Plexmar Resources Inc.

Plexmar Resources Inc.

June 02, 2006 08:00 ET

Retransmission: Plexmar Finds Silver and Copper Associated With the Gold

SAINTE-FOY, QUEBEC--(CCNMatthews - June 2, 2006) - Plexmar Resources Inc. (TSX VENTURE:PLE), is pleased to announce results from its Bolsa del Diablo property. Results from over 195 samples were received from the ALS Chemex lab located in Lima.

Samples were mostly taken on the Angolos concession, the Santa Rosa de Suyo and Molinetes 2004 concessions on NEWLY found veins and heavily altered volcanic rocks.


Channel samplings taken in the newly discovered veins vary from 0.5m to 1.0 m in width and are taken at an average depth of 1m. Ag and Cu will now be analyzed systematically and only available figures are shown below. Results are encouraging and significant values are tabulated below:

Sample Number Gold (g/t) Au Ag (g/t) Cu (%)
SAM-021-VN 186.5 141.0 0.803
GSA1-001-VN 76.3 45.9 0.482
ALVM-204-VN 64.4 95.7 0.239
SAJ-018-VN 45.1 4.4 0.303
ALVM-205-VN 24.4 5.7 0.053
SAM-022-VN 21.0 29.8 0.489
SAM-004-VN 17.0 1.5 0.670
ALVM-209-VN 9.78 2.0 1.175
BDH-014-VN 5.06 10.8 0.366
BDH-009-VN 4.24 11.1 0.108
ALVM-210-VN 4.16 3.9 0.372
ALVM-219-VN 3.90 53.5 0.410
ALVM-220-VN 3.69 1.80 0.329
ALVM-207-VN 3.09 7.7 0.072
SAM-012-VN 2.51 4.4 0.406
SAM-014-VN 1.95 0.9 0.096
GROB-002-VN 1.73 0.7 0.281
BDH-005-VN 1.71 4.4 0.551
BDH-012-VN 1.54 6.1 0.154
SAM-002-VN 1.14 0.7 0.424


Chip samples, composite and vertical channel samples were taken in altered volcanics from the three same concessions. All chip samples cover an area of 0.5m in diameter, composite and vertical samples cover a 2m section of the structures. Results again show that the volcanic unit bears high grade values, the best values tabulated below:

Sample Number Gold (g/t) Au Ag (g/t) Cu (%)
P12AL-006-RX 28.3 n/a n/a
ALVM-208-RX 21.3 31.3 0.199
GSA1-003-RX 9.43 5.3 0.251
SAM-018-RX 8.12 0.8 0.206
SAM-011-RX 7.72 4.4 0.327
P12AL-005-RX 7.46 n/a n/a
SAM-001-RX 6.65 6.4 0.745
SAM-003-RX 6.48 15.0 0.424
BDH-015-RX 3.69 16.8 0.058
ALVM-206-RX 3.65 1.1 0.053
SAM-005-RX 3.55 1.0 0.374
BDH-016-RX 2.55 6.0 0.156
C53AL-001-RX 2.48 6.1 0.845
SAM-023-RX 2.08 3.2 0.106
BDH-017-RX 1.465 nil 0.115
BDH-011-RX 1.07 2.5 0.120

Theses results extend the known alteration and volcanic unit 1 kilometer to the north of the Angolos concession which has been the focus of most of the previous exploration work.

Guy Bedard, president says: "The gold bearing area has been extended well to the north and to the southwest and suggests that the gold mineralizing system is much larger that previously thought. Also, the presence of good silver values and 1.0% copper in the argilic alteration and the veins suggests that the intrusive unit may be a large gold porphyry but more work is necessary to confirm all these assumptions."

Geophysical contractors from Lima have visited the property and will submit competitive bids to carry out a ground induced polarization survey (I.P.) to help define drill targets and an airborne magnetic and radiometric survey. The I.P. survey will cover the most of the 6 km2 altered volcanic system. Contracts will be awarded shortly and work should start this month.

Satellite interpretation of the whole area has been commanded and PIMA analyses will be carried out.

Sampling is on-going in differect areas of the project and will be released as they are interpreted.

All samples are analyzed by ALS Chemex in Lima. Guy Bedard, president, acted as the QP for the preparation of this news release.

On Bolsa del Diablo

Plexmar controls over 220 km2 of land in Northern Peru near the border with Ecuador. At the present, over 250 artisan miners are pulling gold on a daily basis from trenches or pits located in an area measuring approximately 6km2 roughly centered within Plexmar's main claim block. The zone is characterized by low to intense silica and clay hydrothermal alteration. All the volcanic rocks in the area of interest show pervasive argillic alteration and have developed very intense stockwork structures. Gold mineralization occurs partly as fracture fillings in the stockwork and also as dissemination throughout the rock. Limonitization is pervasive throughout the rock. This intense stockwork was observed in numerous places on the property.

91 M shares outstanding

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Paradox Public Relations
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    1 (866) 460-0408