Plato Gold provides update on the Lolita Project, in Santa Cruz, Argentina and increases its interest to 95%
TORONTO, Sept. 09, 2020 (GLOBE NEWSWIRE) -- Plato Gold Corp. (TSX-V: PGC; Frankfurt: 4Y7 or WKN: A0M2QX) (“Plato” or the “Company”) is pleased to
provide an update on their Lolita project in Santa Cruz, Argentina and Plato increases its interest to 95% in accordance with the joint venture agreement.
Previously Plato has conducted three phases of prospecting, geological mapping and surface rock samples that resulted in the discovery of previously unknown hydrothermal structures with little or no prior sampling activity. These zones were named Espalda, Colita, Panza, and Corazon. Both west-northwest and northwest-trending structures are important on the property.
Geochemical results of surface rock samples have returned highly anomalous values for antimony, arsenic and mercury; all traditional pathfinder elements for precious metal deposits. Rock samples from Lolita contain the following maximum trace element values: arsenic >10,000 parts per million (ppm); antimony >2,000 ppm; and mercury of 106,548 parts per billion at Lolita. In addition, strong molybdenum (maximum of 677 ppm) and thallium (maximum of 613 ppm) values were encountered in a few samples. These two elements are also frequently associated with shallow levels of epithermal, precious-metal systems. Results for gold and silver are generally below the levels of detection which is common for the upper parts of these systems.
At the Panza and Colita areas a ground magnetic survey defined previously unknown major, northeast-trending, cross-structure has been defined and is associated with the northwest-trending structures known to host hydrothermal structures and strongly anomalous trace elements often associated with gold and silver deposits. These northeast-trending structures are frequently associated with dilatent zones that promote the formation of mineralized quartz veins.
At the Corazon area a 1.5 km diameter magnetic high is associated with the northwest-trending structures known to host hydrothermal structures and strongly anomalous arsenic values. Within this high are strong, linear, northwest-trending magnetic features. Many of the northwest trending magnetic linears lie in a valley with little rock exposure parallel to, and immediately northeast of, the known hydrothermal structures. These interpreted structures are potentially mineralized.