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Plato Gold inks option deals for Good Hope niobium project in Ontario

Plato Gold Corp. said May 31 that it entered into two option deals to acquire the Good Hope niobium project in Ontario.

The property comprises 19 claims, 263 claim units and 4,208 hectares in Killala Lake Area and Cairngorm Lake Area Townships, and is near the Hemlo gold mining camp.

Under the agreement for the KL226 claims, the company is required to pay a total of C$106,600 and issue 7.5 million shares to the optionors over a four-year period.

For the KL37 claims, meanwhile, Plato Gold is required to pay a total of C$2,000 and issue 1.6 million shares over the same period.

Additionally, the company must incur combined exploration expenditures of C$400,000 on either or both the KL226 and KL37 properties.

A data compilation on the property was completed to use for exploration targeting and program planning. Geological mapping and sampling is slated for June to identify additional niobium mineralization and collect more data for drill targeting for the proposed August drill program.