Mindoro Resources has announced encouraging results from the drilling program at the Agata South nickel laterite mineralization, having intersected strong iron and nickel grades at surface and broader than the anticipated profiles of saprolite and limonite.
Iron grades at Agata South
The location of Agata South, which is a part of the Agata Project, is in the Surigao nickel district of North-East Mindanao in Philippines and has the NI 43-101 compliant Agata mineral resource for many kilometers to the north. Agata South includes three nickel laterite mineralization areas, in which the southern most of the area is primarily drilled at 100 m x 100 m centers and the in-fill drilling is currently ongoing at 50 m x 50 m centers.
The CEO and President of the company, has stated that Mindoro has received strong iron and nickel drilling results from the Agata South. When the company completes the in-fill drilling program in July and it will be in a state for upgrading the resource at the Agata Nickel Project. Mindoro will integrate the upgraded resource into the planned prefeasibility study and assess the near-surface high-grade iron material for the early production stage.
Mindoro has completed drilling of 7,045 m of a 10,000 m program, totaling 645 holes, to scientifically examine regional nickel targets. The company will intersect 0.59% Ni, 0.11% Co, 50% Fe over 4.7m and 0.96% Ni over 12.1 m from the surface of hole ASL-1, 0.53% Ni, 46% Fe over 4.75m and 1.02% Ni over 17.05 m from surface of hole ASL-3, 0.77% Ni, 0.11% Co, 47% Fe over 7.0m and 0.93% Ni over 14.30m from surface of hole ASL-8, 1.07% Ni over 11.70 m from surface of hole ASL-10.
When this drilling program at Agata South is completed, it will go back to the northern laterite targets like San Jose.
Source: http://www.mindoro.com/