Red Mountain Mining Kicks Off Highly Anticipated Drill Program At Lobo Gold Prospect
Seeking Alpha Analyst Since 2009
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.
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