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Planet Drills 80.1 Metres of 1.00 G/T Gold Including 23.7 Metres of 2.15 G/T Gold at Golden Loon Project, Southern British Columbia
(via Thenewswire.ca) March 2, 2012 - Vancouver, B.C. Planet Exploration Inc. ("Planet" or t...
About this update from Planet Ventures Inc
[{"type":"text","content":"\nPlanet Drills 80.1 Metres of 1.00 G/T Gold Including 23.7 Metres of 2.15 G/T Gold at Golden Loon Project, Southern British Columbia\n\n(via Thenewswire.ca)\n\n \nMarch 2, 2012 - Vancouver, B.C. Planet Exploration Inc.\n(\"Planet\" or the \"Company\") (TSX-V: PXI) is\npleased to announce it has intersected 80.1 metres of 1.00 g/t gold\nincluding 23.7 metres of 2.15 g/t gold in drill hole GL-12-017, the\nfirst hole of its Phase 2 diamond drill program at the Golden Loon\nproject near Kamloops, southern British Columbia. The mineralized\nzone is present from surface, where historic bedrock trenches have\nreturned comparable results. Drill results are summarized in the\ntable below.\n\n\n \n\n ---------------------------------------------------\n |GL-12-017 |From (m)|To |Interval (m)|Gold (g/t)|\n | | |(m) | | |\n |-------------------------------------------------|\n |Total Zone|33.7 |113.7|80.1 |1.00 |\n |-------------------------------------------------|\n |including |90.0 |113.7|23.7 |2.15 |\n ---------------------------------------------------\n\n\n \nMineralization is largely continuous with the exception of two less\nthan\n\n\n \n4 metre sections of minor post mineral faulting which are not\nmineralized.\n\n\n \nGL-12-017 intersected a thickened mineralized zone that plunges very\nshallowly within a property-scale, silicified and mineralized\nstructure. The zone is believed to plunge at only 15 to 20 degrees,\nmeaning the reported gold mineralization is all within 60 vertical\nmetres of the surface.\n\n\n \nAs drilled, the zone extends for at least 170 metres down-plunge from\nsurface. Follow-up drilling and three-dimensional modeling are\nunderway to define its true thickness and width. Drill holes\nGL-11-001 to 006, completed during Phase 1 drilling in fall 2011 and\npreviously reported (see Planet news release of January 10, 2012), are\ninterpreted to have intersected the upper portions of this zone, which\nhas now been extended.\n\n\n \nAt least three of these thickened, shallowly-plunging zones are\ninterpreted to have been intersected by the sixteen-hole, 700 metre\nstriking drill fence completed during Phase 1 drilling. This tested a\nsmall portion of the eight-square kilometre gold-in-bedrock and soil\nsystem now defined at the Golden Loon project. All significant\ngold-in-soil anomalies drill-tested to date have bee...