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Plato Gold Announces Ground IP Survey Confirms Excellent Drill Targets On Lolita Property in Santa Cruz, Argentina
TORONTO, Oct. 20, 2011 /CNW/ - Plato Gold Corp. (TSX.V: PGC) ("Plato" or the "Company"), a...
About this update from Plato Gold Corp.
[{"type":"text","content":"\n\n\n\n\n\n\n\n\nTORONTO, Oct. 20, 2011 /CNW/ - Plato Gold Corp. (TSX.V: PGC) (\"Plato\" or\n the \"Company\"), a Canadian exploration company focused on prospective\n exploration properties in recognized gold mining districts in Northern\n Ontario, Northern Quebec, and Santa Cruz, Argentina, is pleased to\n announce that the results are now available for a ground IP (induced\n polarization) survey completed on the Lolita Property (see Figure 1) in\n the province of Santa Cruz, Argentina. This survey has confirmed the\n targets at the Corazon and Panza targets and indicated a new target at\n Panza. IP chargeability anomalies of strong intensity and large\n dimensions were detected at both targets.   Plato has completed\n incorporation of an Argentine subsidiary, Winnipeg Minerals S.A., and\n is planning a drilling program for late in 2011 to test the targets.\n\n\n\"I am very happy with the IP program as Plato Gold Corp. now has high\n quality drill targets which have been achieved by the time consuming,\n but very necessary preliminary work associated with a methodical,\n well-designed exploration program.  We are looking forward to the first\n drill results,\" said Anthony Cohen, President & CEO.\n\n\nAt the Panza and Colita areas gradient IP surveys were done at 100 or\n 200 metre spaced lines with readings taken every 25 metres along the\n lines. Strong chargeability anomalies were defined at both targets. At\n Panza a sharp break in both chargeability and resistivity values is\n directly coincident with the previously defined corridor of\n hydrothermal structures with strong geochemical anomalies in arsenic\n and other trace elements associated with precious metal deposits in\n Santa Cruz (Figure 2a and b). A very strong chargeability anomaly was\n detected southeast of Panza with values of over 46 milliseconds\n covering an area of greater than 600 by 1,300 metres that remains open\n towards the southwest (using >20 milliseconds to define the anomaly).\n At surface over this anomaly is mainly soil covered with occasional\n rock outcroppings that do not suggest an explanation for the anomaly so\n a line of pole-dipole IP (PDP) was run to confirm the anomaly and\n provide additional information on its dimensions and location.\n\n\nThe PDP line at Panza confirmed the chargeability anomaly forms a\n sheet-lik...