Vancouver, British Columbia, Sept. 23, 2024 – Planet Green Metals Inc. (CSE: PGR) (“Planet Green” or the “Company”) is pleased to announce the staking of new claims that add to its Sheraton Property, east of Timmins, Ontario. Thirty-six (36) cells were staked, totaling an area of 680 hectares, and increasing the Sheraton property by 36%. The new contiguous claims extend the property to the southwest, and cover a wide East-West transect of prospective host rocks.
The newly acquired ground aligns with Planet Green’s exploration model for VMS-style mineralization, as outlined in the company’s previous release (July 2nd, 2024) for the Sheraton Property. These claims have been incorporated into the option agreement with Perry English (1544230 Ontario Inc.) and Gravel Ridge Resource.
The property area is characterized by a rhyolite / intermediate volcanic contact, which may relate to a significant volcanic centre that is prospective for structurally controlled VMS mineralization. This is underscored by the historical Cross Lake Minerals zinc, silver and copper drill intersections. Faults orthogonal to the axis of rhyolite contact could be controls on mineralization in the form of traps for sulfide accumulation on the ancient seafloor.
The presence of a troctolite dike that crosscut the rhyolites also has potential for magmatic sulfide-hosted nickel copper PGE mineralization.
Jeremy S. Brett, President and Chief Executive Officer, commented, “We’re delighted to announce that we have significantly expanded our Sheraton Property through strategic claim staking with Perry English who is a highly respected Ontario-based prospector. He is a co-founder of PGR, a shareholder and a valued member of our Advisory Board. This new acquisition aligns perfectly with our VMS-focused exploration model for the region, driven by our understanding of the area’s lithological and structural controls.”
He added, “In addition to enhancing our VMS potential, this expansion introduces promising nickel-copper opportunities, further strengthening our commitment to critical minerals. Notably, this property will be integrated into our existing royalty-free agreement with Perry English / Gravel Ridge, providing Planet Green Resources with the flexibility to structure its own royalties moving forward.”
New Sheraton Map Highlighting Newly Acquired Claims:
Figure 1: Newly staked claims form August 2024 shown in blue, along with the original Sheraton Property claims in red (claims adjusted to current holdings). The new claims will be added to the existing option agreement and are royalty free.
