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November 8, 2023
Plato Gold (TSXV:PGC) Commences Drilling Program at Marriott Gold Property in Ontario’s Abitibi Belt

Figure 1: Drill set up on the first drill hole on Marriott Property. Source: Plato Gold

Plato Gold (TSXV:PGC) has initiated a drilling campaign at their Marriott Gold Property located in Matheson, Ontario. The drilling effort, composed of two holes totalling 450 meters, is targeting areas identified as promising by both geological and geophysical studies, as illustrated in Figure 1. This new phase of drilling is a direct progression from the airborne magnetic surveys conducted with an Unmanned Aerial Vehicle (UAV) in the spring of the previous year. The chosen drill sites are approximately 11 kilometres to the east of the Holt gold mining complex owned by Agnico Eagle.

Anthony Cohen, President and CEO of Plato Gold, commented in a press release: “Plato is pleased to commence drilling on one of our well-located gold properties in the Harker/Holloway gold camp.  All of our properties have excellent infrastructure nearby, as well as either currently operating or historic mining operations.”

The drill hole collars were precisely positioned at anomalies highlighted by geophysical analysis, linking magnetic, electromagnetic (EM), and gravity highs. These highs are believed to correspond with iron-rich tholeiitic basalts, and potentially with sulphide and gold mineralization. The gravity-high signals at the drill locations are similar to those at the historic Harker and Iris gold mines.

The Marriott Gold Property lies within the prolific Abitibi Greenstone Belt, known for its extensive gold mining history. Geologically, the area of the planned drill holes falls within a southern deformation zone that runs parallel to the Porcupine-Destor Deformation Zone on the northern boundary of the property. Interpretations of the 2022 UAV magnetic survey suggest that northeast-southwest trending crosscut faults are near the drill sites, which could act as conduits for gold-enriched fluids. It is within these structures that gold mineralization is typically found in the Abitibi region.

Further geophysical examination indicates that the selected drill targets lie along a stratigraphic unit trending southwest, which continues towards the Harker gold mine, Iris mine, and the Howey-Cochenour-Williams occurrence, hosting a range of minerals such as gold, silver, tungsten, copper, lead, and zinc. Harker gold mine, located roughly 14.7 kilometers southwest from the drill sites, has a history of exploration, with significant amounts of ore being previously excavated and processed.

The Marriott Property itself spans approximately 2728 hectares with 142 cell claims and is wholly owned by Plato Gold Corp. It’s positioned in the eastern segment of the Abitibi Greenstone Belt, near the Ontario-Quebec border, within the mineral-rich Timmins-Kirkland Lake area.

The Abitibi Greenstone Belt is an ancient volcanic sequence over 2.6 billion years old, known  for its significant gold deposits. This geological formation is one of the largest of its kind and has played a critical role in the mining history of both Ontario and Quebec. The area has been a focal point for numerous scientific studies due to its complex seismic and volcanic history and continues to be a major target for mineral exploration and investment due to its vast resource potential.

Some of the highlights of the property are as follows:

Marriott Property:

Located within Abitibi Greenstone Belt gold mining camp
Excellent access – located on Highway 101
Excellent infrastructure – located 45 km northeast of Kirkland Lake and 130 km east of Timmins

The proposed drill holes were selected based on geophysics and geology characteristics of Abitibi gold deposits:

Magnetic, electromagnetic (EM) and gravity anomalies
Deformation zone parallel to Porcupine-Destor Deformation Zone
NE-SW trending fault
Same stratigraphic unit as the historic Harker gold mine and Iris gold mine.

 

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

The post Plato Gold (TSXV:PGC) Commences Drilling Program at Marriott Gold Property in Ontario’s Abitibi Belt appeared first on MiningFeeds.

 

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