Plato Gold Announces Results of Drill Program at Lolita Project, Santa Cruz, Argentina
Toronto, ON, Sept. 12, 2025 (GLOBE NEWSWIRE) -- Plato Gold Corp. (TSX-V: PGC) (OTCQB: NIOVF) (FRANKFURT: 4Y7 OR WKN: A0M2QX) (“Plato” or the “Company”) an exploration company with a portfolio of properties in Northern Ontario and Santa Cruz, Argentina announces results from the drill program at the gold-silver Lolita Project, Santa Cruz, Argentina.
Drilling commenced in May and was completed by mid-June, with 1,585 meters drilled in 12 holes with lengths ranging from 74 to 242 m (Figure 1). Two holes were drilled at Espalda, two at Corazon and eight at Panza. The program was completed within the projected budget (see release of June 16, 2025).
Results of 299 samples (including quality control “QC” samples) are now available. The Plato Gold QC samples, comprising Certified Reference Materials, duplicates and blanks, passed an internal review by our Qualified Person.
Drill holes at Panza and Corazon intersected silica veinlets and hydrothermal breccias within what appears to be a specific stratigraphic unit of competent, felsic volcanic rock, possibly an ignimbrite. The veinlets and breccias contain pyrite, or, in some cases, near surface iron oxides produced by the weathering of pyrite. Core samples of these zones contain anomalous arsenic, sulphur and sometimes antimony and mercury. Gold and silver values are non-economic, with occasional weakly anomalous values similar to the surface rock samples as previously reported. In drill core, the maximum values of gold are 15 parts per billion and silver are 5.8 parts per million, with maximums of arsenic of 1,059 ppm, antimony of 230 ppm, mercury of 15 ppm and sulphur of 1.7 percent.
Figure 1. Location of the 12 holes drilled at Lolita with the simplified geology and alteration zones and Gradient IP surveys (the “hot” colours indicate high chargeability). Section line for Figure 2 is shown at Panza in plan view.
Please click here to view image
In some cases, long intervals of veinlets and brecciation with sulphides or weathered sulphides were intersected at Panza and Corazon. At Panza, these intervals appear to host stratigraphically controlled mineralization rather than be controlled by steep structures as was expected. A steeply dipping fault was identified in hole LO-25-003, but it did not contain visible alteration or mineralization. This fault cuts off the ignimbrite unit north-east of the ridge where holes LO-25-002 and LO-25-005 were drilled. All the other holes at Panza (holes 3, 4, 6, 7, 8, and 9) hit the ignimbrite and showed signs of alteration and mineralization and contained anomalous pathfinder elements (As, Sb, Hg and S).
This interpretation at Panza is supported by cross sections with correlations between the holes of the zones of veinlets and brecciation occurring at sub-horizontal angles (Figure 2). In such case, the lengths of anomalous mineralization are near true thickness, and the volume of alteration and mineralization is large, although it is lacking precious metals. For example, at Panza holes LO-25-003 and LO-25-009 are 370m apart in cross section and contain intercepts of 25 and 37m, averaging 395 and 308 ppm arsenic. These intervals appear to correspond to Gradient and PDP Induced Polarization chargeability highs.
Table 1 – Selected Anomalous Pathfinder Element Values
| Target Area | Hole | from_m | to_m | length_m | As_ppm | S_pct | Sb_ppm |
| Panza | LO-25-003 | 33.50 | 58.85 | 25.35 | 395 | 0.69 | 130 |
| Panza | LO-25-009 | 77.25 | 115.15 | 37.90 | 308 | 0.66 | 71 |
| Corazon | LO-25-011 | 42.50 | 79.80 | 37.30 | 166 | 0.42 | 15 |
| Corazon | LO-25-012 | 51.00 | 96.00 | 45.00 | 237 | 0.64 | 22 |
Please click here to view image
Figure 2. Plan and Section of Hole 2, 3 and 9 at Panza showing Gradient IP in plan and the locations of drillholes. In the section and interpretation of the drillholes show a gently dipping unit (f. g. ignimbrite in pink) which contains silica veinlets with pyrite and anomalous arsenic and sulphur values. Hot colours in IP are high chargeability.
Please click here to view image
At Corazon, two holes were drilled at different azimuths and inclinations from the same platform. Both had core lengths of greater than 35 meters of veinlets and brecciation with anomalous arsenic. True thickness cannot be determined here, but the lengths again suggest that the alteration and mineralization occur as significant volumes.
The geological occurrence of these zones of mineralization with anomalous pathfinder elements as apparently stratabound units is somewhat atypical in the Deseado Massif, and its significance is not clear at this time.
Plato Gold will study the results in greater detail and consider its options for the property.
Dr. Paul G. Lhotka, P. Geo., is the “Qualified Person” as defined in NI 43-101, who has reviewed and approved the technical content in the presentation. Dr. Lhotka was on site during the first part of the drill program for holes LO-25-001 to 003.
About Plato Gold Corp.
Plato Gold Corp. is a Canadian exploration company traded on the TSX Venture Exchange, OTC Markets, and Frankfurt Exchange with projects in Timmins, Ontario, Marathon, Ontario and Santa Cruz, Argentina.
The Timmins Ontario project includes 4 properties: Guibord, Harker, Holloway and Marriott in the Harker/Holloway gold camp located east of Timmins, Ontario, with a focus on gold.
In Argentina, Plato owns a 95% interest in Winnipeg Minerals S.A. (“WMSA”), an Argentina incorporated company that holds a number of contiguous mineral rights totalling 9,672 hectares with potential for gold and silver.
The Good Hope Niobium Project consists of approximately 6,035 hectares in Killala Lake Area and Cairngorm Lake Area Townships, near Marathon Ontario, with the primary target being niobium.
The Pic River Platinum Group Metals (PGM) Project consists of 2,352 hectares in Foxtrap Lake and Grain Township, near Marathon Ontario, of which 19 claims are contiguous to the western boundary of Generation Mining’s Marathon PGM project and is located on strike to Generation Mining’s Sally deposit.
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 Info1@platogold.com
www.platogold.com
Forward-Looking Statements
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, concentrations of pay minerals that may offset operating costs and future plans and objectives. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include but are not limited to: changing costs for mining and processing; increased capital costs; the timing and content of upcoming work programs; geological interpretations based on drilling that may change with more detailed information; potential process methods and mineral recoveries assumption based on limited test work and by comparison to what are considered analogous deposits that with further test work may not be comparable; testing of our process may not prove successful and even it tests are successful, the economic and other outcomes may not be as expected; the availability of labour, equipment and markets for the products produced; and conditions changing such that the minerals on our property cannot be economically mined, or that the required permits cannot be obtained. Although management of Plato has attempted to identify important factors that could cause actual results to differ materially from those 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 those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
