Plato Gold Corp. is a junior Canadian exploration company that is focused on prospective properties in recognized gold mining districts around the world. Plato currently holds a portfolio of properties in significant gold mining camps in Northern Ontario, Northern Quebec and Santa Cruz, Argentina.
Plato Gold completes drilling program at Silver Fox project in Ontario
Explorer Plato Gold Corp (TSX-V: PGC) said it has successfully completed a 7-hole, 2,623 metres diamond drilling program at its Silver Fox gold project east of Timmins, Ontario.
CEO Anthony Cohen commented: "We are pleased with the results to date and look forward to continuing our exploration program on Silver Fox and our other Timmins properties. With the numerous activities in nearby projects, there is the potential for many gold discoveries yet to come in this historic gold camp. Plato is strongly positioned with 5 different groups of well-located claims along the Highway 101 gold corridor.”
Of interest, G09-01 made an intersection of 265 grams per ton of gold over 0.5 metres. The hole also returned 1 metre at 1.22 g/t Au.
Highlights of the remaining four holes for which Plato has received assay results include 0.8 metre at 3.59 g/t, 1 metre at 3.42 g/t, 0.85 metre at 1.96 g/t and 0.67 metre at 5.31 g/t Au.
Based on the results of this drill program and the historic work undertaken on the property the group now plans a follow-up work program totalling 4,800 metres of drilling approximately 12 holes at a cost of C$580,000 for the eastern portion of the property.
Plato has exploration projects in Northern Ontario, Northern Quebec and the Lolita property in the province of Santa Cruz, Argentina.
The Northern Ontario project includes five properties: Guibord, Harker, Harker-Garrison, Holloway and Marriott in the Harker/Holloway gold camp located east of Timmins, Ontario.
The Northern Quebec project includes severn properties: Nordeau Bateman, Vauquelin, Vauquelin Pershing, Vauquelin Horseshoe, Pershing Denain, Hop O'My Thumb and Once Upon a Time. All seven are located near Val-d'Or, Quebec.
Plato is in the advanced exploration stage on the Nordeau West site with a NI 43-101 compliant gold resource reported on March 12, 2009. Highlights of the Nordeau West mineral resource update include indicated resources of 30,212 oz Au on average grade of 4.17 g/t and 225,342 tonnes and inferred resources of 146,315 oz Au on average grade of 4.09 g/t and 1,112,321 tonnes.
In Argentina, the Lolita Property is comprised of 3 contiguous concessions and initial work has been started on this property.