Infill and extension drilling at Mindoro’s Southwest Breccia (SWB) project at Lobo in the Batangas province has intersected a high grade gold shoot. The latest results from two further drill holes include 9 metres @ 2.14 grams/tonne gold including 2 metres @ 6.06 grams/tonne gold and 3 metres @ 4.59 grams/tonne gold including 2 metres @ 6.58 grams/tonne gold.
Mindoro’s chief executive officer Jon Dugdale says "These new results from Southwest Breccia at Lobo are very promising, and have further defined the SWB gold shoot. We look forward to the results of deeper testing designed to extend the high-grade resource."
The gold shoot was defined at the former Lobo mine, where copper was mined during the 1960s. High gold-copper-silver values occur at surface in a number of areas along these trends.
An initial resource estimate of the SWB in 2005 indicated the zone contained 270,000 tonnes @ 6.49 grams/tonne gold including 56,380 ounces of gold.
Results from the first drill hole announced in September revealed 9.05 metres at 6.56 grams/tonne gold from 17.80 metres depth, including 5.0 metres at 11.27 grams/tonne gold from 20.85 metres depth.
The nine-hole drill program commenced in August to collect samples for metallurgical testing. Drilling will continue at SWB until early November and then the program will move to test the high-grade feeder structures at Archangel - Kay Tanda, also in the Batangas province, where the company plans to test deeper high-grade gold feeder structures under the Archangel gold resources
Mindoro is focused on nickel, gold and copper-gold exploration and development in the Philippines. It has NI 43-101 Mineral Resource Estimates on its Agata nickel project, the Lobo and Archangel gold-silver projects and ten key porphyry copper-gold prospects at varying stages of development.