2.6 Meters gold high grade mining in the Philippines, another 500 meters Gold more

 

Red Mountain Mining makes bonanza gold find at Lobo, Philippines

Red Mountain Mining has made a new bonanza high grade gold discovery of 2.6 meters at 28.6 grams per tons from trenching at the Lobo Prospect of its Batangas Gold Project in the Philippines.

This intersection on the 500 meter long South West Breccia Lode structure is 100 meters along strike to the southwest of a previous Trench 7 intersection of 2 meters at 31.1g/t gold.

 

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Recent sampling on the other, northeast, wall of Trench 7 produced an intersection of 3 meters at 22.2 g/t gold, confirming the exceptionally high-grades, virtually at surface, in this location.

"The discovery of another lode with bonanza gold grades in surface trenching gives us confidence that we have a series of high grade gold shoots occurring along the South West Breccia structure, which continues for at least 500 meters then passes under shallow limestone which possibly obscures more high-grade zones," managing director Jon Dugdale said.

"Our very cost-effective surface trenching program will continue to define lode continuity at surface before drilling is planned to define potential high-grade gold mineral resources."

Trenching Details

The latest, Trench 13, result is from a northwest dipping lode displaced slightly down slope by surface slumping.

Trench 11, 7 meters to the southwest, intersected the same lode grading 1.3 meters at 8.68 g/t gold including 0.8 meters at 13.6 g/t gold while Trench 14 – located 10 meters to the southwest - intersected limestone cover that conceals the gold lode.

The limestone cover continues for over 1 kilometer before the lode structure emerges to the southwest where previously sampled surface colluvial float grades of up to 79.6 g/t gold occur at Signal.

The discovery of two new epithermal potential gold shoots brings to four the number of shoots identified within the 500 meter strike length along the South West Breccia lode corridor at Lobo.

This corridor already includes Indicated and Inferred resources of 194,000 tons at 7.2 g/t gold and drilling results to 3.7 meters at 8.6 g/t gold at the Japanese Tunnel target.

The two new potential shoots recently discovered at Trench 7 and Trench 13 could potentially significantly add to the mineral resource base at this location.

Dugdale added that it is likely that a pinching and swelling epithermal lode is intermittently developed over the entire strike length from South West Breccia through Japanese Tunnel.

"The Trench 7 area and to the Trench 13 area, with each "swell" representing a potential individual high-grade gold shoot spaced approximately 100m apart within the 500m long lode corridor mapped to date," he said.

"The logical next stage of our exploration program is to drill under the high grade trenches and we are looking forward to seeing what this stage of the program might yield."

Four trenches on approximately 10m spacing have been completed in the Trench 7 area. The lode has been intersected in three of those trenches and the northeastern most of those, Trench 12, failed to intersect the lode which may occur up slope under >3 meters of colluvial cover, too deep for safe trenching.

Drilling will be required to confirm continuity of the high-grade shoot below surface and to confirm whether the shoot connects with the Japanese Tunnel zone 75m to the northeast.

Analysis

The discovery of new bonanza grade gold shoots indicates that a series of high grade shoots could occur for at least 500 meters at Batangas, increasing the scale of the project.

The next set of trenching results from Red Mountain due in a week are highly anticipated, as these could continue to define lode continuity at surface.

Exploration will continue at speed, with Red Mountain to follow-up the trenching with drilling - which will target high-grade gold resources. – Proactive Investors

 

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