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Planet Drills Large Multi-Structure Sulfide Mineralized System at Golden Loon - Southern British Columbia; Near Surface Mineralization Drilled Over 700 Metre Strike Length
(via Thenewswire.ca) November 17, 2011 - Vancouver, B.C. Planet Exploration Inc. ("Planet" or...
About this update from Planet Ventures Inc
[{"type":"text","content":"\nPlanet Drills Large Multi-Structure Sulfide Mineralized System at Golden Loon - Southern British Columbia; Near Surface Mineralization Drilled Over 700 Metre Strike Length\n\n(via Thenewswire.ca)\n\n \nNovember 17, 2011 - Vancouver, B.C. Planet Exploration Inc. (\"Planet\" or the \"Company\") (TSX-V: PXI) is pleased to announce the first results from its Phase 1 diamond drilling at the Golden Loon property near Kamloops, southern British Columbia. To date, 14 of 16 planned drill holes totaling 2200 metres have been completed. 13 of 14 holes have intersected sulfide mineralization associated with intense silica alteration over drill-indicated widths of between 0.49 and 34.0 metres. Each drill hole intersected at least one and as many as seven siliceous sulfide-bearing zones. All mineralized zones are interpreted to project to surface.\n\n\n \nAssay results have now been returned for the first two drill holes. These tested an historically drilled near surface gold mineralized target. Results are summarized below:\n\n\n \n\n----------------------------------------------------\n|Drill Hole|From (m)|To (m)|Interval (m)|Gold (g/t)|\n|--------------------------------------------------|\n|GL-11-001 |24.4 |44.6 |20.2 |0.78 |\n|--------------------------------------------------|\n|including |27.4 |40.3 |12.9 |1.01 |\n|--------------------------------------------------|\n|GL-11-002 |21.2 |28.6 |7.35 |1.75 |\n|--------------------------------------------------|\n|including |26.4 |28.6 |2.15 |3.15 |\n----------------------------------------------------\n\n\n \nPhase 1 drilling has now intersected visually similar sulfide mineralized and silicified zones extending the system over a strike length of approximately 700 metres.\n\n\n \nThe Company expects to begin a Phase 2 winter drill campaign in early 2012, aimed at further extending the strike of all zones, and testing additional geochemical and geophysical anomalies identified during the summer 2011 exploration work.\n\n\n \nPlanet is focused on properties with high development potential. The Golden Loon is:\n\n\n \n-Road-accessible and serviced with a power line\n\n\n \n-Located less than 1 kilometre from Highway 5, a paved major all-weather transportation corridor\n\n\n \n-Located less than 2 kilometres from an active rail line, and\n\n\n \n-All mineralized targets are present from surfa...