Mindoro Resources Ltd. (TSX VENTURE:MIO) (FRANKFURT:WKN 906167) has advised that Gold Fields has commenced drilling high-grade epithermal gold targets on Mindoro's Lobo gold-copper project, one of three projects comprising the Batangas joint ventures, Philippines.
Approximately 2,200 meters of drilling is planned initially. Two drill rigs have commenced drilling at the Old Lobo Mine. Drilling will test depth extensions of the Old Lobo Mine, and the immediately adjacent West Drift gold shoot on the Sampson epithermal gold-copper trend. The Sampson Trend is one of two gold-copper epithermal vein breccia trends at Lobo, together aggregating from five to seven kilometers of strike length. The Lobo Mine was operated by American interests in the 1960's and copper and gold concentrates sent to Japan.
In 2004, Mindoro scout drilling below the West Drift shoot, immediately adjacent to the Lobo Mine, and intersected 18.9 meters of 7.42 grams per tonne (g/t) gold (12 meters estimated true width), including 4 meters of 29.46 g/t gold, at a vertical depth of 120 meters in hole 38 (news release dated November 8th 2004).
In 2003-2004, Mindoro drill-defined a NI 43-101-compliant indicated resource at SW Breccia on the adjacent and parallel Camo Trend, with an estimated 270,000 tonnes at 6.49 g/t gold containing 56,380 ounces (oz) gold and additional inferred resource of 61,000 tonnes at 5.35 g/t gold containing 10,540 oz gold. The mineralization is near-surface and is open at depth and to the south-west.
The map accompanying this release on Mindoro's website shows the location of the Camo and Sampson epithermal vein breccia trends at Lobo, the location of the SW Breccia resource, Old Lobo Mine, West Drift, as well as other significant intersections made by Mindoro on its reconnaissance drill programs.
Gold Fields may earn up to 75 percent interest in each of Mindoro's El Paso, Lobo and Talahib Projects by sole funding exploration and a feasibility study on each project, subject to certain expenditures limits as described in Mindoro's May 5, 2009, press release.
Tony Climie, P.Geol, is Mindoro's Qualified Person as defined by National Instrument 43-101, who is responsible for monitoring the supervision and quality control of Mindoro's regional exploration programs and who has reviewed and verified the technical information contained in this news release.
Source: Mindoro Resources Ltd.