80.1 Metres of 1.00 G/T Gold Including 23.7 Metres of 2.15 G/T Gold Intersected at Golden Loon Project, Southern British Columbia

Planet Exploration Inc. (TSXV:PXI) intersected 80.1 metres of 1.00 g/t gold including 23.7 metres of 2.15 g/t gold in its Phase 2 diamond drill program at the Golden Loon project near Kamloops, southern British Columbia.

As quoted in the press release:

As drilled, the zone extends for at least 170 metres down-plunge from surface. Follow-up drilling and three-dimensional modeling are underway to define its true thickness and width. Drill holes GL-11-001 to 006, completed during Phase 1 drilling in fall 2011 and previously reported (see Planet news release of January 10, 2012), are interpreted to have intersected the upper portions of this zone, which has now been extended.

At least three of these thickened, shallowly-plunging zones are interpreted to have been intersected by the sixteen-hole, 700 metre striking drill fence completed during Phase 1 drilling. This tested a small portion of the eight-square kilometre gold-in-bedrock and soil system now defined at the Golden Loon project. All significant gold-in-soil anomalies drill-tested to date have been underlain by gold-in-bedrock mineralization. Planet will continue step-out drilling across this broad target throughout 2012, which is believed to be underlain by a network of frequently mineralized structures spanning several kilometres of the Golden Loon property.

Planet Exploration President, Chris Taylor, said:

“We are very pleased to show the significant potential of this easily accessed, rapidly growing project,” “The Company plans to continue aggressive exploration of this emerging multi-kilometre gold system throughout 2012.”

Click here to read the Planet Exploration Inc. (TSXV:PXI) press release
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