Pluton Resources Limited (ASX:PLV) Received Cethana Tenement Copper-Gold-Molybdenum Assay Results

Melbourne, Sep 23, 2010 AEST (ABN Newswire) - Pluton Resources Limited (ASX:PLV) has received final assay results from angled drill hole CETD3 at the Cethana tenement (EL29/2006) in North West Tasmania.

Background

The large (1km x 1.5km) high intensity Cethana Magnetic Anomaly is being drill tested for concealed porphyry-copper-gold mineralisation. Drilling previously conducted by Pluton in 2008 identified alteration in volcanic rocks above the Cethana Magnetic Anomaly typical of near porphyry settings.

A geophysical survey in 2008 defined a discrete zone of anomalous chargeability (The Campbell's Reward Zone) and is being tested by the current two diamond drill hole program.

Results

Drill hole CETD3 intersected low grade copper-gold-molybdenum mineralisation over a 61 metre down hole interval associated with the Campbell's Reward Zone from 221m to 282m. The zone of mineralisation is located above a 7 metre wide fault structure that was intersected from 278 to 285 metres down hole.

The patchy nature and low grade of the copper-gold-molybdenum mineralisation is interpreted to represent leakage along the fault structure from a concealed mineralisation source at depth within the Cethana Magnetic Anomaly.

A summary of the elevated copper-gold-molybdenum values intersected in CETD3 is given in the following table (see link at the bottom).

The second angled diamond drill hole of the program (CETD4) was terminated at 673 metres.

The hole targeted both the down dip projection of the Campbell's Reward Zone and coppergold-molybdenum mineralisation previously intersected in CETD1 (18 metres @ 0.10% copper, 0.08 g/t gold, 2.6 g/t silver and 120 ppm molybdenum).

The Campbell's Reward Zone was intersected in CETD4 across a 45 metre wide interval from 384 to 429 metres down hole with significant disseminated pyrite and patchy disseminated chalcopyrite mineralisation. Narrow zones of sheeted magnetite-pyrite-chalcopyrite veins interpreted to represent the mineralised zone previously encountered in CETD1, were intersected in the last 30 metres of the drill hole from 643 metres to 673 metres depth.

Assay results are pending for CETD4.

Said Managing Director, Mr Tony Schoer, "Once the final assays are received from CETD4, it is our intention to review the potential of the Cethana tenements for bulk tonnage, porphyry style copper-gold mineralisation. The review will include a recommendation to the Board regarding the future of the Tasmanian assets".

For the complete Pluton announcement including tables, please refer to the following link:

http://www.abnnewswire.net/media/en/docs/63786-ASX-PLV-342421.pdf

Contact

Mr. Tony Schoer Managing Director and Chief Executive Officer Mob: +61-0411-232-711 Email: tschoer@plutonresources.com