Plato Gold confirms exploration targets for Lolita property

Plato Gold Corp. (CVE:PGC) said Thursday that ground IP survey results on its Lolita property in Argentina confirmed targets at the Corazon and Panza zones, and a new target at Panza.

IP chargeability anomalies of strong intensity and large dimensions were detected in both areas, the company said. A drilling program for later this year is planned to test the targets.

"I am very happy with the IP program as Plato Gold Corp. now has high quality drill targets which have been achieved by the time consuming, but very necessary preliminary work associated with a methodical, well-designed exploration program. We are looking forward to the first drill results," said president and CEO, Anthony Cohen.

At the Panza and Colita areas, gradient IP surveys were done at 100 or 200 metre spaced lines
with readings taken every 25 metres along the lines.

"At Panza, a sharp break in both chargeability and resistivity values is directly coincident with the previously defined corridor of hydrothermal structures with strong geochemical anomalies in arsenic and other trace elements associated with precious metal deposits in Santa Cruz, the company said in a statement.

A very strong chargeability anomaly was also detected southeast of Panza with values of over 46 milliseconds covering an area of greater than 600 by 1,300 metres that remains open towards the southwest. The company said this new target will be a high priority to test, along with previously unknown structurally controlled targets.

Meanwhile, at Corazon, a strong chargeability anomaly with a maximum of 27 milliseconds and a 600 metre strike length with values in excess of 20 milliseconds was defined, which remains open to the northwest.

Plato holds a 75 percent interest in the joint venture Lolita property, with Dr. Paul Lhotka holding the remaining 25 percent.

Previously, Plato conducted three phases of prospecting geological mapping and surface rock samples that resulted in the discovery of unreported hydrothermal structures with little or no previous sampling activity. These zones were named Espalda, Colita, Panza, and Corazon.

Geochemical results of rock samples on the property have returned "highly anomalous" values for antimony, arsenic and mercury; all traditional pathfinder elements for precious metal deposits, the company said.

Aside from Lolita, Plato has exploration projects in Northern Ontario and Northern Québec.