- Located within
Abitibi Greenstone Belt gold mining camp - Excellent access - located on
Highway 101 - Excellent infrastructure – located 45 km northeast of
Kirkland Lake and 130 km east ofTimmins
The proposed drill holes were selected based on geophysics and geology characteristics of Abitibi gold deposits:
- Magnetic, electromagnetic (EM) and gravity anomalies
- Deformation zone parallel to
Porcupine-Destor Deformation Zone - NE-SW trending fault
- Same stratigraphic unit as the historic Harker gold mine and Iris gold mine.
The location of the drill hole collars was selected based on geophysics anomalies. The drill hole collars correspond to magnetic high, electromagnetic (EM) high and gravity high. The total magnetic intensity high corresponds to iron-rich tholeiitic basalts lithology unit. The EM and magnetic anomalies can also correspond to sulphide and gold mineralization. The proposed drill holes have the same regional gravity high signature as the historic Harker gold mine and Iris gold mine.
“Plato is pleased to commence drilling on one of our well-located gold properties in the Harker/Holloway gold camp. All of our properties have excellent infrastructure nearby, as well as either currently operating or historic mining operations,” said
Figure 1 Drill set up on the first drill hole on
Please click here to view image
The regional geophysics second derivative magnetic high indicates that the proposed holes are on a southwest trending stratigraphic unit that continues to Harker gold mine (Au, Ag), Iris mine (Au, W) and Howey-Cochenour-Williams occurrence (Au, Cu, Pb, Zn). Harker gold mine is located 14.7 km southwest of the proposed drill holes. In 1986-1988, New Strategic Metals in joint venture with
Qualified Person
The Marriott property is located 66 km east of Matheson, in Marriott and Hollway Townships,
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For additional company information, please visit www.platogold.com.
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For further information, please contact:
President and CEO
T: 416-968-0608
F: 416-968-3339
info@platogold.com
www.platogold.com
Forward-Looking Statements
This news release contains “forward-looking statements”, within the meaning of applicable securities laws. These statements include, but are not limited to, statements regarding the potential mineralization and resources, exploration results, concentrations of pay minerals that may offset operating costs and future plans and objectives. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include but are not limited to: changing costs for mining and processing; increased capital costs; the timing and content of upcoming work programs; geological interpretations based on drilling that may change with more detailed information; potential process methods and mineral recoveries assumption based on limited test work and by comparison to what are considered analogous deposits that with further test work may not be comparable; testing of our process may not prove successful and even it tests are successful, the economic and other outcomes may not be as expected; the availability of labour, equipment and markets for the products produced; and conditions changing such that the minerals on our property cannot be economically mined, or that the required permits cannot be obtained. 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. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.
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