Plato Gold Corp. is a junior Canadian exploration company that is focused on prospective properties in recognized gold mining districts around the world. The company is listed on the TSX Venture Exchange under the symbol "PGC". Plato currently holds a portfolio of properties in significant gold mining camps in Northern Ontario, Northern Quebec, and Santa Cruz, Argentina. Plato provides an attractive platform of prospective properties with qualified people in an established and active mining area.
At its founding, Plato holds a 100% interest in the Silver Fox Project-Guibord, Harker, Holloway and Marriott properties located within 50 kilometres of each other along the DPFZ in northeastern Ontario, in close proximity to past and currently producing gold mines.
In 2004, Watts, Griffis and McOuat Limited was retained by Plato to conduct an independent technical review of the Properties and their potential. The review and report were carried out and prepared in compliance with the standards of NI 43-101 in terms of structure and content.
There are three principal zones of gold mineralization known on the Guibord property: the North zone; the South zone; and, the Shear-Quartz Vein zone . Drilling on the North zone, initially identified in 1964, has returned values of 8.22 grams of gold per tonne over 2.13 metres, including 13.7 grams of gold per tonne over 1.22 metres as well as zones containing up to 40% sulphide. Drilling on the South zone has returned values of 0.59 grams of gold per tonne over 30.5 metres including 1.34 grams of gold per tonne over 1.52 metres from 10.3 metres to 40.8 metres in depth and 0.66 grams of gold per tonne over 23 metres including 1.77 grams of gold per tonne over 4.97 metres. In the Shear zone, four anomalous gold values occur between 210 metres and 221 metres. The highest value returned was 1.1 gram s of gold per tonne over 1.52 metres. The Quartz Vein zone which may be a continuation of the Shear zone returned 15.84 grams of gold per tonne over 2.8 metres.
The main target of past drilling on the Marriott property was a felsic volcanic chert horizon shown to extend across the entire property for a distance of over six kilometers. The most significant gold values were obtained in three adjacent holes that returned values of 2.47 grams of gold per tonne over 1.0 metre within a larger intersection of 0.41 grams of gold per tonne over 9.5 metres, 1.54 grams of gold per tonne over 0.91 metres and 0.64 grams of gold per tonne over 1.0 metre.
Almost all of the diamond drill holes completed on the Harker property (17 holes totalling 2,316.5 metres) were drilled to test for mineralized structures in the intrusive striking parallel to the north-south trending contact between the intrusive and the volcanic regimes. All gold values discovered to date have been associated with syenite within the Dale Intrusion that dominates the eastern side of the property. Of the 17 diamond drill holes that have been drilled, 12 were almost entirely in the syenite. Thirty diamond drill core samples taken from the holes returned assays exceeding 1.0 gram of gold per tonne with the highest gold value was from drill hole NH-85-1 where a one centimetre wide fracture in syenite containing visible gold assayed 14.6 grams of gold per tonne over 0.43 metres.
On the Holloway property two main deformation/alteration zones have been sampled by diamond drilling. These two zones are known as the DPF Horizon and the South Horizon. The DFP Horizon extends along the northern margin of the property near the contact of the Kinojevis mafic volcanics and the metasediments and the South Branch of the DPFZ. This structure may be a first order DPFZ fault or a second order splay that may be the Ghostmount Fault, which hosts the Mattawasaga Zone at the Holt-McDermott mine to the west-southwest of the property. The South Horizon was initially tested in 1987 at which time a 2.94 metre interval returned a value of 0.99 grams of gold per tonne and two other samples returned 0.74 grams of gold per tonne over 0.83 metres and 0.71 grams of gold per tonne over 1.28 metres.A number of other alteration zones have been cut by drilling on the Holloway property. One of these zones was cut in hole H-85-1 where a narrow section of strong silicification returned a value of 56.2 grams per tonne over 0.8 metres. A section of rubble in hole H-86-6 returned a value of 64.8 grams of gold per tonne over 0.42 metres and a section of rubbled quartz ankerite vein in hole NH-94-5 returned a value of 52.4 grams of gold per tonne over 0.3 metres.
Branches or subsidiary structures of the DPFZ are known to cross all of the Properties and the Properties are underlain by the same favourable geological environment as the current producers, past producers and other advanced prospects known in the area. Diamond drilling by past operators has intersected gold values on all four of Plato's properties; therefore, Plato believes all of the Properties have significant potential to host gold mineralization along previously unrecognized fault branches or at depths where known significantly mineralized zones cross on to Plato ground.
Plato’s 2005 diamond drill program on the property consisted of 15 drillholes aggregating 3,192m of drilling. The drill program targeted the Quartz-Carbonate Vein Zone (QCVZ) and the South Zone and several IP anomalies defined by IP surveys completed by Plato in 1997.
The 2005 program was encouraging and successful in expanding and improving our understanding of both the QCVZ and the South Zones. The program showed that the QCVZ contains significant widths of semi-continuous quartz-carbonate vein complexes and sulphide mineralization with encouraging gold values. The zone can be reasonably projected over a strike length in excess of 450m and likely in excess of 800m and true widths are up to nearly 70 m. Drillholes GP-01 and GP-12 were two of the best holes in the program. GP-01 returned an average grade of 2.74 g Au/t from 178.0 to 183.0m over 5 m including one, 1 metre sample grading 6.6 g Au/t and two additional samples grading more than 2.6 g Au/t. Drillhole GP-12 drilled 150 m east of GP-01 cut the same zone. The 5 metre interval from 137.0 to 142.0 m averaged 2.40 g Au/t and contained a best sample of 5.25 g Au/t. True widths for these intersections are likely about 85% of intersection lengths.
The South Zone is now viewed as a composite zone consisting of a number of distinct lenses and zones of mineralization that are situated in the iron-rich basalts that form the hanging wall above the basalt-ultramafic contact. There appears to be at least three main zones and lenses of mineralization that strike and dip roughly parallel to the volcanic stratigraphy, the basalt-ultramafic contact and syenite dykes. The best 2005 intersection for the South Zone was in GP-01. Immediately under the overburden-bedrock interface GP-01 cut a wide (26.6m) intersection of low grade mineralization. The highest grading sample in this interval returned an average grade of 1.87 g Au/t. The entire 26.6m interval had a composite grade of 0.77 g Au/t. Again, this zone is the same one as intersected historical drillholes GN-12 and GN-13 and its configuration is not well understood. Consequently intersections widths may be considerably wider than true widths.
Plato believes that its Guibord property is well situated. An adjacent property, Hislop East hosts the former gold producer Kelore Mine. The Black Fox project on the site of the former Glimmer gold mine is located on strike 5 km northwest of Plato’s property. The Ross Mine which produced over one million ounces of gold is located 3 km south of Plato’s Guibord Property.
In 2006, Plato Gold Corp. signed an options agreement with Globex Mining Enterprises Inc. (TSX: GMX) to acquire a 100 percent interest in the Nordeau East and Nordeau West gold deposits and adjoining claims in Vauquelin Township, Quebec. The Nordeau Gold deposits are located on two claim blocks. The eastern block consists of 16 claims totalling 243.6 hectares and the western block consist of 5 claims totalling 54.4 hectares.
In September 2006, a NI 43-101report was prepared by MRB & Associates (“MRB”) to provide Plato with an updated independent technical review of the Nordeau Bateman properties.
An updated report was filed in 2007 which incorporates results of the completed 7,356 metres diamond drilling program. The drilling program was initiated on October 2006 and was completed in March 2007. The drilling program was carried out under the supervision of Mr. Peter Karelse, P.Eng (Geo.) under the supervision of MRB Associates, a Val d’Or based geological consulting firm.
A significant result came from hole PG06-07 which intersected 7.85 g/t Au over a core length of 10 metres. The results from PG06-07 in conjunction with the results from holes PG06-01 (4.76 g/t Au over 2.4 metres) and historic holes W90-09 and W90-09B within the identified Main zone suggest that the exploration potential of the Main zone at the Nordeau West project area remains positive.
The drilling program has identified five mineralized zones on the Nordeau West project area. The results from both historical and current drilling which influence the Main zone indicate a strike length of 400 metres, a down-dip extension of 750 metres. The Main zone remains open along strike and down dip.
In the summer of 2007, Plato Gold Corp. reported that it had acquired 147 new claims strategically located adjacent to a number of historic gold deposits and past producing mines in the Val d’Or gold camp in Northern Quebec.
All the new claims are within or border on the township of Vauquelin. The claims are referenced in hectares (“ha”) and include the following properties:
Vauquelin - 17 claims (272 ha), 100% owned
Vauquelin Pershing - 37 claims (592.0 ha), 100% owned
Vauquelin Horseshoe - 54 claims (860.5 ha), 100% owned
Pershing Denain - 39 claims (624.0 ha), 100% owned
The 147 claims represent 2,348.5 ha of new exploration properties in the Plato property portfolio. Plato now holds 191 claims (3,009.4 ha) in the Val d’Or gold camp in the south-eastern end of the Achean Abitibi Greenstone Belt in the Val d’Or, Quebec region.
In September 2007, Plato Gold Corp. entered into a joint venture agreement with Dr. Paul Lhotka to acquire, through staking, 29,904 hectares known as the Lolita Property in the province of Santa Cruz in south-central Argentina.
The Lolita Property is located in a geological province hosted by Jurassic-aged rocks of the Deseado Massif. Most of the Lolita Property is mapped as being underlain by the Bajo Pobre and Chon Aike Formations of the Jurassic age. The Chon Aike formation is a felsic volcanic unit of ash-flow tuffs which is host to most of the known precious metal occurrences and mines in the Deseado Massif. Bajo Pobre is a slightly older formation comprised mainly of intermediate to mafic volcanics with lesser sedimentary/volcanic intercalations. These two formations overlie the Roca Blanca Formation of the earliest Jurassic age. The Roca Blanca Formation also hosts precious and base metal mineralization on the property adjoining the Lolita Property to the southeast.
Compilation indicates that vein systems and structures on the adjoining properties generally trend north-westerly with a lesser trend oriented north-easterly. North-westerly trending structures are present in both geological maps and satellite images of the Lolita area. Plato believes these structures are prospective for precious and base metal mineralization similar to those found on the adjoining properties and intends to launch a program of surface work including geological mapping and prospecting.
In the past few years, the Province of Santa Cruz in Argentina has emerged as one of the most successful jurisdictions for mineral exploration in South America. It has attracted interest from junior and senior exploration companies worldwide resulting in the construction of four new precious metal mines.
Santa Cruz is host to three producing precious metal mines with a fourth under construction. Development in this mining district is relatively new and has been expanding over the past ten years. The area is largely uninhabited, semi-arid, treeless and has low topographic relief of plains and low hills. The climate is cool and dry. Access to the Lolita Property is by gravel provincial highway that runs adjacent to the Lolita Property that is also traversed by numerous local dirt roads.
Plato holds a 75% interest in the joint venture with Dr. Lhotka holding the remaining 25%. Dr. Paul Lhotka was instrumental in the discovery of the 300 million ounce silver-lead deposit at Navidad, Argentina.
In December 2007, Plato added to its holdings in Northern Ontario with the purchase of a 100 percent interest in 24 claims in the Harker-Garrison Townships, located near Plato’s current claims in the Timmins – Kirkland Lake area in the western portion of the prolific Abitibi Greenstone Belt in northeastern Ontario.
All the new claims totaling 384 hectares are within the townships of Harker and Garrison. By the end of 2007 Plato holds 154 claims with an area of 2,473.13 hectares in the Timmins - Kirkland Lake area.
In January 2008, Plato continued to add to their holdings in Northern Quebec with the acquisition through staking of 58 new claims strategically located adjacent to a number of historic gold deposits and past producing mines in the Val d’Or gold camp in Northern Quebec.
The 58 new claims (1,841.69 ha) known as the Hop O’My Thumb site are within the township of Vauquelin and are 100% owned by Plato. As a result of the new claims, Plato holds at the start of 2008, 247 claims (4,819.09 ha) in the Val d’Or gold camp in the south-eastern end of the Achean Abitibi Greenstone Belt in the Val d’Or, Quebec region.
This is a continuation of Plato’s strategy is to acquire land positions adjacent to historic gold deposits, past producers and/or currently operating gold mines. Areas are selected near world class gold camps with superior infrastructure in place.
In February 2008, Plato entered into an option agreement to acquire a 100 percent interest in the “Once Upon a Time” property in Cadillac & Bousquet Townships, Quebec.
The “Once Upon a Time” property contains 19 claims covering 610.31 ha in the Cadillac Mining Camp.
The attractiveness of the claims is their proximity to the Lapa project and to the La Ronde Mine, both belonging to Agnico Eagle Mines Ltd. Exploration in this part of the Cadillac Mining Camp (South part) was neglected by mining companies due to the low gold price for many years.
This property is located in one of the most productive gold mining camps in Canada, the Cadillac Mining Camp, which has reserves exceeding 15 million ounces of gold. Gold is associated with the Larder Lake-Cadillac Fault. The well-known gold mine, La Ronde, owned by Agnico-Eagle Mines Ltd., is the biggest gold mine in Canada, with a resource of 5.3 million ounces of gold. The La Ronde Mine is located approximately 3.2km north and north-west of these newly acquired claims.
Another significant project, LAPA, also owned by Agnico-Eagle Mines Ltd., has a resource estimated at 1.2 million ounces of gold. This project is located 2.8km north-east of the “Once Upon a Time” property.