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Red Mountain Mining Continues Exploration At Ulupong Gold Discovery

Red Mountain Mining's (ASX: RMX) channel sampling and new soil sampling geochemistry at the Ulupong gold structure within the Lobo prospect in the Philippines continues to assay gold and silver.

A notable result from trenching and surface sampling near previous gold and silver results is 3 metres grading 2.45 grams per tonne gold and 7.07g/t silver including 1 metre at 4.22g/t gold and 4.6g/t silver.

Infill soil sampling has defined a 500 metre long by 100 metre wide anomaly in this area. Further trenching is in progress across the entire soil anomaly to assess the width of the mineralised zone and a further 6 samples have been submitted for assay.

In addition, three new vein outcrops were sampled in an area about 400 metres northeast of the trench, including a 2 metre thick quartz vein / breccia outcrop that produced an assay of 2.15g/t gold.

"We continue to receive very encouraging gold (and silver results) from outcropping epithermal veins at Ulupong," managing director Jon Dugdale said.

"We hope to re-commence drilling in the near future to test this new discovery, along with the other high grade, near surface targets at Pica and Japanese Tunnel."

Drilling will be planned to test the high-grade veins and soil anomalies at Ulupong as part of the next phase of drilling.

Lobo Prospect

Ulupong is greater than 2 kilometre long structure located within the Lobo Prospect of Red Mountain's flagship Batangas Gold Project about 120 kilometres south of Manila.

While the bulk of the current combined JORC Resource of 5.78 million tonnes at 2.2 grams per tonne gold and 3.3g/t silver is currently located at Archangel, Red Mountain has recently discovered four new, high-grade, near surface, epithermal gold vein zones at Lobo.

Planning is underway for the next stage of diamond drilling to test the high grade Pica and Japanese Tunnel gold discoveries.

This is designed to define a new gold resource at Pica and new mineral resource at Japanese Tunnel.

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