Plato Gold Corp.

Plato Gold Corp.

October 14, 2005 12:22 ET

Plato Gold Corp. Announces Early Results From Drilling Program

TORONTO, ONTARIO--(CCNMatthews - Oct. 14, 2005) - Plato Gold Corp. (TSX VENTURE:PGC) commenced a diamond drill program on its properties along the Destor Porcupine Fault Zone, east of Timmins, Ontario in early September.

Drilling is being conducted on 2 properties, one in Guibord Township some 5 km southeast of Apollo's Black Fox Project, east of Matheson, Ontario. To date, 11 holes totaling 2,274 metres have been completed at Guibord. This program is designed to test zones of alteration and mineralization with historical scattered gold values and untested IP anomalies from programs conducted in the late 1980's - early 1990's.

The following intersections have been received from the first 5 holes assayed of the 11 completed:

Hole ID From (metres) To (metres) Length (metres) grams/tonne
-------- ------------- ----------- ------------------------------
GP 01 6.40 28.00 21.60 0.84
GP 01 178.00 183.00 5.00 2.70

GP 02 low values

GP 03 58.00 64.00 6.0 0.36

GP 04 low values

GP 05 42.00 46.00 4.0 0.76
GP 05 114.00 115.00 1.0 1.26

Two holes totaling 423 metres have been completed on the Marriott Property, which adjoins a property held by Newmont, and is currently being explored by Harte Gold. No assays are yet available.

Some 5,000 metres of diamond drilling is planned for both properties in this phase of exploration. The program being conducted is based on a review and recommendations made by Watts, Griffis and McOuat (WGM) in a 43-101 report on the Plato properties.

The program is being managed by Richard W. Risto, B.Sc., M.Sc., P. Geo. who is the Corporation's Qualified Person. Swastika Laboratories Ltd. of Swastika, Ontario is the primary assay laboratory. Plato's program for quality control entails Swastika select one sample in every 20 routine samples and send to SGS Laboratories for check assaying. Both Laboratories are fully accredited.

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

Contact Information

  • Plato Gold Corp.
    Mr. Anthony Cohen
    President and Chief Executive Officer
    (416) 968-3337
    (416) 968-3339 (FAX)
    Plato Gold Corp.
    Suite 300, 1300 Bay Street
    Toronto, Ontario M5R 3K8