New high-grade gold surface sample results from Ulupong gold discovery at the Lobo prospect within Red Mountain Mining’s flagship Batangas Gold Project have extended the zone of mineralization.  1

Ulupong is 120km south of Manila. A sampling program has been undertaken to define the area’s mineralization. Results include 6.63 grams/tonne gold and 67.4 grams/tonne silver from sub-cropping quartz-sulphide boulders about 800 metres along strike to the northeast of a trench where a recent result confirmed 1.4 metres @ 1.26 grams/tonne gold including 0.3 metres @ 5.3 grams/tonne. Previous sampling at this vein returned 0.45 metres @ 23.39 grams/tonne gold and 19 metres @ 9.77 grams/tonne gold, including 7 metres @ 23.58 grams/tonne.

The channel sampling results, combined with new soil sampling geochemistry, have defined a greater than 1km-long corridor of mineralization at the southwest end of the Ulupong structure. Drilling is now planned to test the high-grade veins and soil anomalies at Ulupong as part of the next phase of drilling.

Red Mountain’s managing director Jon Dugdale says, “The Ulupong discovery is starting to look very significant. High-grade gold, in outcropping veins, is supported by strong soil anomalies over a 1km strike length. We are excited at the prospect of drilling this new discovery, along with the other high grade, near surface targets at Pica and Japanese Tunnels.”

At Lobo, a series of epithermal lodes and breccias have been mapped over a combined strike length of more than 15km. Previous drilling has only tested about a 500 metre strike length of the interpreted lode structures, to shallow depth of less than 200 metres. High-grade gold shoots have been identified at the 45,000 ounce South West Breccia and the new West Drift gold discovery.

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