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Plato Gold Signs Option Agreements to Acquire Good Hope Niobium Project
TORONTO, ONTARIO--(Marketwired - May 30, 2017) - Plato Gold Corp. (TSX VENTURE:PGC) ("Plato" or the "Company"), an exploration company with a portfolio of prope
About this update from Plato Gold Corp.
[{"type":"text","content":"TORONTO, ONTARIO--(Marketwired - May 30, 2017) - Plato Gold Corp. (TSX VENTURE:PGC) (\"Plato\" or the \"Company\"), an exploration company with a portfolio of properties in Northern Ontario and Santa Cruz, Argentina is pleased to announce the signing of two Option Agreements, KL226 Option Agreement (\"KL226\") and KL37 Option Agreement (\"KL37\") to acquire 100% interest in the Good Hope Niobium Project in Killala Lake area, near Marathon Ontario. The acquisition is subject to approval by the TSX Venture Exchange. \"I am very pleased to have Plato and its shareholders involved in the Good Hope Niobium Project. Niobium is classified as a strategic metal' by the U.S. government and is a metal whose various uses should continue to grow,\" said Anthony Cohen, President and CEO. \"I am particularly pleased with the exploration team that Plato has put together to work on this project. Plato looks forward to exploring and developing the Niobium discovery by award winning prospector Rudy Wahl. The niobium discovery is located near the mining centre of Marathon, Ontario with all of its excellent mining infrastructure.\" About the Good Hope Niobium Project The Good Hope Niobium Property consists of a total of 19 claims, 263 claim units and 4208 hectares in Killala Lake Area and Cairngorm Lake Area Townships, northwest of Marathon, Ontario. The Good Hope Property is located approximately 45 kilometers northwest of Marathon and 28 km north of Highway 17. The property is readily accessible from Trans-Canada Highway 17 and Dead Horse Road. The Property is also in close proximity to the Hemlo gold mining camp. The regional geology around the Good Hope Property consists of alkaline and carbonatite intrusions formed during Midcontinental rifting within the Trans-Superior Tectonic zone. The Good Hope Property forms a doughnut around the Prairie Lake Complex. The Prairie Lake Complex is composed of carbonatite, ijolite and potassic nepheline syenite. The most common rock types on the Good Hope Property are carbonatite, syenite breccia and ijolite. The Good Hope Property hosts Niobium mineralization in pyrochlore. The Niobium mineralization differs from that in Prairie Lake Complex in that it is low in Th and U contents. The discovery of Niobium mineralization at Good Hope was made by Rudy Wahl in 2010 when he identified 1.63 % Nb2O5 in a small out...