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Planet Makes New Gold Discovery at Loon Property
Apr. 1, 2011 (TheNewswire.ca) -- April 1, 2011 - Vancouver, B.C. Planet Exploration Inc. (TS...
About this update from Planet Ventures Inc
[{"type":"text","content":"\nPlanet Makes New Gold Discovery at Loon Property\n\n Apr. 1, 2011 (TheNewswire.ca) -- April 1, 2011 - Vancouver, B.C. Planet Exploration Inc. (TSXV:PXI) (\"Planet\" or the \"Company\")(TSX-V: PXI) is pleased to announce the discovery of widespread elevated gold within a 2000+ metre long soil anomaly at the Golden Loon property. This discovery doubles the area of previously reported gold-in-soils and suggests that a broad, widely gold mineralized structural network underlies the property.Discovery of Gold at Drake Target Doubles Footprint of Gold SystemHistoric exploration defined an open-ended 2500+ metre by 1000+ metre area of largely continuous elevated copper-in-soil values east of Dum Lake, the \"Drake\" zone, which was never tested for preciousTo View Map Image, Please Copy and Paste into New Browser:http://thenewswire.ca/client_files/2011-04-01-0.pdfmetal content. A new series of 545 soil samples were collected from a 2,200 metre by 300 to 1000 metre wide grid over the core of the Drake zone. Multiple gold-in-soil targets have now been identified, with soil values returning up to 565 ppb (0.565 g/t) gold. These define a similar northwest and northeast trending gold-in-soil pattern as has been successfully drill tested in the \"Crane\" zone, 1 kilometre to the southwest. The newly defined gold targets in the Drake zone are open to expansion in all directions.In the Crane zone, gold-in-soil values overlie a strongly silicified, gold mineralized structural network. Historical reconnaissance drilling intersected multiple mineralized intervals including 2.46 g/t gold over 10.4 metres and 1.64 g/t gold over 14.3 metres in two separate drill holes. These occur within a broad generally 70 to 80 metre wide silicified and gold mineralized structure, and results approximate true mineralized thicknesses. The discovery of a similar gold-in-soil system in the Drake zone suggests that a widely mineralized structural network underlies both areas, defining a broad, greater than 2 square kilometre target that is open to expansion.The 2011 exploration program at Golden Loon will continue with geological mapping and geochemical sampling, and ground-based geophysics and trenching to define drill targets. The company will undertake an aggressive drill campaign on the Crane and Drake zones upon target definition.The Company also announces that...