A second diamond drill rig has arrived at West Drift lode at the Lobo Gold Project near Batangas on Luzon Island, as Red Mountain Mining accelerates exploration at the site.

The company has announced the latest drill results from the project which it acquired in December, with highlights of 4.25 metres @ 2.53 grams/tonne gold from 136 metres, including 0.42 metres @ 5.59 grams/tonne and 0.49 metres @ 4.62 grams/tonne. Other significant results include 2.81 metres @ 5.83 grams/tonne gold, 4.11% copper and 12.95 grams/tonne silver from 152.8 metres.

A high grade shoot has also been identified at the South West Breccia lode with trench channel sampling results including 5 metres @ 10.43 grams/tonne gold, including 1 metre @ 25.14 grams/tonne and 2 metres @ 18.12 grams/tonne, including 1 metre @ 28.69 grams/tonne.

Red Mountain’s acting chief executive officer Neil Warburton says the high grade copper intersection is coincident with the high grade gold intersection announced in early January and further confirms the high grade system is generally increasing in grade with depth.

“These results strengthen the company’s view that the Lobo epithermal vein-breccia structures will host additional high grade gold resources. There are now multiple high grade gold targets to drill. The exploration team on site at Lobo is being bolstered as the company ramps up its exploration activity on the entire 10km of mapped epithermal vein-breccia structures,” he says.

The new intersections are part of an initial drilling program by Red Mountain at West Drift to target high grade gold mineralization below the old Lobo copper mine and potentially convert the gold mineralization to resource inventory. The third and fourth holes in the program have commenced with the second drill rig on site and are targeting the down plunge extent of the system below the existing holes.

Previous drilling by Mindoro Resources tested a 500 metre by 10km strike length of mapped and interpreted epithermal vein breccia trends at Lobo. This drilling defined South West Breccia (SWB) with an indicated resource of 270,000 tonnes @ 6.49 grams/tonne gold for 56,380 ounces of gold and an inferred 61,000 tonnes @ 5.35 grams/tonne gold for 10,540 ounces.

www.redmm.com.au

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