MANILA, Philippines - Australian miner Red Mountain Mining Ltd. has strengthened its gold target surface sampling program after the discovery of high grade gold from the South West Breccia gold resource at its Lobo property in Batangas.
In a statement, the company said that it has initiated a program to sample all of the identified epithermal vein-breccia structures at Lobo, as well as explore for new high-grade gold structures.
Red Mountain executive chairman and acting chief executive officee Neil Warburton said they have hit high grade gold at its Lobo project intersecting up to 28.69 grams per ton of gold.
“It included five meters at 10.43 grams per ton of gold including one meter at 25.14 g/t gold and two meters at 18.12 g/t gold including 28.69 g/t of gold,â€he said.
The results were obtained from additional surface trench channel sampling along strike from the South West Breccia gold resource.
The trenching results build on its recent success at West Drift epithermal lode structure where the first hole of a 10-hole diamond drilling program returned an intersection of 8.6 meters at 2.53 grams per ton (g/t) gold from 136.6 meters, including 0.85 meters at 5.59g/t gold and one meter at 4.62g/t gold.
Review of historical rock chip samples above two g/t along the epithermal vein-breccia structures gives additional targets with highest value of 72.6 g/t gold at signal prospect.
Warburton said that the results would strengthen the company’s view that the Lobo epithermal vein-breccia structures contain additional high-grade gold resources.
Along with the recent confirmatory gold intersection at West Drift epithermal lode (8.6 m at 2.53 g/t of golf), Warburton said that there are now multiple high-grade gold targets to drill.
Drill tests have been done previously at depths of 100 meters, while Red Mountain conducted an initial surface sampling of the epithermal vein trend between SWB and surface outcrops approximately 150 meters to the south of the resource.
“Results to date have identified the potential for extensions to the known resource as well as additional high-grade gold mineralization,†Warburton said.
Red Mountain completed the acquisition of significant gold resources and copper gold tenements in the Philippines in October 2012.