viewPlato Gold Corp

Plato hits 13.34 g/t gold over 2.1 metres at Nordeau East


Plato Gold Corp. (CVE:PGC) announced Wednesday drill results from its Nordeau East property in Quebec, which were included in an updated model of the site, putting the company in a closer position to nailing down more drill targets for further exploration.

The latest phase of diamond drilling on Nordeau East, which is located in the Abitibi Greenstone Belt east of Val-d'Or, comprised 17 holes for a total of 8,754 metres. The campaign was designed to further delineate mineralized zones intersected by Plato in 2006, 2009 and 2010, and by earlier companies' exploration programs.

Highlights of results included 3.01 grams per tonne (g/t) of gold over 1.5 metres in hole NE-11-02; and 13.34 g/t gold over 2.1 metres in hole NE09-01, as well as 12.28g/t gold over 6.5 metres in the same hole.

In addition, hole NE09-02 returned 9.11 g/t gold over 5.6 metres; and hole NE11-17 intersected 4.53 g/t gold over 3.00 metres.

Plato said the results of the 2011 diamond drill program have already been integrated into an updated database. Premliminary modeling in-house has shown that there are five main iron formation horizons at the property, the company said, which individually transect at least 1.5 kilometres of strike length through Nordeau East.

Drilling has intersected gold mineralization in distinct zones along all of these horizons, Plato added.

According to the company, the mineralized zones are not continuous along the entire strike length of the iron formations, but rather appear to be arranged in an en echelon pattern, both along strike and down dip.

A 3D model is currently being created for the project to confirm the preliminary interpretation, and to provide drill targets for further exploration.

“I am pleased with the progress and results coming out of our Nordeau East Property," said president and CEO, Anthony Cohen.

"Our goal is to continue to outline gold mineralization on the property leading to a 43-101 Resource Estimate.

"We have already outlined a NI 43-101 compliant resource at Nordeau West, and with continued success at Nordeau East, we will be able to build a respectable sized gold resource on our large Val d’Or property portfolio."

The Nordeau East property covers part of the eastern extension of the prolific “Larder Lake -
Cadillac Break”. Gold-mineralized zones are spatially associated with the iron formation horizons. Historical reserves of 345,900 tonnes grading 6.33 g/t gold were reported for the property.

The Nordeau West site has an NI 43-101 compliant resource of 30,212 indicated ounces, and 146,315 inferred ounces.

Plato holds a total of seven exploration properties in northern Quebec, as well as four in northern Ontario. It also owns the Lolita property in Santa Cruz, Argentina, which is comprised of 3 concessions, with drill targets expected on this site by year-end.

Quick facts: Plato Gold Corp

Price: 0.025 CAD

Market: TSX-V
Market Cap: $5.11 m

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