A diamond drilling program at RTG Mining’s Bunawan Gold Project in the Philippines has returned high grade intersections and identified a new style of mineralisation. The second phase of reconnaissance drilling included six holes for 1789.6 metres.
The program was targeted at Induced Polarisation responses coincident with magnetic low signatures and anomalous surface gold geochemistry. Targets also included extensions of previously identified mineralisation/geology.
Best results were: 2 metres from 62 metres @ 2.94 g/t gold and 3.6 metres from 163.4 metres @ 4.58 g/t; 3 metres from 108 metres @ 1.05 g/t; 2.15 metres from 262 metres @ 2.16 g/t; and 9 metres from 39 metres @ 2.02 g/t, including 4 metres from 44 metres @ 2.85 g/t, which included 3 metres from 45 metres @ 3.43 g/t and 1 metre from 46 metres @ 6.78 g/t.
RTG says the results further confirm the presence of breccia/epithermal vein systems within and below the diatreme that is similar geologically to the nearby Co-O vein system which is being mined by Medusa Mining.
It says that the discovery of a favourably mineralised dacite host in one hole also adds to the increased mineral potential of Bunawan as at is geologically similar to the nearby high-grade artisanal mining area. Hydrothermal alteration assemblage in the dacite suggests that it may be a component of a high-sulphidation system in the general area.
RTG says with the various geological conditions identified, the region has the potential to see another major gold discovery.
Bunawan is in the east of Mindanao in Agusan del Sur province, about 190km north-northeast of Davao and adjacent to the Davao-Surigao highway. It is centred on a diatreme intrusive complex approximately 5km northeast of the Co-O mine.