Mindoro Resources has intersected bonanza mineralization in a core hole at the Kay Tanda epithermal gold-silver prospect, Archangel Project, the Philippines.

KTDH-20 intersected one metre @ 12.92 grams/tonne gold from 17 to 18 metres and one metre @ 246.41 grams/tonne gold from 25 to 26 metres. This is part of an intersection grading 11.49 grams/tonne gold over 25 metres. The mineralization is in classic epithermal hydrothermal breccias and stockworks and is considered to represent a true width intercept.

The drilling is part of an infill program recommended by Golder Associates in their geostatistical overview of Kay Tanda. Golder recommended close spaced drilling over a small portion of the deposit to provide information on the short-scale continuity of the mineralization.

It is anticipated that more such bonanza zones will be encountered within the large area of mineralization outlined to date at Kay Tanda.

Mindoro has completed more than 140 reverse circulation and 10 core drill holes at Kay Tanda. Almost all holes have encountered near-surface, generally flat-lying to gently-dipping blanket-like low-grade stockwork mineralization. This is strongly to partially oxidized to depths of 40 to 160 metres and non-oxide below this.

Further drilling and structural studies are in progress to determine the nature and controls of the high-grade zones.

Kay Tanda is being evaluated for its open-pit, heap potential. Initial metallurgical test work has produced excellent results. Kay Tanda is interpreted as intermediate to low sulphidation epithermal quartz-carbonate-gold-silver-base-metal mineralization telescoped into the top of an underlying porphyry copper-gold system.