Plato Gold Acquires Ruffle Lake Property in Northern Ontario
Plato Gold, an exploration company with properties in Northern Ontario and Santa Cruz, Argentina, has signed a binding agreement to acquire a 100% interest in 42 unpatented cell claims in the Killala Lake Area Townships, Thunder Bay Mining District, Ontario. This acquisition, known as the Ruffle Lake Property, is accessible via an all-weather road 35 km north of the Trans Canada Highway 17 and is contiguous to Plato's Good Hope Niobium Project.
The Ruffle Lake Property lies adjacent to the Prairie Lake Carbonatite Complex, known for hosting rare earth elements and critical minerals such as niobium, phosphate, and yttrium, essential for electric vehicle and clean energy technologies. The complex's emplacement is related to a major rifting event along the north shore of Lake Superior, which developed a prominent fault system responsible for several carbonatite and alkaline intrusions in the area.
Preliminary exploration by the Wahl Group has identified two sites within the Ruffle Lake Property with significant mineralization. Analysis at these sites returned up to 30% P2O5, 4558 ppm yttrium, and various rare earth elements. A recent visit to one of the sites revealed a substantial area with a medium to high radiometric signature. Plato Gold plans a detailed radiometric survey to define the extent of the carbonatite bodies, followed by targeted stripping, trenching, mapping, and sampling.
Anthony Cohen, President and CEO of Plato Gold, stated, "Plato Gold is pleased to add these contiguous claims to the Company's Good Hope Project with potential for additional niobium, phosphates, and both light and heavy rare earth elements."
