Description of future prospects
This news release contains “forward-looking statements” within the meaning of applicable securities law. These statements include the completion of offerings, statements on potential mineralization and resources, exploration results, and the concentration of paid minerals that may offset operating costs with future plans and objectives. , Not limited to these. Forward-looking statements include “believe,” “expect,” “expect,” “estimate,” “may,” “can,” “do,” “do,” and “plan.” Can be identified by term. Forward-looking statements are hypothetical and, by their nature, carry inherent risks and uncertainties in dealing with future events and circumstances. While these statements are based on information currently available to us, we do not guarantee that actual results will meet management expectations. These forward-looking statements are subject to various risks, uncertainties, and other factors that may cause actual events and outcomes to differ materially from those predicted in the forward-looking information. Risks that these statements may impede changes or realization include, but are not limited to: Increased cost of capital. Timing and content of future work programs. A geological interpretation based on excavation that may change with more detailed information. Due to potential process methods based on limited testing work and mineral recovery assumptions, and comparisons with what is considered similar deposits, further testing work may not be able to compare. Testing of our process may not be successful, and even if testing is successful, economic and other results may not be as expected. Labor force, equipment and market availability of produced products. Conditions that change so that the minerals of our property cannot be mined economically or the necessary permits cannot be obtained. We also cannot predict or negate the impact of COVID-19 on our business, including but not limited to the impact of COVID-19 on commodity prices, capital market conditions, labor and international travel and supply chain restrictions. ..Plato’s management tried to identify There may be significant factors that may cause actual results to differ materially from those contained in the forward-looking statements, and other factors that may cause the results to be unpredictable, estimated, or unintended. there is. Actual results and future events may differ materially from those expected in such statements, and there is no guarantee that such statements will be accurate. Therefore, readers should not place undue reliance on forward-looking statements. The forward-looking information contained in this document is current as of the date of this document and we are responsible for updating or revising such information to reflect new events or circumstances, except as required by law. We do not owe.
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Plato reports on high-resolution aerial and time-domain electromagnetic (TDEM) research, the Canadian Business Journal
Source link Plato reports on high-resolution aerial and time-domain electromagnetic (TDEM) research, the Canadian Business Journal