There are promising results from three more reconnaissance drill holes at Mindoro Resources" Calo porphyry copper-gold prospect in the Philippines.

All holes passed through porphyry-related advanced argillic lithocap, argillic alteration, and into inner propylitic alteration below. Structurally-controlled zones of phyllic alteration were encountered in the two easternmost holes, with increasing intensity of porphyry-related alteration to the east.

Pyrite content ranges from 5 to 15%, which probably explains the chargeability anomaly and is interpreted as the pyrite halo of the porphyry system. Anomalous gold, copper, silver, arsenic, zinc and lead were encountered in all holes.

The Calo prospect is within Mindoro's Batangas projects, Luzon Island, the Philippines.

Mindoro president Tony Climie says: "Although we have not yet located the mineralized core of the porphyry copper-gold system within what is a very large target area, we are pleased that all holes drilled so far, over a distance of 3.5km, have intersected porphyry-related alteration. Upon completion of holes six and seven, we will evaluate all results to assist us in vectoring in to the mineralization centre in a second, more focused round of drilling."

Mindoro's Batangas projects cover more than 30,000 hectares in a well-mineralized copper-gold belt and include the Kay Tanda epithermal gold-silver prospect, where a NI 43-101 compliant resource estimate is in progress, as well as the Calo and El Paso porphyry copper-gold targets.

The company has defined a cluster of unusually large induced polarization anomalies at Calo, with extremely high chargeability readings. The anomalies are interpreted as related to porphyry-copper-gold mineralization. High-sulphidation epithermal copper-gold showings, along with advanced argillic alteration, which are usually indicative of proximity to porphyry mineralization in the Philippines, as well as diatreme breccias and porphyry-type alteration, occur around the margins of the chargeability anomalies, and in erosional windows.

Porphyry copper-gold mineralization has already been drill-intersected by Mindoro on the far-eastern margin of Calo, where one drill hole intersected 213 metres of 0.18% copper and 0.30 grams/tonne gold below a cap of advanced argillic alteration. In another area, young volcanic breccia above the chargeability anomaly contains exotic copper mineralization. Two trenches in this showing gave 2.62% copper over 30 metres, and 2.17% copper over 20 metres.