Watch Mindoro fly! exclusive read TGDL!Tonight we will send the following to the subscribers of the Gold Discovery Letter (40 pages full of discovery news).. check out www.golddrivers.com
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Mindoro Resources (MIO.V) “23.50 g/t Gold Over 21.3 Meters”
One of our long time favourites is the otherwise not much promoted exploration company Mindoro Resources. One year ago we published, on our own initiative, an extensive report on the company.
(https://www.golddrivers.com/GDRUpdates/TGDL%20PDF/TGDLDecember2005.pdf)
The company has identified 22 porphyry copper-gold prospects and a nickel laterite prospect in the Philippines and has an aggressive strategy of drilling multiple targets in 2006. They staked a very interesting large area in the Philippines since 1996 and are presently focused on exploring six promising projects with twenty copper-gold porphyry targets. Mindoro is a company still under the radar screen since much of the action, in financing and promotion, is done in Europe.
The outlook for the company looks excellent. First there is the Kay Tanda/ Pulang Lupa epithermal gold-silver zone. After a year of very successful drilling Mindoro will complete an NI 43-101 resource estimate, and a scoping study, with the objective of putting Kay Tanda into production soon. The best hole so far showed very high-grade gold mineralization over a thick interval and ended in the mentioned strong mineralization. KTDH-04 returned 13.90 grams per tonne (g/t) gold over 37.3 meters, from 84 to 121.3 meters, including 23.50 g/t gold over 21.3 meters from 100 to 121.3 meters.. Assay results are awaited from below 121.3 meters. This exciting news followed an earlier press release on October 10 in which Mindoro Resources reported 3.45 g/t gold over 64 Meters from hole KT-55.
“We are extremely pleased with these latest results” said Mindoro’s President Tony Climie, “They appear to confirm a thickening and strengthening of mineralization to the north and west, where the mineralization is wide open. Based on recent drill results, Kay Tanda is evolving into a significant gold discovery and we still have several other untested gold zones to drill elsewhere on the Archangel Project. We currently have two drill rigs operating at Kay Tanda and are looking to add a third. At the same time we will continue to systematically drill out the low-grade, near-surface, gold-silver resource at Kay Tanda, to establish a NI 43-101 resource, and evaluate its open-pit, heap-leach potential."