Magnetic Airborne Survey And Drill Hole Targets In Marriott Property

TORONTO – Plato Gold Corp. has identified gold drill hole targets on its Marriott Property, Matheson, Ontario as a result of interpretation of a 2022 Unmanned Aerial Vehicle (UAV) magnetic airborne geophysics survey. The drill hole targets correspond to magnetic highs anomalies and the intersection of regional E-W faults and NE-SW and NW-SE cross faults. The drill targets are within the Destor-Porcupine Deformation Zone of the Abitibi Greenstone Belt which is known to regionally host gold mines.

The total magnetic intensity map shows three magnetic high anomalies: one is a continuous E-W magnetic anomaly which corresponds to the iron-rich tholeiitic basalts according to the local geology map. There is a second E-W magnetic anomaly along Highway 101 which also corresponds to iron-rich tholeiitic basalt. There is a third E-W magnetic anomaly in the SW corner of the Property. The first vertical derivative and the total magnetic intensity reduced to pole maps were used to identify interpreted regional and cross faults. The E-W regional faults correspond to the lithology boundaries between the iron-rich tholeittic basalt and the magnesium-rich tholeiitic basalt according to the local geology map and the Destor-Porcupine Deformation Zone. Cross cutting faults were identified with three orientations: NE-SW, NW-SE and N-S using the UAV magnetic data on the Marriott Property. Regionally cross faults were previously identified with these orientations but not in as much detail on the Property as from this UAV magnetic survey.

Pioneer Exploration Consultants Ltd’s (“Pioneer”) conducted an airborne magnetic survey using an Unmanned Aerial Vehicle (UAV) on the entire Marriott Property between Feb. 13 and Mar. 4, 2022 on behalf of Plato Gold. The purpose of this survey was to obtain better resolution magnetic data than the historic surveys. Data collection for this survey area was conducted at multiple resolutions: 25 m spaced lines with 250 m spaced tie lines for the Northern Survey area, and 50 m spaced lines and 500 m tie lines for the Southern Survey area. Line direction was N-S (000°) and the tie lines were E-W. The total line km is 573.593. The nominal magnetic sensor altitude above ground level (AGL) was set to 40 m.