Mindoro Resources has received positive results from its Agata South nickel laterite drilling program, with strong nickel and iron grades intersected at surface and thicker than expected limonite and saprolite profiles.
The highlights are 17.05 metres @ 1.02% nickel, 10.50 metres @ 1.06% and 11.70 metres @ 1.07% nickel, all from surface. A high iron one was also intersected from surface - 4.7 metres @ 50% iron, 0.59% nickel and 0.11% cobalt.
Agata South is part of the larger Agata Project in the Surigao nickel district of northeast Mindanao, which hosts the NI 43-101 compliant Agata mineral resource several kilometres to the north. Agata South encompasses three areas of nickel laterite mineralization, with the southern-most of those initially drilled at 100 metre x 100 metre centres, now with in-fill drilling under way at 50 metre x 50 metre centres.
Mindoro’s president and CEO Jon Dugdale says, “We are very pleased with the strong nickel and iron results generated from drilling at Agata South. Upon completion of in-fill drilling in July, we will be in a position to upgrade the resource at the Agata Nickel Project. The upgraded resource will be incorporated into the pre-feasibility study production schedule and the near-surface high-iron material will be evaluated for early stage production.”
A total of 645 holes, for 7045 metres of a 10,000 metre program to systematically test regional nickel targets, have been completed. Upon completion of the Agata South program, drilling will return to the northern laterite targets, such as San Jose.
Agata has an NI 43-101 measured and indicated resource of 32.6 million tonnes @ 1.04% nickel for 340,000 tonnes contained nickel. Mindoro also has NI 43-101 resource estimates on its Lobo and Archangel (Kay Tanda) gold-silver projects, as well as an additional 22 porphyry copper-gold prospects. Senior gold producer Gold Fields may earn 75% interest in three of Mindoro’s projects at Batangas through direct project expenditure.