Red Mountain produces outstanding surface samples
Red Mountain Mining’s Lobo project in the Philippines continues to throw up super high grade gold targets for the West Perth based explorer.
The Lobo project has been notable for its exceptionally high grades and the latest surface samples have certainly not disappointed anybody.
With the latest samples going 17.9 grams to the tonne, 23.1 grams to the tonne and a whopping 90.4 grams to the tonne gold, the company has identified a number of strategic new drilling targets which it plans to test very soon.
The latest results potentially extend the South West Breccia (SWB) Main and Hangingwall Lode drill targets and the company will now immediately trench down to bedrock to determine the width and average grade of these new lode occurrences.
In addition, a single sample from an outcropping lode northwest and potentially parallel to the exciting Tamarind and Limestone targets, 500m southwest of SWB, produced a very high grade result of just over an ounce to the ton gold.
The objective of the current program is to locate all near surface, high grade zones around the company’s flagship South West Breccia resource to allow drilling and a new gold resource update prior to finalising the company’s Definitive Feasibility Study.
Red Mountain Mining Managing Director Jon Dugdale said: “We’re obviously encouraged by these new high grade gold numbers, that come at a very strategic time for us as we plan our next drilling campaign.”
“We’ll now fast track the additional trenching and drilling required to add these new zones to the potential resource upgrade.”
“We are also looking forward to drilling the new Tamarind target, which offers potential for a brand new SWB-sized system based on the size of the soil anomaly in that area”
Red Mountain Mining (RMX)
Closing price for the last 90 trading days
Powered by Morningstar ®