RTG Mining has delivered further high grade copper, gold and iron intersections in the North and South mineralized zones at the Mabilo project. The results seem to have advanced the geological understanding and highlight down dip potential and extensions to the system in these zones.
Continued diamond drilling has extended the strike of the South Mineralized Zone by 350 metres. Significant work has also been undertaken in re-logging of previously drilled holes to get better detailed geological understanding to help build 3D models and give better data for future targeting of holes.
Highlights of the ongoing drilling include: 47.05 metres @ 1.64 grams/tonne gold, 1.40% copper and 55.76% iron; 18.00 metres @ 3.12 grams/tonne gold, 1.25% copper and 42.16% iron; and 18.15 metres @ 3.29 grams/tonne gold, 0.80% copper and 41.73% iron in one hole; 17.40 metres @ 1.80 grams/tonne gold, 2.04% copper and 48.69% iron in another hole; 10.00 metres @ 1.16 grams/tonne gold, 0.47% copper and 43.64% iron in a third hole and 24.70 metres @ 3.41 grams/tonne gold, 2.98% copper and 51.56% iron in a fourth hole.
Mabilo is in Camarines Norte province of Eastern Luzon. It comprises one granted exploration permit of approximately 498 hectares and an exploration permit application of 2820 hectares. The project area is relatively flat and is easily accessed by 15km of all-weather road from the highway at the nearby town of Labo.
Drilling is currently focused on defining the SE strike and SW down dip extent of the large South Mineralized Zone and testing the strike extension of mineralization to the north and south of the North Mineralized Zone. Drilling has concentrated on the South zone which is substantially larger than the North zone.
RTG Mining is a mining and exploration company listed on the main board of the Toronto Stock Exchange and Australian Securities Exchange Limited. It is focused on developing the high grade copper/gold/magnetite Mabilo project and advancing exploration on the highly prospective Bunawan project, both in the Philippines, while also identifying major new projects which will allow the company to move quickly and safely to production.
RTG has an experienced management team previously responsible for the development of the Masbate Gold Mine in the Philippines through CGA Mining, and has B2Gold as one of its major shareholders.
Meantime, RTG has completed the implementation of the schemes of arrangement pursuant to the terms of the previously-announced Scheme Implementation Deed dated February 24, 2014 between the company and Sierra Mining Ltd to acquire all outstanding securities of Sierra. RTG has acquired all outstanding shares of Sierra and all outstanding listed options of Sierra. www.rtgmining.com
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