news90 CC 26-Oct-05 at 10:16:00 10:20
Plexmar Resources Inc.: More Details on Last Press Release
Symbol: PLE
Industry: MNG
Subject: DRM
NEWS RELEASE TRANSMITTED BY CCNMatthews
FOR: PLEXMAR RESOURCES INC.
TSX VENTURE SYMBOL: PLE
OCTOBER 26, 2005
Plexmar Resources Inc.: More Details on Last Press Release
QUEBEC CITY, QUEBEC--(CCNMatthews - Oct. 26, 2005) - Plexmar Resources
Inc. (TSX VENTURE:PLE), would like to provide more information and
clarifications pertaining to its Oct.11, 2005 press release.
Plexmar has retained the consulting services of M. Cesar Orosco, a
petroleum geologist with 30 years experience in the oil & gas sector to
evaluate oil & gas projects. He has worked for numerous large oil & gas US
corporations as exploration manager and spent most of his career in South
America. M. Orosco is a member of the American Association of Petroleum
Geologists and is a Qualified Person as per NI 51-101.
Plexmar is pleased to announce that it is presently evaluating many large
oil and gas projects located in North and South America.
Plexmar remains dedicated to the development of its gold prospects in Peru
and is currently evaluating other investment opportunities in the gold
sector. The exploration programs will resume shortly after the closing of
the Private placement announced on Aug.26,2005.
In order to increase shareholder value, the creation of an oil & gas
subsidiary owned 100% by Plexmar is being contemplated. Plexmar will keep
its shareholders informed of the oil and gas projects in-house evaluations
shortly.
Bolsa del Diablo project
The company would like to clarify that the technical report of Grond
(2005) indicated that the veins that the artisanal miners are working are
"more reminiscent of low sulphidation epithermal systems".
The artisanal mining activity previously announced is presently occurring
at the Bolsa del Diablo zone, an area approximately 4km2 roughly centered
within Plexmar's main claim block. The zone is characterized by low to
intense silica and clay hydrothermal alteration. Within the zone there is
a 3km extent where numerous gold rich quarts veins occur and several
active artisanal workings exist.
The company is pleased to provide more detail of its surface sampling in
the Bolsa del Diablo zone. The company conducted surface sampling of the
zone in 2004 and January 2005.
Sixty four rock samples were collected over a length of 2km, including
chip, channel, grab rock samples from outcrop as well as dump samples from
artisanal workings. Three mineralization styles were sampled: 1) quartz
veins from artisanal workings, 2) argillically altered dacite with minor
quartz veining, and 3) highly silicified unaltered dacite. Gold values
ranged from background to 119 g/t gold. The high value was from a selected
grab sample of quartz vein material taken at the dump of an artisanal
working. Argillically altered dacite returned assay values typically under
2 g/t gold, and represent a low grade high tonnage potential in the area.
Most samples from the highly altered dacite were anomalous (greater than
50 ppb Au).
Samples were shipped to and processed by ALS Chemex laboratory in Lima.
Peru.
Phase 1 recommendation of Grond (2005) will start shortly. The Phase I of
the exploration program consists geologic mapping, geochemical sampling
and trenching. This program will be followed by ground geophysics and
drilling.
Helen Grond, P.Geo., is the QP for the Bolsa del Diablo project, and has
reviewed this news release
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Plexmar Resources
Guy Bedard
President
(418) 658-6776
(418) 658-8605 (FAX)
info@plexmar.com
website: www.plexmar.com
or
Paradox Public Relations
1-866-460-0408
(514) 341-0408
INDUSTRY: MNG
SUBJECT: DRM
-0-