Mindoro Resources has intersected three high-grade gold intercepts on its Lobo project at Batangas. The infill and extension drilling program of epithermal gold at the Southwest Breccia has returned intercepts including 6.7 metres @ 10.7 grams/tonne gold, 7.45 metres @ 12.4 grams/tonne gold and 6 metres @ 8.8 grams/tonne gold.
The company says results from a deeper drill hole are expected to confirm an extension of the quartz-lode structure at depth.
Mindoro president Jon Dugdale says, “The latest gold results from the Southwest Breccia at Lobo confirm the continuity of the high-grade, gold shoot from-surface. With further results to come and drilling commenced at Kay Tanda, we look forward to upgrading resources and assessing development options for the Batangas gold projects.”
Eight drill holes for a total of 368 metres have been completed in the current program at Lobo. The 2005 NI 43-101 resource estimate for Lobo lists an indicated 270,000 tonnes @ 6.49 grams/tonne gold or 56,380 ounces of gold.
Drilling has now moved to Kay Tanda on the company’s Archangel tenement where holes will test for feeder structures underlying the resources. Previous intercepts in the area include 26 metres @ 4.03 grams/tonne gold and 28 metres @ 3.43 grams/tonne. Mindoro has outlined a cluster of epithermal gold-silver and porphyry copper-gold prospects along a 6km trend on the Archangel project.
In March 2010, Mindoro released a NI 43-101-compliant resource estimate for Kay Tanda, based on more than 200 drill holes to include a measured and indicated 9.879 million tonnes @ 1.06 grams/tonne gold and 4.50 grams/tonne silver containing 337,500 ounces of gold and 1,427,800 ounces silver.
Archangel also hosts multiple porphyry copper-gold prospects, associated with a strong 6km x 2km zone of chargeability induced-polarization anomalies, and extensive porphyry related alteration, which will also be evaluated.
Mindoro has 10 key porphyry copper-gold prospects at varying stages of advancement in the Philippines.
Meanwhile, Mindoro’s Philippine operating subsidiary, MRL Gold Phils Inc (MRL) has received the three top awards in the Exploration Category at the 58th Annual National Mine Safety and Environment Conference. The awards are the 2011 Presidential Mineral Industry Environmental Award, the 2011 Best Mining Forest Award and the 2011 Safest Exploration Award.
The awards were made by the Presidential Mineral Industry Environmental Award Selection Committee, led by the Philippines Department of Environment and Natural Resources Mines and Geosciences Bureau, Forest Management Bureau, Philippine Mine Safety and Environment Association, and the Chamber of Mines of the Philippines.