Mindoro Resources has identified three gold intersections through expansion and infill drill program conducted at the Southwest Breccia (SWB) epithermal gold shoot, which is located at the Lobo project in the Philippines.
The company has intersected 5.72 g/t and 5.25 g/t gold over 1.00 m and 1.52 g/t gold over 18.35 m in the hole LB63-11, 21.1 g/t gold over 2.00 m and 11.1 g/t gold over 4.90 m in the hole LB64-11, 11.8 g/t gold over 1.95 m and 4.67 g/t gold over 7.75 m in the hole LB65-11.
Jon Dugdale, CEO and President of Mindoro, stated that the final drilling results from Lobo’s Southwest Breccia shoot has validated the high-grade mineralization located near the surface and the mineralized shoot’s deeper expansions present in the hole LB 63 to a depth of more than 150 m. The focus of the upcoming campaigns will be on the outcrops of the down dip of the mineralized shoot.
The company has currently drilled eight holes at SWB and has completed the infill campaign to a grid of around 15 x 15 m area. It will be allowed to improve the resource calculation previous to the beginning of the development of scoping studies.
The company is drilling at Batangas and Archangel and examining the inferred feeder formations beneath the regions of the resource calculation at Kay Tanda.
Source: http://www.mindoro.com/