Red Mountain trenching returns one ounce per tonne gold

THE DRILL SERGEANT: Red Mountain Mining (ASX: RMX) is excited with its encounter with a high-grade surface trenching intersection from the Lobo prospect, located on the company’s Batangas gold project in the Philippines.

The highlight of recent trench sampling returned:

–    2 metres at 31.1 grams per tonne (1 ounce per tonne) gold, including 1 metres at 60.2 grams per tonne gold.

This new high-grade trench intersection is located 100m along strike to the southwest of recent drilling completed at the Japanese Tunnel prospect.

Further drilling carried out 200m along strike to conduct surface sampling of vein boulders produced assays of up to 33.5g/t gold extending the Southwest Breccia-Japanese Tunnel zone to 500m strike length before the structure passes under younger limestone to the southwest.

 

Southwest Breccia-Japanese Tunnel plan with soil anomalies and surface/trench sample results. Source: Company announcement

 

“The rich gold grades of the new, at surface, lode discoveries – more than an ounce to the tonne – highlights the potential for additional high-grade gold shoots within this mineralised corridor, which may be similar or better than the high-grade Southwest Breccia resource,” Red Mountain managing director Jon Dugdale said in the company’s announcement to the Australian Securities Exchange.

“The company has identified a vein system that now extends over 500 metres and further trenching, then drilling, is planned to confirm continuity and define additional high-grade mineral resources to upgrade our current 408,000 ounce resource base.”

Drilling at Japanese Tunnel during August and September 2013produced peak intersections of:

–    8.7m at 4.34g/t gold from 2.9m, including 3.7m at 8.6g/t gold; and

–    3.7m at 3.06g/t gold, 2.26 per cent copper from 12.3m, including 1.55m at 5.97g/t gold, 4.88 per cent copper.

Red Mountain considers these results have partially confirmed its Exploration Target while opening potential to extend the mineralised zone to the southwest, where mapping has determined the structure continues a further 500m before it is covered by a veneer of post-mineralisation limestone.

The new trench (7), which targeted an area below a surface-subcrop rockchip sample result of 15.9g/t gold and 18.7g/t silver, intersected a 2m wide quartz-barite-sulphide breccia lode 100m directly along strike from the Japanese Tunnel drilling.

Samples were initially taken 1m bellow surface, producing an intersection of 2m ta 10.7g/t gold, including 0.5m at 34.4g/t gold and again at the base of the trench 1.5m below surface where the intersection of 2m at 31.1g/t gold, including 1m at 60.2g/t gold was produced.

Further trenching is in progress, as well as additional trenching in the vicinity of the 33.5g/t Au boulder sample location, 200m west of the new trench, and in other prospective areas.

Email:
info@redmm.com.au

Website:
www.redmm.com.au