eResearch | Plato Gold Corp. (TSXV:PGC) is a Canadian junior mining exploration company. It is active with a niobium project in Canada (northern Ontario, near Marathon), a gold project near Timmins, and in Santa Cruz in southern Argentina.
The Company has three significant exploration projects:
- Good Hope Niobium Project, near Marathon, Ontario, 100% ownership;
- Timmins Gold Project, Ontario, with varying interests in four properties; and,
- Lolita Gold Project, Argentina, 75% interest.
Good Hope Niobium Property
The Good Hope Niobium Project is located in northern Ontario approximately 45 km northwest of Marathon and 28 km north of Highway 17 (Trans-Canada Highway), and is in close proximity to the Hemlo gold mining camp. The property consists of a total of 254 claims and about 5,100 hectares.
Niobium is a metal that is critical to the U.S. economy. Used as an additive in the steel making process to make an alloy that is stronger, lighter and resistant to corrosion, the resulting metal is in high demand by automakers, aerospace companies, and the pipeline industry.
In May 2018, the U.S. Department of the Interior published a list of 35 critical minerals, including niobium. As there is currently no U.S. niobium mine production, the mineral is a good example of a metal that could be affected by geopolitics. Brazil accounts approximately 90 percent of all niobium production with Canada as the next largest producer. As the U.S. looks for more domestic sources, this could benefit Niobium deposits in North America.
Timmins Gold Project
The Timmins Gold Project is located in northern Ontario, is early stage, and encompasses four properties: (1) Guibord (50%); (2) Harker (20%); (3) Holloway (100%); and (4) Marriot (100%). The Project comprises three leases and one pending lease (Marriott), and 98 claims for a total of 1,658 hectares.
Argentinian Gold Property
The Lolita Project, also early stage, is located in Santa Cruz Province, Argentina, and comprises 9,672 hectares. The property is drill-ready subject to available financing or an option agreement with another company. The environs include three adjoining concessions where a few international exploration companies are active.
Market Disconnect
In early July of this year, the Company closed a non-brokered private placement by selling 3,500,000 shares at $0.10 per share for gross proceeds of $350,000. The funds are to be used primarily for advancing the Good Hope Project. Significantly, the capital raise was accomplished at $0.10 per share when the shares were, and still are, trading in the market at only $0.02 per share.
You can access our Company Update Report here: PGC-102319-P_FINAL
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- Plato Gold Corp. (TSXV:PGC)
- platogold.com
- Headquartered in Toronto, Canada, Plato Gold Corp is a junior exploration company, engaging in the exploration, evaluation, and development of rare earth mineral and gold properties in Canada and Argentina.
- Plato Gold Corp is currently trading at $0.02 with a market cap of $4.3 million.
