Plato Gold Announces Results of 2-Hole Drill Program on the Marriott Gold Property, Matheson, Ontario

Toronto, ON, Jan. 25, 2024 (GLOBE NEWSWIRE) -- Plato Gold Corp. (TSX-V: PGC) (OTCQB: NIOVF) (Frankfurt: 4Y7 or WKN: A0M2QX) (“Plato” or the “Company”) is pleased to announce the results of its 2023 winter drill program totalling 419 m and 2 drill holes on the Marriott Gold Property, Matheson, Northeastern Ontario. The Marriott Property is located within the Abitibi Greenstone Belt gold mining camp. Plato’s 2023 drill holes are located 11 km east of Agnico Eagle’s Holt gold mining complex.

The Marriott drill core displays typical characteristics of Abitibi gold deposits with elevated sulphides and base metals contents:

• Disseminated sulphides up to 35% in blue basaltic breccia (Figure 1)
• Disseminated sulphides up to 2% in massive basalt and brecciated basalt
• Up to 7% pyrite and coarse-grained pyrite up to 2 x 3 cm in size in brecciated basalt
• Anomalous copper up to 177 ppm Cu, in brecciated basalt, sample 889849, drill hole PG-23-1
• Anomalous nickel up to 116 ppm Ni, in gabbro, sample 889824, drill hole PG-23-1
• Anomalous zinc up to 531 ppm Zn, in massive basalt, sample 889944, drill hole PG-23-2
• Anomalous cobalt up to 57 ppm Co, in gabbro, sample 88901, drill hole PG-23-2
  
  

Previous drill programs have intersected gold in drill core. In 1988, a ten-hole, 1989 m diamond drill program was undertaken on the property by Dickenson Mines Ltd and New Cinch Uranium Mines Ltd, M88 series (Figure 6). The best assay obtained was 2.47 g Au/t over 1.0 m (100.4-101.4 m) within a zone of lower grade assays in hole M88-09 (MNDM assessment report 32D12SE0087).

In 1995, Hemlo Gold Corp drilled nine diamond drill holes numbered GH95-101 to 107, 111 and 114 with a total length of 2867 m (Figure 6). The highest-grade result from the drill program was intersected in an IP anomaly in hole GH95-105. The mineralization in GH95-105 occurs in sheared and brecciated, weakly to moderately silicified, sericitized and albitized mafic volcanic unit which graded 1.71 g/t Au over 2 m (57.0-59.0 m) (MNDM assessment report 32D12SE0078).

In 2005, Plato conducted a diamond drill program on its Marriott Property. The drilling comprised 11 drill holes totalling 2858 m and was the MP-01 to 11 series. MP-01 returned 1.86 g Au g/t over 1.0 m from 185.3 to 186.3 m (Figure 6) (MNDM assessment report 20000001304, 2.32009). Drill hole MP-10 situated in the northwest corner of the Property adjacent to the DPFZ, returned 2.4 Au g/t over 1.0 m from 211.8 to 212.8m and 5.14 Au g/t over 1.0 m from 222.3 to 223.2m. MP-10 also cut a zone of brecciated quartz carbonate veining enveloped by strongly sericitic and strongly pyrite mineralized altered basalt from 269.1 to 274.8m.