Pluton Resources Limited (ASX:PLV) Commences Diamond Drilling At The Isthmus Region, Irvine Island

Melbourne, Aug 23, 2010 AEST (ABN Newswire) - Pluton Resources Limited ("Pluton") (ASX:PLV) is pleased to announce that it has commenced diamond drilling at the Isthmus Region on Irvine Island, Western Australia (E04/1172).

Drill hole 10DDH026 was collared during the day shift on 22nd August with a planned depth of 175 metres. The drilling program will comprise a minimum of seventeen diamond drill holes for approximately 2,700 metres advance. The program will further test the potential of the high grade iron mineralisation that may be suitable as Direct Shipping Ore (DSO) that outcrops at the Isthmus Region over an area of approximately six hundred metres by seventy five metres.

Outcrop sampling conducted in late 2007 across the Isthmus Region returned up to 67.6% Fe from a suite of sixteen surface samples (ASX announcement, 19th November 2007). One diamond drill hole that was abandoned prematurely in late 2008, due to the onset of the cyclone season, included 8 metres @ 62.5% Fe from ten metres below surface (ASX announcement, 9th February 2009).

The outcropping iron mineralisation at the Isthmus Region is additional to the Inferred Mineral Resources currently defined at the Hardstaff Peninsula (ASX announcement, June 4th 2010). The drilling program will also include drilling of diamond core for metallurgical test work.

Managing Director, Mr. Tony Schoer said, "We are extremely excited to have commenced drilling operations at the Isthmus Region where we have previously intersected high grade iron mineralisation of direct shipping grade in both drill core and surface sampling from an area that has no overburden".

"If we are able to define a significant area of high grade iron area at the Isthmus Region, it would further add value to the Project. It is our intention to continue drilling operations at the Isthmus until the completion of the planed drilling program and we look forward to releasing regular updates on work completed and assay results."

Contact

Tony Schoer Managing Director and Chief Executive Officer Tel: +61-411-232-711 Email: tschoer@plutonresources.com.