Junior miner Plato Gold (CVE:PGC) reported Wednesday it has finished the incorporation of its Argentine subsidiary, Winnipeg Minerals S.A., to work on its Lolita property in Santa Cruz, southern Argentina.
Winnipeg Minerals S.A. is 75 percent owned by Plato with Paul Lhotka holding the remaining 25 percent stake.
Winnipeg Minerals will hold a majority interest in the Lolita property which comprises of many adjacent mineral rights totalling 27,857 hectares.
The new entity allows Plato to advance work on the property with a drill program expected in late 2011, the company said in a statement.
Additionally, Plato has formed a team of Argentine professionals to operate Winnipeg Minerals.
Julio Cesar Ortiz is to be president, and will also be responsible for legal counsel, while Pablo Gonzalo Vicchi is responsible for accounting and local financial management.
Diego Charchaflié, who is a registered professional geologist, will be responsible for exploration and will serve as the qualified person on the project.
Plato Gold is a Canadian gold exploration company with exploration projects in northern Ontario and Quebec, in addition to its Lolita property in the province of Santa Cruz, Argentina.
The Toronto-based company’s stock traded flat at 4 cents Wednesday afternoon on the junior Toronto Stock Exchange.
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