Projects / Golden Loon
The Golden Loon property is located an hour north of Kamloops in South Central, British Columbia. The Yellowhead highway, rail line and power lines pass along the eastern boundary of the property.
The property is host to both a major gold bearing hydrothermal system and a layered ultramafic Nickel-Colbalt-PGE bearing system.
Planet Exploration has an option to earn up to 100% interest through its agreement with privately-owned Tilava Mining Corporation.
Exploration work in 2011 outlined an eight square kilometre gold-in-soil anomaly and returned bedrock grab samples of up to 20 grams per tonne gold.
Test drilling of a small portion of the gold-in-soil target has resulted in the discovery of a gold-bearing multi-structured system with assays of up to 1.05 grams per tonne gold over 39.4 metres, including 3.4 grams per tonne gold over 5.39 metres. Numerous targets remain to be drill tested, including all of those which have produced high-grade gold grab samples.
Drilling in 2008 has indicated the potential for a open pitable, bulk tonnage Nickel-Colbalt-PGE deposit. Definition drilling and metallurgy is expected to be completed on this major target in 2012.