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Planet Exploration Inc. Announces New Gold-Silver Discovery at Golden Loon
(via Thenewswire.ca) July 26, 2012 - Vancouver, B.C. Planet Exploration Inc. ("Planet" or t...
About this update from Planet Ventures Inc
[{"type":"text","content":"\nPlanet Exploration Inc. Announces New Gold-Silver Discovery at Golden Loon\n\n(via Thenewswire.ca)\n\n \nJuly 26, 2012 - Vancouver, B.C. Planet Exploration Inc. (\"Planet\" or the \"Company\") (TSX-V: PXI) is pleased to announce the discovery of a new gold and silver mineralized trend at the Golden Loon project with grab samples returning up to 11.4 g/t gold and 90 g/t silver. The new discovery occurs in a dense network of high-angle sulfide mineralized quartz veins that have been mapped and sampled across two kilometres of strike, and 200 metres of width. The vein network was historically mapped by Teck Corp. (NYE: TCK, \"Teck\") over a limited area of partial bedrock exposure, but was never assayed for precious metals.\n\n\n \nAfter discovery of visible gold-silver in drill core (see Planet news release of April 5, 2012), the Company expanded its field exploration program to find similar mineralized occurrences in new areas of the property, in advance of further drilling. An historic report by Teck described similar quartz-sulfide veining to that drilled by Planet in a new area on the western half of the property. Follow-up work confirms that the area mapped by Teck contains anomalous gold and silver mineralization, with mapping along strike to the southwest of this occurrence discovering multi-gram gold mineralization with significant silver. Highlighted results are shown in the table and map below.\n\n\n \n\n ---------------------------------\n |Sample |Gold (g/t)|Silver (g/t)|\n |-------------------------------|\n |1604608|11.40 |90 |\n |-------------------------------|\n |1605551|9.64 |37 |\n |-------------------------------|\n |1605552|1.75 |8 |\n |-------------------------------|\n |1605577|7.98 |41 |\n |-------------------------------|\n |1605579|9.30 |51 |\n ---------------------------------\n\n\n \nTable 1: Highlighted bedrock and proximal float grab sample assays from ongoing gold exploration\n\n\n \nGold and silver mineralization occur with pyrite, galena, and chalcopyrite in parallel quartz veins ranging from centimetres to approximately half a metre in thickness, generally spaced at 0.5 to 6.0 metres. While individual veins generally strike north-south, the vein trend has a southwest to northeast orientation, defining a silicified and sulfide mineralized structurally dilatant zone that has been mapped through in...