A 19-metre intersection of epithermal quartz-barite containing 9.77 grams/tonne gold has been confirmed at Red Mountain Mining’s Lobo prospect within its flagship Batangas Gold Project. The vein includes 7 metres @ 23.58 grams/tonne gold and a further 0.8 metre section @ 94.78 grams/tonne gold.  1

The vein is at the western end of an extensive zone of anomalous gold soil geochemistry that extends for more than 2km in a northeast-southwest direction, sub-parallel to the South West Breccia and West Drift epithermal gold vein systems that host high-grade gold resources and targets respectively. It is the fifth major epithermal vein system to be identified at Lobo.

Red Mountain’s executive chairman Neil Warburton says, “The new high-grade gold vein discovery at Ulupong is a very exciting result which opens up potential for the discovery of high-grade shoots on a completely new system. Extensive surface mapping and trenching will continue in this area with follow up drilling planned in the near future. This new discovery along with extensions at Pica has extended the total strike length of the Lobo epithermal veins from 10km to more than 15km.”

This follows an extension of the high-grade zone at the West Drift lode system after aggressive drilling in recent weeks. Highlights from the six intersections include 5.2 metres @ 6.05 grams/tonne gold from 138.25 metres including 1.05 metres @ 16.97 grams/tonne gold and 4 metres @ 3.17 grams/tonne gold from 196 metres depth downhole.

“The latest intersections have extended the high-grade gold target zone and confirmed a potential shallow plunging corridor within which multiple high-grade gold shoots are expected to occur. Deeper drilling with two rigs is under way to test the trend of increasing grade and thickness with depth with first results from this exciting phase due in coming weeks,” says Neil Warburton.

Red Mountain’s drill program at West Drift is targeting high grade gold to convert the gold mineralization to a JORC-compliant mineral resource inventory. A total of 11 holes for 2158 metres have been completed to date and the program is ongoing at the project site which is 100km south of Manila.

www.redmm.com.au

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