Plato Gold Reports on Preliminary Prospecting and Sampling Program for the Pic River PGE-Cu Project

Toronto, Nov. 30, 2022 (GLOBE NEWSWIRE) -- Plato Gold Corp. (TSX-V: PGC) (OTCQB: NIOVF) (Frankfurt: 4Y7 or WKN: A0M2QX) is pleased to announce results from its recently completed preliminary prospecting and sampling program over select areas of the Pic River PGE-Cu Project, located 30 km northwest of Marathon, Ontario. The property is contiguous to the western boundary of Generation Mining Limited’s Marathon Palladium Copper Project and is located on strike with Generation Mining’s Sally Deposit. The work was conducted during a five-week period from July 1 to August 7, 2022. Due to the rugged nature of the topography in this area and limited ground access, only a select number of sites were visited across the property. Additional numerous coincident magnetic-electromagnetic (EM) anomalies determined from Plato’s October 2021 Prospectair Geosurveys airborne geophysical survey will be targeted and sampled during the company’s upcoming phase 2 program.

A total of 50 closely spaced soil samples were collected for Soil Gas Hydrocarbon (SGH) analysis from an area of heavy overburden in the south-central portion of the Pic River claim group. In addition to the lack of exposed bedrock, a series of high priority EM and coincident magnetic anomalies, were outlined by Plato’s airborne survey in this particular area. Results from the SGH analysis indicate a significant copper-gold anomaly which will be tested by future diamond drilling.

A total of 53 rock sample grabs were also collected for standard geochemical analysis from locations across the property. Results ranged from 5 ppm to 411 ppm Cu and 3 ppb to 331 ppb Au. Both ground-based prospecting and limited helicopter support were used to access sites.

To address the access issue, during this initial groundwork, considerable time was spent clearing a 10 km trail along a historic logging road to provide access to the central portion of the property. This will assist in future planned exploration work, including prospecting and mapping, access for mechanized equipment (trenching and sampling) and diamond drilling.