Mindoro Resources has drilled another bonanza-grade intercept from the Kay Tanda epithermal gold-silver prospect, Archangel Project, the Philippines.

The core hole intersected 99.2 metres of 2.72 grams/tonne gold which includes one metre of 192.09 grams/tonne gold.

It was the final hole in an infill program to provide information on the short-scale continuity of the mineralization.

It is anticipated that more bonanza zones will be encountered within the large area of mineralization outlined at Kay Tanda and the second intercept provides excellent information on the structural controls and orientation of the bonanza zone.

The mineralization is still open in several directions and to depth and, at a later date, further resource extension drilling is planned. In the meantime, the focus is on evaluating and advancing Kay Tanda as an open-pit, heap-leach operation.

Epithermal gold-silver mineralization at Kay Tanda is associated with extensive and intense quartz stockworks, veins and hydrothermal breccias, with accompanying base metal sulphides. Kay Tanda is reflected by an induced polarization chargeability anomaly that covers about 1.5km x 1.4km and is part of a much larger chargeability anomaly which extends over 6km along strike to the north-east. To date, drilling has been conducted only on the Kay Tanda part of the trend.

At a cut-off 0.3 grams/tonne gold, the immediate exploration target is from 35 to 40 million tonnes of open-pitable material at a grade of 0.76 to 0.80 grams/tonne gold and 2.4 to 2.8 grams/tonne silver, containing between 860,000 and 1 million ounces of gold and 2.7 million to 3.6 million ounces of silver. This may be revised upwards at a later date as extension drilling continues.