SAINTE-FOY, Quebec, Jan. 19, 2007 (PRIME NEWSWIRE) -- Plexmar Resources Inc. (TSX-V:PLE) is pleased to report recent exploration results from the Bolsa del Diablo project located in northern Peru adjacent with the Ecuador border.
The Reduced Polarization Program results chart is available at http://www.primenewswire.com/newsroom/prs/?pkgid=3228
On Bolsa del Diablo, exploration work has resumed after a 3 week break for the holidays. The induced polarization program is still on-going. Because of the size of the area being covered by the ground geophysics, a second transmitter is being added to accelerate the data acquisition process in order to locate drilling targets.
On IP line 14800E which is 3.3 km long, a section of elevated chargeability measuring at least 1.5 km wide is present. In general, the data indicates that the higher chargeabilities are located at depth greater than 50 meters. The chargeability-resistivity relationship is consistent with disseminated sulphide signatures, and Plexmar believes that it is related to an alteration system responsible for the gold mineralization found on the property. However there is a 200 meters long section where the elevated chargeabilities are shallower than 50 meters where numerous gold rich veins are present and on strike with the adjacent Principal Vein. This Principal Vein is the longest know vein on the property and is a major source of gold for the artisan miners in the area. The IP line 14800E section can be found attached to this press release and on www.plexmar.com
"The size of the anomaly on line 14800E is enormous and although it is yet to be fully defined, it bears the signature of a large disseminated sulphides body," comments Guy Bedard, president.
As soon as the IP survey is completed, Company's geologists will have all the data available to isolate the best drill targets. The IP program is finally expected to be completed by the end of February and the drilling program will start soon after.
For the past months, geological crews have been busy doing a geochemical soil and PIMA surveys in order to produce detailed alteration and mineral distribution maps. These maps will be available shortly and displayed on the website.
Tabulated below are sampling results carried out on newly found vein type structures or altered volcanics. These new informal workings are mostly located in the northern section of the Angolos concession some 1 to 1.2 km northwest of the principal vein where most of the informal workings are located.
VEINS
Over 125 samples were taken in high grade veins measuring 0.15m to 1.0m wide with lengths yet to be defined. Tabulated below are some of the best samples.Channel samples cover a 2m horizontal length of the vein.
Sample No. Au g/t Ag g/t Type Comments
---------- ------ ------ ------- ------------------------------
PBD-095VN 128.5 125.0 channel Qtz filled vein with limonite,
hematite, massive qtz, sericite
and lots of oxide.
PBD-121-VN 99.6 19.3 channel Qtz filled vein with goethite,
hematite, massive qtz, sericite
and fractures filled with
oxides
PBD-082A-VN 97.7 18.2 channel Qtz filled vein with goethite,
hematite, massive sericite and
fractures filled with oxides
PBD-070C-VN 82.2 192.0 channel Qtz filled vein with goethite,
hematite, limonite sericite and
fractures filled with oxides
PBD-070AVN 71.9 33.0 channel Qtz filled vein with goethite,
hematite, limonite sericite
and fractures filled with
oxides
PBD-082-VN 59.2 9.3 channel Qtz filled vein with goethite,
hematite, massive qtz,
fractures filled with oxides
PBD-095B-VN 49.3 17.3 channel Qtz filled vein with goethite,
hematite, massive qtz,
fractures filled with oxides
PBD-071-VN 48.8 17.8 channel Qtz filled vein with goethite,
hematite, limonite sericite and
fractures filled with oxides
PBD-081A-VN 45.7 142.0 channel Qtz filled vein with goethite,
hematite, massive qtz,
fractures filled with oxides
PBD-062A-VN 45.0 15.9 channel Qtz filled vein with sericite,
veinlets with oxydes
PBD-081-VN 44.5 95.6 channel Qtz filled vein with goethite,
hematite, massive qtz,
fractures filled with oxides
PBD-070B-VN 43.1 87.1 channel Qtz filled vein with goethite,
hematite, massive qtz,
fractures filled with oxides
PBD-091B-VN 40.7 62.3 compos. Qtz filled vein with goethite,
hematite, massive qtz,
fractures filled with oxides
PBD-081B-VN 36.9 56.0 channel Qtz filled vein with goethite,
hematite, massive qtz,
fractures filled with oxides
PBD-092A-VN 22.7 14.5 channel Qtz filled vein with oxides,
goethite, hematite, silica
PBD-091A-VN 21.8 70.2 compos. Qtz filled vein with oxides,
goethite, hematite, silica
PBD-122-VN 21.3 40.3 channel Qtz filled vein with limonite,
hematite, massive sericite
VOLCANICS
Some 25 samples were taken in the altered volcanic rocks. Samples returned up to 21.0 g/t Au. Below are some of the best samples
Sample No. Au g/t Ag g/t Type Comments
---------- ------ ------ ----- -----------------------------
PBD-090-RX 21.1 145.0 chip red yellowish volcanic rock
with qtz veinlets, stockwork
PBD-093-RX 9.41 80.7 channel shear zone. Volcanic rocks
argilitized
PBD-088-RX 3.73 4.2 channel red volcanics, fractures filled
with oxides
PBD-095-RX 0.57 4.1 channel red volcanic rock argilitized
with qtz and fractures filled
with FeOH
Two trenches are currently being dug and sampled. They both measure 350m long with dimensions of 1m deep x 1m wide. Samples will be taken very 2 meters. One trench is located on the Santa Rosa de Suyo and the Julia Elena Primera concessiona where silica caps and phallic alterations have been located. Results will be communicated as soon as they become available.
All samples are analyzed by ALS Chemex in Lima. M. Martin St-Pierre acted as the consulting geophysicist and M. Guy Bedard acted as the Q.P. for the preparation of this release.
On Bolsa del Diablo
Plexmar controls over 220 km2 of land in Northern Peru near the border with Ecuador. Over 400 artisan miners are pulling gold on a daily basis from trenches or pits located in an area measuring approximately 6km2 roughly centered within Plexmar's main claim block. The zone is characterized by low to intense silica and clay hydrothermal alteration. All the volcanic rocks in the area of interest show pervasive argillic alteration and have developed very intense stockwork structures. Gold mineralization occurs partly as fracture fillings in the stockwork and also as dissemination throughout the rock. Limonitization is pervasive throughout the rock. This intense stockwork was observed in numerous places on the property.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.
