Red Mountain Mining has received very high-grade silver results with good gold credits from channel sampling of outcropping lode mineralization at the new Lumbangan Ridge target within the Archangel prospect of the Batangas Gold Project, 120km south of Manila.
Archangel includes the majority of mineral resources on the Batangas project and lies 6km to the east of the high grade Lobo prospect. There are indicated and inferred resources of 5.59 million tonnes @ 2.0 grams/tonne gold for 363,000 ounces of gold.
The peak surface channel sampling intersections include 4 metres @ 372 grams/tonne silver and 2.2 grams/tonne gold, including 1 metre @ 1415 grams/tonne silver and 8.0 grams/tonne gold; and 2 metres @ 449 grams/tonne silver and 1.4 grams/tonne gold, including 1 metre @ 758 grams/tonne silver and 2.2 grams/tonne gold.
These exceptional results are from a northwest-southeast trending lode that is still open along strike and at depth.
A second northwest-southeast trending lode at Gitna Creek, 1km to the north of Lumbangan Ridge, included an intersection of 8 metres @ 137 grams/tonne silver and 0.46 grams/tonne gold.
Red Mountain’s managing director Jon Dugdale says, “We are very pleased with these new, high-grade silver-gold intersections from a new target, this time near the Archangel resources. This further confirms the outstanding prospectivity for the discovery of high grade mineralization at surface over the entire Batangas project.
“The discovery of these new zones opens up potential to define additional, high grade silver-gold resources, and continue to upgrade the at-surface mineral resource base at the Archangel prospect.”