Mindoro Resources has reported that the initial results of the first diamond drill hole have been obtained from the present program carried out at the Archangel gold project, located in Philippines.
The company encountered 4.07 g/t gold over 26.2 m, 6.12 g/t gold over 6 m, 5.36 g/t gold over 8.8 m, and 3.08 g/t gold over 39.25 m in hole KT 191-12. The popular mineralized gold intercepted by hole KT 191-12 is related to hydrothermal breccias and chalcedonic quartz vein stockwork.
According to Jon Dugdale, CEO and President of Mindoro, the company is delighted to receive the initial new drill hole results from the Archangel project. High-grade thicker intersection in hole KT-191-12 is in line with the feeder or up-flow zone analysis and offers a potential to expand the resource with additional drill program.
Red Mountain Mining (RMX) has arranged for a drawdown loan facility to support the campaign. Positive results from this phase I drill program recommends a systematic expansion drilling and resource definition program.
In spite of severe weather conditions, the company has completed 414.6 m of drilling since the commencement of the campaign on 5 August. KT 192-12, the program’s second drill hole which examined an interpreted feeder at the Kay Tanda resource’s east side, has been drilled to 267 m of downhole depth. This hole was specifically designed to analyze the locality of former drill hole, KTDH-04, which is believed to be drilled down to a sub-vertical hydrothermal breccia feeder or up-flow zone. The drill hole intercepted the stockwork mineralization related to most of the present Kay Tanda resource and further intercepted a base metal-quartz sulphide lode, prior to intercepting the targeted hydrothermal breccia from 215 to 224 m. The west Kay Tanda zone is being examined by KT-193-12, the third hole of the present campaign.
Source: http://www.mindoro.com/
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