In May 2018, Plato completed 5016 metres
of diamond drilling on the Good Hope Property. The drilling focused
on outcropping mineralization at ‘Site 28’ in the northwestern part
of the property and encompassed an area of approximately 500m by
500m (see Figure 3). All holes were drilled in a northwesterly
direction. The nine completed drill holes ranged in length from 372
to 672 metres, testing the area to a vertical depth of between 285
and 580 metres (see Press Release dated 6 June 2018 for drill
collar information). All holes intersected zones (up to 27m wide)
of massive carbonatite within a brecciated system consisting of
variably fenitized syenite/quartz-syenite intruded by carbonatite
dykes and crosscutting carbonatite veins. Although the brecciated
nature of the host rocks makes any orientation or trend of
mineralization difficult to determine, the intersection of
massive carbonatite in every drill hole from surface up to
approximately 500m depth suggests thatsignificant potential exists
for niobium mineralization over a large
area.
Assays of the drill core samples
collected from the program peaked at 0.950% niobium
(Nb2O5) with
6.20% phosphorus (P2O5) over 1.1m in a sample of
massive carbonatite (PGH-18-06, 382.94-384.04m; see Table
1).
The two most significant intersections
from the drilling program were 0.190%
Nb2O5 and
2.04% P2O5
over 93.08m (drill hole PGH-18-06;
354.18-447.26m) and 0.175%
Nb2O5 and
2.03% P2O5 over
89.24m (drill hole PGH-18-10A; 345.0-434.24m)
(see Table 1).
Dr. Roger Mitchell of Lakehead
University is undertaking a petrographic study of core samples from
the recent drill program and has made the following
observations:
“The ore mineral of the Good Hope
carbonatite, in common with all other niobium producing
carbonatites, is pyrochlore. The high density and
coarse grain size of the Good Hope pyrochlores, along with an
association with acid soluble inclusions and host carbonates may be
very favourable for simplifying of ore beneficiation
processes.”
“Pyrochlore is a sodium (Na)- and
calcium (Ca)- bearing niobium (Nb) oxide with the simplified
composition of (NaCa)Nb2O7. The majority of the Good
Hope pyrochlores are typically of relatively uniform composition
and contain on average about 70 wt.% Nb2O5with 1-2 wt.% strontium
oxide (SrO) and barium oxide (BaO). Minor variations in composition
range from these dominant “normal” Na-Ca-pyrochlores to Na- and
Ca-poor (1-4 wt.% Na2O) varieties also with 70 wt.% Nb2O5. Replacement of both
types of pyrochlores by trace amounts of Sr-rich varieties with 4-6
wt.% SrO, 1-8 wt.% BaO, less than 1 wt.% UO3, and no detectable
ThO2 are
also present. Some pyrochlores have been replaced in part by
fersmite [CaNb2O6 with approximately
58 wt.% Nb2O5] or ferrocolumbite
[FeNb2O6] with c. 79 wt.%
Nb2O5].”
“The pyrochlores commonly co-exist with
the phosphorus (P) bearing mineral apatite [Ca5(PO4)3(OH,F,Cl)] and appear to
form clasts derived from an earlier stage apatite-pyrochlore
cumulate body. These clasts have commonly been disaggregated
resulting in the liberation of the pyrochlores from the apatite
into the matrix of the diverse later stage carbonate minerals which
make up the carbonatite
intrusion.”
“The pyrochlores exhibit a very wide
range in size, mainly from 100 microns to 1 mm, with some crystals
being up to 5 mm in maximum dimension. The majority are euhedral,
not resorbed and of relatively uniform composition. Inclusions when
present are of apatite, and/or diverse
carbonates.”
Dr. Mitchell states that “compared with
other carbonatites currently being evaluated for their niobium
potential the Good Hope prospect has significant potential because
of favourable mineralogy and
infrastructure”.
“I am very pleased with the results of
this drill program,” said Anthony J. Cohen, President of Plato Gold
Corp. “The large area of massive carbonatites and breccias suggest
that there is much more area to explore with this near to surface
project, that is located close to unparalleled infrastructure. The
future demand for niobium is growing with all of its important new
uses and it is fortunate to have this project located in the
Province of Ontario.”
Approximately 2150 metres or 40% of all
drill core was sampled. A total of 2081 drill core samples from the
program were submitted to Activation Laboratories (ActLabs) in
Thunder Bay, Ontario and analyzed for niobium using a fusion XRF
method. Samples from holes PGH-18-01 through PGH-18-03 were also
analyzed for a whole rock and trace element ICP analytical package.
Samples from holes PGH-18-04 onwards were submitted for an XRF
package designed for coltan deposits which included Ta, Nb, U, Th,
Zr, Fe, P, Sn, Y, and W oxides. An internal Quality Control Quality
Assurance (QAQC) program was implemented with an additional 168
QAQC samples (blanks, reference standards, and duplicates) also
being submitted for analysis.
Plato has contracted an independent
mining and geological consulting firm to review the data from the
recent program and help with planning of the next phase of drilling
to help move the project forward. The next phase of the program may
include infill drilling and sampling, extension of the drilling
pattern to the west and north, and drilling of other target
areas.
Laura Giroux, Msc., P.Geo., a Qualified
Person as defined by NI 43-101, is responsible for the technical
information contained in this news release and has reviewed and
approved its content.
About Dr. Roger
Mitchell
Dr. Roger Mitchell is Professor Emeritus
of Geology at Lakehead University, a Fellow of the Royal Society of
Canada and is a recognized international authority on the petrology
and mineralogy of diamond-bearing rocks (kimberlites; Lamproites)
and carbonatites. He has acted as a consultant to many major and
junior mining exploration companies. With respect to carbonatites
he has authored many significant publications in international
refereed periodicals (Lithos; Ore Geology Reviews) on the
mineralogy and petrology of Nb-bearing
carbonatites.
About Plato Gold
Corp.
Plato Gold Corp. is a Canadian
exploration company listed on the TSX Venture Exchange with
projects in Marathon Ontario, Timmins, Ontario and Santa Cruz,
Argentina.
The Good Hope Niobium Project consists
of a total of 254 mining claims covering approximately 5,100
hectares in Killala Lake Area and Cairngorm Lake Area, near
Marathon Ontario. In May 2017, Plato signed an option agreement
with Rudy Wahl and co-owners to acquire 100% interest in the Good
Hope Property.
The Timmins Ontario project includes 4
properties: Guibord, Harker, Holloway and Marriott in the
Harker/Holloway gold camp located east of Timmins, Ontario. Plato
holds 50% interest in the Guibord property with the remaining 50%
held by Osisko Mining Inc. (“Osisko”).
Osisko also holds 80% interest in the Harker property with Plato
holding the remaining 20%.
In Argentina, Plato owns a 75% interest
in Winnipeg Minerals S.A. (“WMSA”), an
Argentina incorporated company. The Lolita Property, held by WMSA,
is comprised of a number of contiguous mineral rights totaling
9,672 hectares. Work has advanced on this exploration property to
the point that it is drill-ready or ready to be optioned to a
partner.
For further information, please
contact:
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this
release.
CAUTIONARY STATEMENT REGARDING
FORWARD-LOOKING INFORMATION: This news release includes
certain "forward-looking information" within the meaning of
applicable Canadian securities laws. Forward looking information
includes, but is not limited to, statements, projections and
estimates with respect to the Offering, the potential
mineralization and resources, exploration results, and future plans
and objectives. Generally, forward-looking information can be
identified by the use of forward-looking terminology such as
“plans”, “expects” or “does not expect”, “is expected”, “budget”,
“scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or
“does not anticipate”, or “believes”, or variations of such words
and phrases or state that certain actions, events or results “may”,
“could”, “would”, “might” or “will be taken”, “occur” or “be
achieved”. Such information is based on information currently
available to Plato and Plato provides no assurance that actual
results will meet management's expectations. Forward-looking
information by its very nature involves inherent risks and
uncertainties that may cause the actual results, level of activity,
performance, or achievements of Plato to be materially different
from those expressed or implied by such forward-looking
information. Actual results relating to, among other things,
approval and completion of the Offering, results of exploration,
project development, reclamation and capital costs of Plato’s
mineral properties, and Plato’s financial condition and prospects,
could differ materially from those currently anticipated in such
statements for many reasons such as: changes in general economic
conditions and conditions in the financial markets; changes in
demand and prices for minerals; litigation, legislative,
environmental and other judicial, regulatory, political and
competitive developments; technological and operational
difficulties encountered in connection with Plato’s activities; and
other matters discussed in this news release and in filings made
with securities regulators. This list is not exhaustive of the
factors that may affect any of Plato’s forward-looking statements.
These and other factors should be considered carefully and
accordingly, readers should not place undue reliance on
forward-looking information. Plato does not undertake to update any
forward-looking information, except in accordance with applicable
securities laws.
Table
1. Good Hope Intersections - Niobium and Phosphorus Weighted
Averages
|
Drill
Hole
|
From
(m)
|
To
(m)
|
Width*
(m)
|
Nb2O5
(%)
|
P2O5
(%)
|
Description
|
|
PGH-18-01
|
15.64
|
19.75
|
4.11
|
0.174
|
2.71
|
CRBT>SYE
CLASTS
|
|
PGH-18-01
|
65.93
|
81.25
|
15.32
|
0.131
|
2.84
|
CRBT
|
|
including
|
74.88
|
78
|
3.12
|
0.224
|
3.59
|
|
|
PGH-18-01
|
170.4
|
171.36
|
0.96
|
0.356
|
3.4
|
CRBT
|
|
PGH-18-01
|
198
|
212.72
|
14.72
|
0.126
|
2.22
|
MIX CRBT &
BX
|
|
including
|
199
|
200.01
|
1.01
|
0.543
|
4.61
|
CRBT
|
|
PGH-18-01
|
227.18
|
278.3
|
51.12
|
0.123
|
1.81
|
MIX CRBT &
BX
|
|
including
|
242.5
|
247.3
|
4.8
|
0.264
|
3.99
|
CRBT>SYE
CLASTS
|
|
which
includes
|
243.49
|
244.44
|
0.95
|
0.531
|
6.27
|
CRBT
|
|
and
|
273.92
|
278.3
|
4.38
|
0.365
|
4.70
|
CRBT
|
|
which
includes
|
277.15
|
278.3
|
1.15
|
0.665
|
3.2
|
|
|
PGH-18-01
|
295.9
|
298.44
|
2.54
|
0.400
|
2.71
|
MIX CRBT &
BX
|
|
including
|
295.9
|
296.7
|
0.8
|
0.637
|
4.5
|
|
|
PGH-18-01
|
308.2
|
374.02
|
65.82
|
0.170
|
2.11
|
MIXED CRBT &
BX
|
|
including
|
309.35
|
355.05
|
45.7
|
0.198
|
2.57
|
CRBT from
313.49-340.9m
|
|
which
includes
|
351.13
|
354.57
|
3.44
|
0.424
|
3.48
|
|
|
which
includes
|
351.13
|
352.09
|
0.96
|
0.852
|
6.11
|
BX w/ 40% CRBT
VEINING
|
|
and
|
362.8
|
366.58
|
3.78
|
0.392
|
3.05
|
BX
|
|
which
includes
|
362.8
|
364.77
|
1.97
|
0.662
|
4.60
|
|
|
|
|
|
|
|
|
|
|
PGH-18-02
|
29.5
|
30.7
|
1.2
|
0.534
|
2.15
|
CRBT
|
|
PGH-18-02
|
38.75
|
48.25
|
9.5
|
0.238
|
2.06
|
BX
|
|
including
|
39.25
|
42
|
2.75
|
0.404
|
2.35
|
BX
|
|
which
includes
|
41
|
42
|
1.0
|
0.572
|
2.05
|
CRBT-BX
|
|
PGH-18-02
|
89.15
|
89.8
|
0.65
|
0.351
|
6.93
|
CRBT
|
|
PGH-18-02
|
146
|
150.2
|
4.2
|
0.210
|
4.80
|
CRBT/SYE-BX
|
|
PGH-18-02
|
155.45
|
157.3
|
1.85
|
0.390
|
1.96
|
CRBT/BX
|
|
including
|
156.35
|
157.3
|
0.95
|
0.512
|
3.06
|
CRBT
|
|
PGH-18-02
|
202.68
|
203.43
|
0.75
|
0.362
|
2.4
|
|
|
PGH-18-02
|
257.8
|
270.77
|
12.97
|
0.093
|
4.11
|
CRBT
|
|
|
|
|
|
|
|
|
|
PGH-18-03B
|
22
|
23.8
|
1.8
|
0.246
|
2.32
|
CRBT
|
|
PGH-18-03B
|
52.45
|
62.08
|
9.63
|
0.117
|
2.38
|
CRBT
|
|
PGH-18-03B
|
187.24
|
196
|
8.76
|
0.219
|
1.91
|
CRBT
|
|
PGH-18-03B
|
218.86
|
223.3
|
4.44
|
0.381
|
2.74
|
CRBT w/ BX at
end
|
|
including
|
221
|
222
|
1.00
|
0.807
|
5.28
|
CRBT
|
|
PGH-18-03B
|
381.49
|
382.12
|
0.63
|
0.597
|
2.66
|
CRBT/BX
|
|
PGH-18-03B
|
411
|
418.5
|
7.5
|
0.229
|
2.75
|
CRBT
|
|
PGH-18-03B
|
470.75
|
477.04
|
6.29
|
0.095
|
0.54
|
CRBT
|
|
|
|
|
|
|
|
|
|
PGH-18-04
|
216.71
|
222.65
|
5.94
|
0.096
|
2.52
|
CRBT
|
|
PGH-18-04
|
435
|
436
|
1.00
|
0.682
|
3.86
|
CRBT-BX
|
|
PGH-18-04
|
489.34
|
621.7
|
132.36
|
0.119
|
1.71
|
MIXED
|
|
including
|
493.18
|
508.4
|
15.22
|
0.236
|
3.18
|
CRBT/SYE-BX
|
|
and
|
537.75
|
555.19
|
17.44
|
0.308
|
3.20
|
CRBT
|
|
which
includes
|
537.75
|
540.75
|
3.00
|
0.769
|
5.87
|
CRBT
|
|
and
includes
|
548.25
|
549.75
|
1.50
|
0.678
|
7.27
|
CRBT
|
|
and
|
563.85
|
564.86
|
1.01
|
0.538
|
5.92
|
CRBT
|
|
|
|
|
|
|
|
|
|
PGH-18-05
|
38.8
|
40.3
|
1.5
|
0.482
|
4.28
|
CRBT
|
|
|
|
|
|
|
|
|
|
PGH-18-06
|
25.9
|
30.1
|
4.2
|
0.145
|
2.61
|
CRBT
|
|
PGH-18-06
|
344.54
|
345.98
|
1.44
|
0.434
|
3.04
|
SYE-BX
|
|
PGH-18-06
|
354.18
|
447.26
|
93.08
|
0.190
|
2.04
|
CRBT w/ minor SYE
&
DIAB
|
|
including
|
355.22
|
357.09
|
1.87
|
0.529
|
3.75
|
CRBT
|
|
and
|
382.94
|
402.67
|
19.73
|
0.365
|
2.86
|
CRBT
|
|
which
includes
|
382.94
|
384.04
|
1.1
|
0.950
|
6.20
|
CRBT
|
|
and
|
414.38
|
441.14
|
26.76
|
0.259
|
2.94
|
CRBT
|
|
which
includes
|
435.66
|
437.78
|
2.12
|
0.846
|
4.71
|
CRBT
|
|
|
|
|
|
|
|
|
|
PGH-18-07
|
202.22
|
203.61
|
1.39
|
0.700
|
3.94
|
CRBT
BX
|
|
PGH-18-07
|
226
|
232.7
|
6.7
|
0.104
|
2.96
|
CRBT/SYE-BX
|
|
PGH-18-07
|
265.95
|
289
|
23.05
|
0.111
|
2.67
|
CRBT/SYE-BX
|
|
including
|
275.8
|
280.3
|
4.5
|
0.258
|
1.20
|
CRBT-BX
|
|
PGH-18-07
|
468.15
|
474.37
|
6.22
|
0.103
|
1.70
|
CRBT
|
|
PGH-18-07
|
573.14
|
586.42
|
13.28
|
0.300
|
2.75
|
CBRT/SYE-BX
|
|
including
|
580.72
|
584.95
|
4.23
|
0.483
|
2.72
|
SYE-BX
|
|
which
includes
|
583.46
|
584.95
|
1.49
|
0.885
|
4.59
|
SYE-BX
|
|
PGH-18-07
|
608
|
653.02
|
45.02
|
0.093
|
2.01
|
CRBT/SYE-BX
|
|
including
|
646
|
648.57
|
2.57
|
0.583
|
4.67
|
CRBT/SYE-BX
|
|
which
includes
|
646
|
647.3
|
1.3
|
0.888
|
6.14
|
CRBT
|
|
|
|
|
|
|
|
|
|
PGH-18-08
|
60
|
72
|
12
|
0.097
|
1.29
|
SYE-BX
|
|
PGH-18-08
|
89.67
|
99.57
|
9.9
|
0.118
|
2.04
|
CRBT/SYE
|
|
PGH-18-08
|
174
|
183
|
9
|
0.124
|
3.23
|
CRBT
|
|
PGH-18-08
|
290.76
|
338
|
47.24
|
0.094
|
1.62
|
CRBT/SYE-BX
|
|
including
|
328
|
335
|
7
|
0.238
|
2.81
|
CRBT
|
|
which
includes
|
328
|
329
|
1
|
0.692
|
5.39
|
CRBT
|
|
PGH-18-08
|
346.56
|
347.09
|
0.53
|
0.614
|
4.95
|
CRBT
|
|
including
|
376
|
380.24
|
4.24
|
0.201
|
2.02
|
CRBT/SYE-BX
|
|
|
|
|
|
|
|
|
|
PGH-18-09
|
141
|
145.9
|
4.9
|
0.143
|
3.43
|
CRBT-BX
|
|
PGH-18-09
|
159.48
|
186
|
26.52
|
0.095
|
1.45
|
CRBT/SYE-BX
|
|
including
|
159.48
|
160.38
|
0.9
|
0.398
|
0.54
|
CRBT
|
|
and
|
169.72
|
171.63
|
1.91
|
0.289
|
6.09
|
CRBT/SYE-BX
|
|
PGH-18-09
|
201.08
|
204
|
2.92
|
0.113
|
1.89
|
MD
|
|
PGH-18-09
|
216.5
|
217.08
|
0.58
|
0.579
|
6.39
|
CRBT-BX
|
|
PGH-18-09
|
223.63
|
224.03
|
0.40
|
0.867
|
3.34
|
CRBT
|
|
PGH-18-09
|
249.4
|
254
|
4.6
|
0.148
|
3.19
|
CRBT-BX
|
|
PGH-18-09
|
292.81
|
297.35
|
4.54
|
0.171
|
2.08
|
CRBT
|
|
including
|
294.95
|
295.45
|
0.5
|
0.485
|
4.16
|
CRBT
|
|
PGH-18-09
|
368.55
|
371.94
|
3.39
|
0.176
|
3.08
|
CRBT/SYE-BX
|
|
PGH-18-09
|
375.36
|
378.2
|
2.84
|
0.137
|
1.93
|
CRBT
|
|
PGH-18-09
|
434.5
|
437.4
|
2.9
|
0.159
|
2.47
|
CRBT
|
|
PGH-18-09
|
446.17
|
459.65
|
13.48
|
0.165
|
2.81
|
CRBT
|
|
PGH-18-09
|
488
|
492.96
|
4.96
|
0.180
|
3.15
|
CRBT
|
|
|
|
|
|
|
|
|
|
PGH-18-10A
|
161.87
|
162.48
|
0.61
|
0.414
|
4.86
|
CRBT
|
|
PGH-18-10A
|
168.72
|
168.94
|
0.22
|
0.401
|
2.18
|
CRBT
|
|
PGH-18-10A
|
177.5
|
178.91
|
1.41
|
0.183
|
0.84
|
CRBT/SYE-BX
|
|
PGH-18-10A
|
252
|
254.13
|
2.13
|
0.319
|
3.26
|
CRBT/SYE-BX
|
|
PGH-18-10A
|
265.95
|
269.55
|
3.6
|