Red Mountain Mining kicks off highly anticipated drill program at Lobo gold prospect
Red Mountain Mining (ASX: RMX) has launched its highly anticipated drilling program targeting mineralisation under Trench 7, which returned up to 31.1 grams per tonne gold, at the Lobo Prospect in the Batangas Gold Project, Philippines.
We could not put it more succinctly than Red Mountain managing
director Jon Dugdale who said today, "the Philippines based exploration
team have done a superb job making these new high-grade surface
discoveries. Now we get to see what’s underneath."
Four diamond core holes will test under Trench 7 with drilling continuing along strike to define potential mineral resources.
Drilling is also planned to test under Trench 13 results that include 2.6 metres at 28.6g/t gold and other areas that
Trench 7 at the Lobo Prospect had returned exceptionally high-grade results of 2 metres at 31.1g/t gold and 3 metres at 22.2g/t gold while Trench 13 had returned 2.6 metres at 28.6 g/t gold.
Petrography at Trench 7 has also returned free gold and sulphide associated gold.
Samples from this area are expected to respond to metallurgical testing in a similar way to nearby South West Breccia via fine grinding and CIL processing.
Testwork of have resulted in a 97% gold leach recovery from a composite sample grading 8.8g/t gold from South West Breccia.
Red Mountain’s drilling will determine how deeply mineralisation at the Trench 7 area in Lobo extends as well as define potential minerals resources.
With the promising high grade near surface results from trenching, successful drill results will likely result in a substantial boost to current Resources of 5.78 million tonnes at 2.2g/t gold for 408,000 ounces at Batangas.
Jon Dugdale is presenting at "Stars in 2014 Series" in Sydney. CLICK HERE for registration details.
- Bauxite Resources公司收到大量持股通知
- ASF Group的联营公司将Dawson West热煤项目的资源储量提升至6.45亿公吨
- White Cliff Minerals公司于Aucu项目发现新的矿化带
- Bauxite Resources公司非执行董事卸任
- South Boulder Mines公司董事长购买市售股份
- Carbon Energy公司筹资500万澳元以推进天然气项目
- South Boulder Mines公司降低Colluli钾肥项目的运营开支和资本开支