PXI.V Planet Exploration Inc. | Stock Discussion Forums

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy
PXI.V Planet Exploration Inc.

An SI Board Since May 2003

Posts	SubjectMarks	Bans
1	2	0

Emcee: Postman	Type: Unmoderated

Introduction Compact

Planet Exploration (PXI.V)
--------------------------

Planet Exploration Inc. and Goldcorp Inc. have formed a strategic alliance to exploit Planet's Red Lake gold discovery.

Goldcorp will spend $2.55 million over three years to earn a 50% interest in Planet's property and will then hold an option to increase their position to 60%.

In addition Goldcorp has directly invested $500,000 into Planet via private placement.

------------------------------------------

Planet Exploration is a well financed junior mineral exploration company with gold projects in Canada and Mongolia.

Current financing will enable the Company to fully exploit its current properties and to continue the evaluation of new opportunities.

Planet's previous drill programs have resulted in the discovery of multiple wide low grade and relatively narrow high grade gold mineralization zones including mineralized gold intersections of greater than 120 meters.

The host rocks of the gold zones are comprised of sericite and quartz sericite schists mineralized with pyrite and quartz veinlets. Goldcorp and Planet are formulating an aggressive, multi-faceted exploration program that includes diamond drilling, IP (induced polarization) and ground magnetics.

Planet's gold zones all remain open along strike and as to depth. Over 75% of the known strike length remains unexplored. Goldcorp and Planet will also explore new areas of interest on Planet's property. To date, exploration of Planet’s property has been concentrated within approximately 18 hectares of a total 4,224 hectare holding.

Planet's strike zone hosts both disseminated and vein type gold bearing structures. Regionally, production has come from both of these formation types. The strike is on trend with some of the world's most successful gold mines that have together produced and/or currently have in reserve over 23 million ounces of gold including Goldcorp's Red Lake Mine, Placer Dome's Campbell Mine and the Cochenour Mine. Comparison to other world class gold districts strongly suggest that more significant reserves have yet to be discovered in Red Lake.

The next phase of a multi-faceted, extensive exploration program will commence in the immediate future.

The company has strategic properties in two of the world’s most prolific gold regions: Red Lake, Canada and South Gobi, Mongolia.

planetexploration.info

Go to reply# or date (mm/dd/yy):