Red Mountain gears up for Batangas drill program

THE DRILL SERGEANT: Red Mountain Mining (ASX: RMX) has planned its next stage of diamond drilling to test the Pica and Japanese Tunnel high-grade gold discoveries at the Lobo prospect, situated within the company’s Batangas project in the Philippines.

“We are looking forward to completing the current Rights Issue then commencing drilling to test these exciting, near surface, high-grade gold targets,” Red Mountain Mining managing director Jon Dugdale said in the company’s announcement to the Australian Securities Exchange.

Red Mountain is planning two drillholes to test multiple east-dipping high-grade veins at Pica.

 

Cross section through Pica veining with drilling results and new drilling planned. Source: Company announcement

 

Further drilling will then be planned along strike with the objective of defining a new gold resource at Pica.

Previous drilling results from Pica included strong gold and silver grades associated with multiple stacked veins including:

–    5 metres at 4.28 grams per tonne gold, 15.75 grams per tonne silver from 22.4 metres, including 1.3m at 9.49g/t gold, 21.5g/t silver; and

–    1.7m at 4.4g/t gold, 34.8g/t silver, 2.5 per cent lead from 58.1m.

Drilling has also been planned to test the Japanese Tunnel prospect, located 150m southwest of the Southwest Breccia Indicated and Inferred resource of 194,000 tonnes at 7.2g/t gold.

Three holes are planned to test the Japanese Tunnel prospect to follow up previous surface trenching results of:

–    5m at 10.43g/t gold, including 1m at 25.14g/t gold and 2m at 18.12g/t gold, including 1m at 28.69g/t gold.

Further drilling will then be planned along strike with the objective of defining a new mineral resource at Japanese Tunnel.