Plato Gold Announces Assay Results For Good Hope Niobium Project
For Immediate Release
Plato Gold Announces Assay Results
For Good Hope Niobium Project
Toronto, August 16, 2017 – Plato Gold Corp. (TSX -V: PGC) (“Plato” or the “Company”), an
exploration company with a portfolio of properties in Northern Ontario and S anta Cruz,
Argentina is pleased to announce the assay results from the summer prospecting, sampling and
geological mapping program on the Good Hope Niobium Property in June 2017. The Good Hope
Niobium Property consists of a total of 19 claims, 263 claim un its and 4,208 hectares in Killala
Lake Area and Cairngorm Lake Area Townships, northwest of Marathon, Ontario.
"I am pleased that our exploration program has both increased the size of the Carbonatite
footprint and, mo re importantly, the discovery of additional anomalous niobium values on the
Good Hope Niobium Project,” said Anthony J. Cohen, President & CEO of Plato Gold Corp. “I
am looking forward to our upcoming drill program."
Plato’s due diligence sampling confirmed outcrops with anomalous Niobium (Nb) and
Phosphorus (P) values and the summer mapping program identified new areas of anomalous Nb
and P. Plato’s due diligence sampling at the Discovery Pit #1 found 1.055 %Nb 2O5 and 9.25 %
P2O5. Plato will use the location of the anomalous Nb samples, ma gnetic lows and topographic
lows (e.g. swamps and lakes) to aid in drill targeting for carbonatite for the fall drill program.
The four areas of mineralization identified during this mapping program are: site #28 (claim
4256251), site #21A (claim 4246269 ), sites #22 and #25 (claim 4256252) and site #37 (claim
4256259). Although these mineralized sites were previously known, Plato’s exploration team
increased the area of the mineralized sites and found new mineralized outcrops within these sites.
Site #28 (Claim 4256251, northwestern part of property)
Plato’s due diligence sampling the Discovery Pit #1 and Trench TR -01-PL-15 confirms the
presence of high grade niobium and phosphorus mineralization:
Plato’s due diligence sampling at the Discovery Pit #1 f ound 1.055 %Nb 2O5 and 9.25 %
P2O5 (Table 1) . Plato’s pit sample contains Fe -rich calcio -carbonatite with common
calcite, ankerite, apatite and 2% pyrochlore. Sampling by Rudy Wahl of the same pit
found 1.63 %Nb 2O5 and 20.66 %P 2O5 in carbonatite. Sampling i n 2015 by MDN Inc.
found 1.60 and 1.03 % Nb2O5 in two separate grab samples in the same pit.
Plato’s due diligence grab sample from 2015 Trench TR -01-PL-15 found 1.053 % Nb 2O5
and 6.73 % P2O5 (Table 1). Plato’s grab sample contains calcio-carbonatite with cm sized
pale green apatite and 1% pyrochlore. 2015 Trench TR-01-PL-15, about 110 m southwest
of Pit #1, had continuous channel sampling by MDN Inc. with 1.205 % Nb 2O5 over 1.1
m, 0.770 % Nb 2O5 over 1.0 m and 0.468 % Nb 2O5 over 1.2 m for a weighted avera ge of
0.805 % Nb2O5 over 3.3 m in carbonatite.
Plato’s exploration team also found new outcrops of niobium mineralization. An outcrop of
syenite (or fenitized alkali granite) with ferro -carbonatite veins contains 393 ppm Nb in the
ferro-carbonatite and 186 ppm Nb in the syenite with carbonatite veins. The location of these
anomalous Nb samples can be used as an exploration pathfinder to find carbonatite intrusive
bodies at Site #28.
Table 1 Plato’s grab sample assays from claim 4256251, site #28
Sample
Number Easting Northing Location Rock Type
Nb ppm
(FUS-MS)
Nb2O5 %
(FUS-XRF) P2O5 %
1077351 519572 5432524 Trench 1 Calcio-carbonatite > 1000 1.053 6.73
1077352 519639 5432637 Pit #1 Calcio-carbonatite > 1000 1.055 9.25
1077354 519517 5432565 Check 2015
sample Magnesio-carbonatite 475 6.01
1077358 519577 5432607 new Ferro-carbonatite 393 3.18
1077359 519577 5432606 new Syenite-carbonatite 186 1.20
1077362 519617 5432623 new Fenitized alkali granite 158 0.06
Figure 1 Photo of pale green apatite and pyrochlore in calcio -carbonatite vein in boulder from Site #28.
Site #21A (Claims 4246269, 4246255 and 4256253, southwestern part of Property)
Plato’s due diligence sampling of the Site #21A pit confirms the presence of anomalous niobium
and phosphorus mineralization:
Plato’s due diligence sampling at Site #21A pit found 764 ppm Nb and 1.70 % P 2O5 in
calcio-carbonatite with 1% pyrochlore and 257 ppm Nb and 0.41 % P 2O5 in ferro -
carbonatite with 1% pyrochlore (Table 2).
Plato’s samples were taken from the same pit as MDN Inc.’s 2015 sample with 340 ppm
Nb and Rudy Wahl’s sample with 0.906 % Nb2O5.
Plato’s due diligence sampling of dark red fenitized alkali granite (sample 1077390) with
interstitial carbonate contains anomalous 554 ppm Nb (Table 2). In 2015, MDN Inc.’s collected
5 samples from the same outcrop with assays of 258, 351, 424, 458 and 740 ppm Nb. This
outcrop is similar to the fenitized alkali granite with carbonatite veins at Site #28 and could be
used as an exploration pathfinder to carbonatite intrusive bodies at Site #21A.
Plato’s sampling of ijolite with patches of carbonatite shows that anomalous niobium contents
can occur in both rock types:
Plato’s assay of dark grey to black mela-ijolite (sample 1077386) contains 114 ppm Nb
and the patches of calcio-carbonatite within it (sample 1077389) contains 145 ppm Nb.
This occurrence is a topographic high of dominantly ijolite with a swamp next to it.
Similar to site #28, the main car bonatite occurrence could be located in the swamp. This
is a future exploration target for carbonatite.
Plato’s new outcrops of anomalous niobium values range from 112 to 349 ppm Nb (Table 2).
The location of these anomalous samples can be used as an exp loration pathfinder to find
carbonatite intrusive bodies at Site #21A.
Table 2 Plato’s grab sample assays from claim 4246269, Site #21A
Sample
Number Easting Northing Location Rock Type
Nb
(ppm)
P2O5
(%)
1077368 519969 5428835 new Calcio-carbonatite 192 5.25
1077369 519974 5428831 new Calcio-carbonatite 214 3.04
1077377 519755 5428376 new Metasediment/Carbonatite 349 0.65
1077379 519812 5428644 new Diabase 112 1.37
1077381 519753 5429047 new Metasediment 136 1.33
1077386 519804 5428954 new Ijolite 114 0.41
1077387 520017 5428748 Site 21A Pit Calcio-carbonatite 257 3.39
1077388 520016 5428747 Site 21A Pit Calcio-carbonatite 764 1.70
1077389 519804 5428955 new Calcio-carbonatite 145 0.61
1077390 520085 5428715 check 2015 samples Fenitized Alkali Granite 554 0.11
Site #37 (Claim 4256259, west of Site #28)
Plato’s due diligence sampling of the Site #37 confirms the presence of anomalous niobium and
phosphorus:
Plato’s due diligence sampling of a silicio -carbonatite at site # 37 contains 657 ppm Nb
and 2.36 % P2O5 (Table 3).
MDN Inc.’s 2015 sample from the same outcrop contains 597 ppm Nb, and Rudy Wahl’s
sample contains 0.157 % Nb2O5 (1097 ppm Nb).
Site #22 (Claim 4256252, south of Deadhorse Creek Road)
Plato’s due dilige nce sampling of 2011 trench TR -PL-11-001 at Site #22 also confirms the
presence of anomalous niobium and phosphorus:
Plato’s due diligence sampling of silicio-carbonatite found 287 ppm Nb and 1.64 % P 2O5
and 130 ppm Nb and 5.69 % P 2O5 in a ferro -carbonatite. Fenitized alkali granite with
carbonate + galena veinlets contained 224 ppm Nb (Table 3).
Canadian International assayed 19 grab samples in 2011 from the same trench with a
range of 3 to 496 ppm Nb and an average of 172 ppm Nb.
Table 3 Plato’s grab sample assays from claim 4256259, Site #37 and claim 4256252, Site #22
Sample
Number Easting Northing Site # Location Rock Type
Nb
(ppm)
P2O5
(%)
1077396 518980 5433159 37 check 2015 sample Silicio-carbonatite 657 2.36
1077398 518844 5431764 22 trench south of road Silicio-carbonatite 287 1.64
1077399 518835 5431764 22 trench south of road Fenitized Alkali
Granite
224 0.43
1077400 518828 5431756 22 trench south of road Ferro-carbonatite 130 5.69
An examination of the geology a nd mineralogy of the outcrops on the Good Hope Niobium
Property helped Plato’s exploration team better understand the mineralized system. It was noted
that high-grade Nb mineralization (>1.0 wt.% Nb 2O5) occurs predominantly within carbonatite
veins that co ntain apatite and highly concentrated pyrochlore (i.e., main Nb -carrier).
Mineralogical studies by Dr. Roger Mitchell and Amy Cleaver concluded that there are two
types of carbonatite at Good Hope: pyrochlore -rich and pyrochlore -poor. Ms. Cleaver’s thesis
concluded that the pyrochlore -rich carbonatite contains early crystallized cumulates of apatite
and Na -Ca pyrochlore with interstitial carbonate minerals. The distribution of the apatite
cumulates within the carbonatite veins is heterogeneous and prone to cause a nugget effect
during sampling. The mineralized carbonatite veins are accompanied by a suite of smaller
carbonatite veins that have variable compositions ranging from Fe -Mg-rich to Si -rich varieties
with variable Nb concentrations. Plato’s explorat ion team is using this information together with
geophysical and geological data to ultimately find the source of the mineralized carbonatite
veins. The results from the sampling program at four sites are encouraging as they indicate the
presence of a mineralized carbonatite system.
The Good Hope Niobium Project is being supervised by Dr. Julie Selway, Ph.D., P.Geo, who is
the project’s Qualified Person. Dr. Selway has prepared and supervised the preparation of the
scientific and technical disclosure in this news release.
About Dr. Julie Selway
Julie Selway, Ph.D., P.Geo. is the Principal Geologist for J -J Minerals, a mineral exploration
consulting firm based in Sudbury, Ontario. Dr. Selway has over 25 years of work experience for
academia, government an d industry. Dr. Selway’s specialties are writing NI 43 -101 reports,
QA/QC reviews of drill core assays, data compilations and project management. She is the co -
author of twenty -six NI 43 -101 Independent Technical Reports, twenty -three scientific journal
articles and thirteen Ontario Geological Survey publications. She has worked on a wide variety
of deposit types including: carbonatites, lithium pegmatites, Cu -Ni-PGE deposits, gold,
stratiform Cu, VMS, porphyry Cu and banded iron formation. Dr. Selway is a Qualified Person
("QP") as defined by National Instrument 43-101.
About Rudy Wahl
Rudy Wahl has been prospecting in the Marathon – Hemlo – Terrace Bay area since 1989 and
has optioned more than 30 properties to different mining companies. Between 2005 and 2014,
Mr. Wahl found 17 new rare earth and 2 new Uranium occurrences within the Prairie Lake –
Killala Lake Area. He made the Niobium discovery of up to 1.63 % Nb 2O5 and up to 20.6 %
P2O5 on the Good Hope Property in 2014. In recognition of this Niobi um discovery, he received
the Bernie Schnieders Discovery of the Year Award for 2014 from the Northwestern Ontario
Prospectors’ Association (NWOPA). He has also made numerous gold and diamond discoveries
and in 2012 was presented with the Lifetime Achievem ent Award for Outstanding Work as a
Prospector in Northwestern Ontario from the NWOPA. Mr. Wahl was presented with an
Honorary Doctorate in Science from Lakehead University in June 2017.
About Plato Gold Corp.
Plato Gold Corp. is a Canadian exploration company listed on the TSX Ve nture Exchange with
projects in Marathon Ontario, Timmins Ontario and Santa Cruz, Argentina.
The Good Hope Niobium Project consists of a total of 19 claims, 263 claim units and 4 ,208
hectares in Killala Lake Area and Cairngorm Lake Area Townships, near Marathon Ontario. In
May 2017, Plato signed an option agreement with Rudy Wahl and co-owners to acquire 100%
interest in the Good Hope Property. A drill program is planned for 2017.
The Timmins Ontario project includes 4 pro perties: Guibord, Harker, Holloway and Marriott in
the Harker/Holloway gold camp located east of Timmins, Ontario. The Holloway and Marriott
properties are under option with Kirkland Lake Gold Inc.. Plato holds 50% interest in the
Guibord property with t he remaining 50% held by Osisko Mining Inc. (“Osisko”). Osisko also
holds 80% interest in the Harker property with Plato holding the remaining 20%.
In Argentina, Plato owns a 75% interest in Winnipeg Minerals S.A. (“WMSA”), an Argentina
incorporated comp any. T he Lolita Property , held by WMSA, is comprised of a number of
contiguous mineral rights totaling 9,672 hectares . Work has advanced on this exploration
property to the point that it is drill-ready or ready to be optioned to a partner.
For additional company information, please visit: www.platogold.com.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT
TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.
For further information, please contact:
Anthony Cohen
President and CEO
Plato Gold Corp.
T: 416-968-0608
F: 416-968-3339
www.platogold.com
Forward Looking Statem ents
This news release contains “forward -looking statements”, within the meaning of applicable securities laws. These statements include, but are not
limited to, statements regarding the,potential mineralization and resources, exploration results, and fut ure plans and objectives . Generally, these
forward-looking statements can be identified by the use of forward -looking terminology such as “plans”, “expects” or “does not expect”, “is
expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “a nticipates” or “does not anticipate”, or “believes”, or variations of
such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be
achieved”. Forward -looking statements are base d on the opinions and estimates of management as of the date such statements are made, and
they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, use of procee ds, level of activity,
performance or a chievements of Plato to be materially different from those expressed or implied by such forward -looking statements, including
but not limited to risks related to: risks related to exploration; actual resource viability, and other risks of the mining i ndustry . Although
management of Plato has attempted to identify important factors that could cause actual results to differ materially from tho se contained in
forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no
assurance that such statements will prove to be accurate, as actual results and future events could differ materially from th ose anticipated in such
statements. Accordingly, readers should not place undue reliance o n forward-looking statements. The Company does not undertake to update
any forward -looking statements that are incorporated by reference herein, whether as a result of new information, future events or otherw ise,
except in accordance with applicable secur ities laws.