Plato Gold Corp. intersects 0.190% Nb2O5 over 93 metres in Drill Program on Good Hope Niobium Property
Plato Gold Corp. intersects 0.190% Nb2O5 over 93 metres
in Drill Program on Good Hope Niobium Property
Toronto, Ontario – September 19th, 2018 - Plato Gold Corp. (TSX-V: PGC) (“Plato” or the “Corporation”) is pleased
to announce the assay results from its recent diamond drilling program on the Good Hope Niobium Property in the
Killala Lake and Cairngorm Lake Areas of northwestern Ontario. The property, which consists of 254 mining claims
covering an area of approximately 5,100 hectares, is located approximately 45 kilometres northwest of the town of
Marathon, Ontario.
In May 2018, Plato completed 5016 metres of diamond drilling on the Good Hope Property. The drilling focused on
outcropping mineralization at ‘Site 28’ in the northwestern part of the property and encompassed an area of
approximately 500m by 500m (see Figure 3). All holes were drilled in a northwesterly direction . The nine
completed drill holes ranged in length from 372 to 672 metres, testing the area to a vertical depth of between 285
and 580 metres (see Press Release dated 6 June 2018 for drill collar information). All holes intersected zones (up to
27m wide) of massive carbonatite within a brecciated system consisting of variably fenitized syenite/quartz-syenite
intruded by carbonatite dykes and crosscutting carbonatite veins. Although the brecciated nature of the host rocks
makes any orientation or trend of mineralization difficult to determine, the intersection of massive carbonatite in
every drill hole from surface up to approximately 500m depth suggests that significant potential exists for
niobium mineralization over a large area.
Assays of the drill core samples collected from the program peaked at 0.950% niobium (Nb 2O5) with 6. 20%
phosphorus (P2O5) over 1.1m in a sample of massive carbonatite (PGH-18-06, 382.94-384.04m; see Table 1).
The two most significant intersections from the drilling program were 0.190% Nb2O5 and 2.04% P2O5 over 93.08m
(drill hole PGH -18-06; 354.18-447.26m) and 0.175% Nb 2O5 and 2.03% P 2O5 over 89.24m (drill hole PGH -18-10A;
345.0-434.24m) (see Table 1).
Dr. Roger Mitchell of Lakehead University is undertaking a petrographic study of core samples from the recent drill
program and has made the following observations:
“The ore mineral of the Good Hope carbonatite, in common with all other niobium producing carbonatites, is
pyrochlore. The high density and coarse grain size of the Good Hope pyrochlores, along with an association with
acid soluble inclusions and host carbonates may be very favourable for simplifying of ore beneficiation
processes.”
“Pyrochlore is a sodium (Na)- and calcium (Ca)- bearing niobium (Nb) oxide with the simplified composition of
(NaCa)Nb2O7. The majority of the Good Hope pyrochlores are typically of relatively uniform composition and
contain on average about 70 wt.% Nb 2O5 with 1 -2 wt.% strontium oxide ( SrO) and barium oxide ( BaO). Minor
variations in composition ra nge from these dominant “normal” Na -Ca-pyrochlores to Na - and Ca-poor (1-4 wt.%
Na2O) varieties also with 70 wt.% Nb 2O5. Replacement of both types of pyrochlores by trace amounts of Sr -rich
varieties with 4-6 wt.% SrO, 1 -8 wt.% BaO, less than 1 wt.% UO 3, and no detectable ThO 2 are also present. Some
pyrochlores have been replaced in part by fersmite [CaNb 2O6 with approximately 58 wt.% Nb 2O5] or
ferrocolumbite [FeNb2O6] with c. 79 wt.% Nb2O5].”
Figure 1. Back-scattered electron images showing coarse grained pyrochlore crystals (white) in
apatite at 384.8m in drill hole PGH-18-06 (left) and 335m in hole PGH-18-01 (right).
“The pyrochlores commonly co -exist with the phosphorus (P) bearing mineral apatite [Ca 5(PO4)3(OH,F,Cl)] and
appear to form clasts derived from an earlier stage apatite-pyrochlore cumulate body. These clasts have commonly
been disaggregated resulting in the liberation of the pyrochlores from the apatite into the matrix of the diverse
later stage carbonate minerals which make up the carbonatite intrusion.”
“The pyrochlores exhibit a very wide range in size, mainly from 100 microns to 1 mm, with some crystals being up
to 5 mm in maximum dimension. The majority are euhedral, not resorbed and of relatively uniform composition.
Inclusions when present are of apatite, and/or diverse carbonates.”
Dr. Mitchell states that “compared with other carbonatites currently being evaluated for their niobium potential
the Good Hope prospect has significant potential because of favourable mineralogy and infrastructure”.
“I am very pleased with the results of this drill program,” said Anthony J. Cohen, President of Plato Gold Corp. “The
large area of massive carbonatites and breccias suggest that there is much more area to explore with this near to
surface project, that is located close to unparalleled infrastructure. The future demand for niobium is growing with
all of its important new uses and it is fortunate to have this project located in the Province of Ontario.”
Figure 2. Fluorescent (left) and mid-wave UV light (right) photos showing coarser grained
pyrochlores in apatite at ~387.3m in hole PGH-18-10A.
Approximately 2150 metres or 40% of all drill core was sampled. A total of 2081 drill core samples from the
program were submitted to Activation Laboratories (ActLabs ) in Thunder Bay, Ontario and analyzed for niobium
using a fusion XRF method. Samples from holes PGH-18-01 through PGH-18-03 were also analyzed for a whole rock
and trace element ICP analytical package. Samples from holes PGH -18-04 onwards were submitted f or an XRF
package designed for coltan deposits which included Ta, Nb, U, Th, Zr, Fe, P, Sn, Y, and W oxides. An internal
Quality Control Quality Assurance (QAQC) program was implemented with an additional 168 QAQC samples
(blanks, reference standards, and duplicates) also being submitted for analysis.
Plato has contracted an independent mining and geological consulting firm to review the data from the recent
program and help with planning of the next phase of drilling to help move the project forward. The next phase of
the program may include infill drilling and sampling, extension of the drilling pattern to the west and north, and
drilling of other target areas.
Laura Giroux, Msc., P.Geo., a Qualified Person as defined by NI 43-101, is responsible for the technical information
contained in this news release and has reviewed and approved its content.
About Dr. Roger Mitchell
Dr. Roger Mitchell is Professor Emeritus of Geology at Lakehead University, a Fellow of the Royal Society of Canada
and is a recognized international authority on the petrology and mineralogy of diamond-bearing rocks (kimberlites;
Lamproites) and carbonatites. He has acted as a consultant to many major and junior mining exploration
companies. With respect to carbona tites he has authored many significant publications in international refereed
periodicals (Lithos; Ore Geology Reviews) on the mineralogy and petrology of Nb-bearing carbonatites.
About Plato Gold Corp.
Plato Gold Corp. is a Canadian exploration company listed on the TSX Venture Exchange with projects in Marathon
Ontario, Timmins, Ontario and Santa Cruz, Argentina.
The Good Hope Niobium Project consists of a total of 254 mining claims covering approximately 5,100 hectares in
Killala Lake Area and Cairngorm Lake Area, 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.
The Timmins Ontario project includes 4 properties: Guibord, Harker, Holloway and M arriott in the
Harker/Holloway gold camp located east of Timmins, Ontario. Plato holds 50% interest in the Guibord property
with the 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 company.
The 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.
For further information, please contact:
Anthony Cohen
President and CEO
Plato Gold Corp.
T: 416-968-0608
F: 416-968-3339
www.platogold.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
CAUTIONARY STATEMENT REGARDING FORWARD -LOOKING INFORMATION: This news release includes certain "forward -looking information"
within the meaning of applicable Canadian securities laws. Forward looking information includes, but is not limited to, state ments, projections
and estimates with respect to the Offering , the potential mineralization and resources, exploration results, and future plans and objectives .
Generally, forward -looking information 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 “w ill be taken”,
“occur” or “be achieved”. Such information is based on info rmation currently available to Plato and Plato provides no assurance that actual
results will meet management's expectations. Forward -looking information by its very nature involves inherent risks and uncertainties that may
cause the actual results, level of activity, performance, or achievements of Plato to be materially different from those expressed or implied by
such forward -looking information. Actual results relating to, among other things, approval and completion of the Offering, results of
exploration, project development, reclamation and capital costs of Plato’s mineral properties, and Plato’s financial condition and pr ospects,
could differ materially from those currently anticipated in such statements for many reasons such as: changes in general e conomic conditions
and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental an d other judicial,
regulatory, political and competitive developments; technological and operational difficulties encountered in connection with Plato’s activities;
and other matters discussed in this news release and in filings made with securities regulators. This list is not exhaustive of the factors that may
affect any of Plato’s forward -looking statements. These and other factors should be considered carefully and accordingly, readers should not
place undue reliance on forward -looking information. Plato does not undertake to update any forward -looking information, except in
accordance with applicable securities l aws.
Table 1. Good Hope Intersections - Niobium and Phosphorus Weighted Averages
Drill Hole From
(m)
To
(m)
Width*
(m)
Nb2O5
(%)
P2O5
(%) Description
PGH-18-01 15.64 19.75 4.11 0.174 2.71 CRBT>SYE CLASTS
PGH-18-01 65.93 81.25 15.32 0.131 2.84 CRBT
including 74.88 78 3.12 0.224 3.59
PGH-18-01 170.4 171.36 0.96 0.356 3.4 CRBT
PGH-18-01 198 212.72 14.72 0.126 2.22 MIX CRBT & BX
including 199 200.01 1.01 0.543 4.61 CRBT
PGH-18-01 227.18 278.3 51.12 0.123 1.81 MIX CRBT & BX
including 242.5 247.3 4.8 0.264 3.99 CRBT>SYE CLASTS
which includes 243.49 244.44 0.95 0.531 6.27 CRBT
and 273.92 278.3 4.38 0.365 4.70 CRBT
which includes 277.15 278.3 1.15 0.665 3.2
PGH-18-01 295.9 298.44 2.54 0.400 2.71 MIX CRBT & BX
including 295.9 296.7 0.8 0.637 4.5
PGH-18-01 308.2 374.02 65.82 0.170 2.11 MIXED CRBT & BX
including 309.35 355.05 45.7 0.198 2.57 CRBT from 313.49-340.9m
which includes 351.13 354.57 3.44 0.424 3.48
which includes 351.13 352.09 0.96 0.852 6.11 BX w/ 40% CRBT VEINING
and 362.8 366.58 3.78 0.392 3.05 BX
which includes 362.8 364.77 1.97 0.662 4.60
PGH-18-02 29.5 30.7 1.2 0.534 2.15 CRBT
PGH-18-02 38.75 48.25 9.5 0.238 2.06 BX
including 39.25 42 2.75 0.404 2.35 BX
which includes 41 42 1.0 0.572 2.05 CRBT-BX
PGH-18-02 89.15 89.8 0.65 0.351 6.93 CRBT
PGH-18-02 146 150.2 4.2 0.210 4.80 CRBT/SYE-BX
PGH-18-02 155.45 157.3 1.85 0.390 1.96 CRBT/BX
including 156.35 157.3 0.95 0.512 3.06 CRBT
PGH-18-02 202.68 203.43 0.75 0.362 2.4
PGH-18-02 257.8 270.77 12.97 0.093 4.11 CRBT
PGH-18-03B 22 23.8 1.8 0.246 2.32 CRBT
PGH-18-03B 52.45 62.08 9.63 0.117 2.38 CRBT
PGH-18-03B 187.24 196 8.76 0.219 1.91 CRBT
PGH-18-03B 218.86 223.3 4.44 0.381 2.74 CRBT w/ BX at end
including 221 222 1.00 0.807 5.28 CRBT
PGH-18-03B 381.49 382.12 0.63 0.597 2.66 CRBT/BX
PGH-18-03B 411 418.5 7.5 0.229 2.75 CRBT
PGH-18-03B 470.75 477.04 6.29 0.095 0.54 CRBT
PGH-18-04 216.71 222.65 5.94 0.096 2.52 CRBT
PGH-18-04 435 436 1.00 0.682 3.86 CRBT-BX
PGH-18-04 489.34 621.7 132.36 0.119 1.71 MIXED
including 493.18 508.4 15.22 0.236 3.18 CRBT/SYE-BX
and 537.75 555.19 17.44 0.308 3.20 CRBT
which includes 537.75 540.75 3.00 0.769 5.87 CRBT
and includes 548.25 549.75 1.50 0.678 7.27 CRBT
and 563.85 564.86 1.01 0.538 5.92 CRBT
PGH-18-05 38.8 40.3 1.5 0.482 4.28 CRBT
PGH-18-06 25.9 30.1 4.2 0.145 2.61 CRBT
PGH-18-06 344.54 345.98 1.44 0.434 3.04 SYE-BX
PGH-18-06 354.18 447.26 93.08 0.190 2.04 CRBT w/ minor SYE & DIAB
including 355.22 357.09 1.87 0.529 3.75 CRBT
and 382.94 402.67 19.73 0.365 2.86 CRBT
which includes 382.94 384.04 1.1 0.950 6.20 CRBT
and 414.38 441.14 26.76 0.259 2.94 CRBT
which includes 435.66 437.78 2.12 0.846 4.71 CRBT
PGH-18-07 202.22 203.61 1.39 0.700 3.94 CRBT BX
PGH-18-07 226 232.7 6.7 0.104 2.96 CRBT/SYE-BX
PGH-18-07 265.95 289 23.05 0.111 2.67 CRBT/SYE-BX
including 275.8 280.3 4.5 0.258 1.20 CRBT-BX
PGH-18-07 468.15 474.37 6.22 0.103 1.70 CRBT
PGH-18-07 573.14 586.42 13.28 0.300 2.75 CBRT/SYE-BX
including 580.72 584.95 4.23 0.483 2.72 SYE-BX
which includes 583.46 584.95 1.49 0.885 4.59 SYE-BX
PGH-18-07 608 653.02 45.02 0.093 2.01 CRBT/SYE-BX
including 646 648.57 2.57 0.583 4.67 CRBT/SYE-BX
which includes 646 647.3 1.3 0.888 6.14 CRBT
PGH-18-08 60 72 12 0.097 1.29 SYE-BX
PGH-18-08 89.67 99.57 9.9 0.118 2.04 CRBT/SYE
PGH-18-08 174 183 9 0.124 3.23 CRBT
PGH-18-08 290.76 338 47.24 0.094 1.62 CRBT/SYE-BX
including 328 335 7 0.238 2.81 CRBT
which includes 328 329 1 0.692 5.39 CRBT
PGH-18-08 346.56 347.09 0.53 0.614 4.95 CRBT
including 376 380.24 4.24 0.201 2.02 CRBT/SYE-BX
PGH-18-09 141 145.9 4.9 0.143 3.43 CRBT-BX
PGH-18-09 159.48 186 26.52 0.095 1.45 CRBT/SYE-BX
including 159.48 160.38 0.9 0.398 0.54 CRBT
and 169.72 171.63 1.91 0.289 6.09 CRBT/SYE-BX
PGH-18-09 201.08 204 2.92 0.113 1.89 MD
PGH-18-09 216.5 217.08 0.58 0.579 6.39 CRBT-BX
PGH-18-09 223.63 224.03 0.40 0.867 3.34 CRBT
PGH-18-09 249.4 254 4.6 0.148 3.19 CRBT-BX
PGH-18-09 292.81 297.35 4.54 0.171 2.08 CRBT
including 294.95 295.45 0.5 0.485 4.16 CRBT
PGH-18-09 368.55 371.94 3.39 0.176 3.08 CRBT/SYE-BX
PGH-18-09 375.36 378.2 2.84 0.137 1.93 CRBT
PGH-18-09 434.5 437.4 2.9 0.159 2.47 CRBT
PGH-18-09 446.17 459.65 13.48 0.165 2.81 CRBT
PGH-18-09 488 492.96 4.96 0.180 3.15 CRBT
PGH-18-10A 161.87 162.48 0.61 0.414 4.86 CRBT
PGH-18-10A 168.72 168.94 0.22 0.401 2.18 CRBT
PGH-18-10A 177.5 178.91 1.41 0.183 0.84 CRBT/SYE-BX
PGH-18-10A 252 254.13 2.13 0.319 3.26 CRBT/SYE-BX
PGH-18-10A 265.95 269.55 3.6 0.345 0.82 SYE-BX
including 267 268.08 1.08 0.759 0.76 SYE-BX
PGH-18-10A 275.85 283.43 7.58 0.122 1.73 SYE-BX
PGH-18-10A 296.23 301 4.77 0.113 1.84 CRBT
PGH-18-10A 321.77 337.85 16.08 0.115 1.34 CRBT/MD
including 321.77 322.9 1.13 0.523 4.37 CRBT/MD
PGH-18-10A 345 434.24 89.24 0.175 2.03 CRBT/SYE-BX
including 358.82 360.08 1.26 0.428 4.76 SYE-BX
and 364.24 377.3 13.06 0.392 3.43 CRBT
and 387 391.92 4.92 0.405 2.96 CRBT
which includes 387 387.71 0.71 0.747 5.51 CRBT
and 394.63 395.51 0.88 0.618 4.11 CRBT
and 403.59 406.91 3.32 0.319 4.45 CRBT
and 432.43 433.24 0.81 0.402 4.12 SYE-BX
*True widths not determined due to brecciated nature of mineralized units;
**CRBT = Massive carbonatite; SYE = Un-brecciated syenite/quartz-syenite; CRBT/SYE-BX = Mix of massive carbonatite
and breccia (syenitic clasts in carbonatite matrix); CRBT-BX = Breccia where carbonatite content greater than syenite;
DIAB = Diabase dyke.
Figure 3. Location of 2018 Drill Holes.