RTG hits 7.91% copper -- RTG Announces Further High Grade Intercepts and Extensions to Known Mineralisation at the Mabilo Project
RTG Mining Inc.
/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES /
ANNOUNCEMENT TO THE TORONTO STOCK EXCHANGE AND AUSTRALIAN SECURITIES EXCHANGE
PERTH , Western Australia , Aug. 14, 2014 /CNW/ - The Board of RTG Mining Inc. ("RTG", "the Company") (TSX Code: RTG, ASX Code: RTG) is pleased to announce further high grade copper, gold and iron intercepts in both the North and South Mineralized Zones at the Mabilo Project in the Philippines .
Drilling targeted at extending the South Mineralised zone to the North, has intersected high grade supergene copper mineralisation. With a total down hole intercept of 64.20 meters for 7.91% Copper and 2.96 g/t Gold, the hole is the best down hole intercept drilled at the Mabilo project to-date.
Continuing diamond drilling on two sections has confirmed the down dip extension of the South Mineralised Zone with further high grade intercepts, the system remains open at depth and to the South.
Highlights of the ongoing drilling program include –
- MDH-060 intersected magnetite skarn from 193 meters to 235 meters. Magnetite skarn is partly brecciated with silica-pyrite overprinting. The high grade interval is characterised by well-developed chalcopyrite with coarse grained intergrowths with magnetite and fine grained disseminated chalcopyrite.
16 meters at 2.84 g/t Au, 3.04% Cu and 45.89% Fe
Approximately 9.0 g/t Au equivalent
- MDH-065 intersected magnetite skarn from 175 meters to 217 meters. The magnetite skarn is similar in style to MDH-060, brecciated with silica pyrite overprinting. Chalcopyrite occurs as disseminations within magnetite clasts and as coarse grained chalcopyrite intergrowths with magnetite.
20 meters at 1.96 g/t Au, 2.84% Cu and 43.24% Fe
Approximately 7.8g/t Au equivalent
- MDH-066 intersected high grade supergene copper dominated by massive chalcocite and capped with an oxide copper zone with instances of native copper. Down hole supergene was intercepted from 48.20 meters to 89.50 meters with a zone of primary magnetite from 89.50 meters to 92.05 meters.
64 meters at 2.96 g/t Au, 7.91% Cu and 44.57% Fe
Approximately 17.3 g/t Au equivalent
Gold equivalent calculations are based on US$1300 / oz Au, US$7000 /t Cu and US$100 / t iron.
ABOUT MABILO
The Mabilo Project is located in Camarines Norte Province, Eastern Luzon, Philippines . It comprises one granted Exploration Permit (EP-014-2013-V) of approximately 498 ha and Exploration Permit Application EXPA-000188-V of 2,820 ha. The Project area is relatively flat and is easily accessed by 15 km of all-weather road from the highway at the nearby town of Labo.
Drilling is ongoing and currently focused on defining the SW down dip extent of the South Mineralised Zone and is targeting the oxide and supergene potential to the North of the South Mineralised zone.
South Mineralised Zone
Drilling has concentrated on the South Mineralised Zone which is substantially larger than the North Mineralised Zone.
Re-logging of the drill holes and three dimensional modelling in this Zone has facilitated better targeting for future holes. An updated long section view of isotropic copper grade shells is illustrated below (Figure 2).
Drilling on two sections targeting the down dip of previously reported MDH-053 and MDH-057 has confirmed mineralisation extends down dip by approximately fifty meters and remains open at depth.
All intercepts reported below have core recoveries better than 92%.
MDH-060
An angled hole drilled to test the down dip extent of MDH-057. The hole intersected magnetite skarn from 182.10 meters to 235.20 meters. Higher grade intervals are characterised by well-developed chalcopyrite inter-grown with magnetite weakly overprinted by silica pyrite (Figure 3). True thickness of magnetite skarn is approximately 32 meters.
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MDH-060
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From
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To
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Intercept (m)
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Au ppm
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Cu %
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Ag ppm
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Fe%
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Mineralisation
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135.80
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141.00
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5.20
|
3.49
|
3.44
|
13.1
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19.35
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Breccia Magnetite Skarn
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and
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181.00
|
232.00
|
51.00
|
1.63
|
1.90
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19.0
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41.35
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Magnetite Skarn
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including
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182.10
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188.00
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5.90
|
1.48
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2.08
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25.7
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25.81
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Breccia Magnetite Skarn
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and including
|
193.25
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231.00
|
37.75
|
1.81
|
2.11
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19.9
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46.81
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Magnetite Skarn
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Including
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210.00
|
226.00
|
16.00
|
2.84
|
3.04
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22.4
|
45.89
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Magnetite Skarn
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Including
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210.00
|
213.00
|
3.00
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4.11
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5.01
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22.6
|
47.52
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Magnetite Skarn
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|
and
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268.00
|
274.00
|
6.00
|
2.20
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0.90
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4.0
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36.23
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Garnet Magnetite Skarn
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MDH-065
Located ~40 meters North West of MDH-060, MDH-065 is an angled hole drilled to further test the down dip extent of MDH-053 (Figure 4). The hole intersected magnetite skarn from 179.35 meters to 217.00 meters. Mineralisation is characterised by coarse grained chalcopyrite intergrown with magnetite and breccias with weak silica pyrite overprint. True thickness of magnetite skarn is approximately 32 meters.
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MDH-065
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From
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To
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Intercept (m)
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Au ppm
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Cu %
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Ag ppm
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Fe%
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Mineralisation
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|
169.00
|
208.00
|
39.00
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1.46
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1.75
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22.0
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36.47
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Magnetite Skarn
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including
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185.00
|
205.00
|
20.00
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1.96
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2.84
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37.0
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43.24
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Magnetite Skarn
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and including
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193.00
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204.00
|
11.00
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2.59
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3.38
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37.32
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41.77
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Magnetite Skarn
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and including
|
187.00
|
190.45
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3.45
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1.34
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2.55
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43.17
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44.63
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Magnetite Skarn
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MDH-066
An angled hole designed to follow up supergene mineralisation reported in MDH-029 (ASX release by Sierra Mining 3rd April 2014 ). Located approximately 30 meters North East of MDH-029 (Figure 5) and at the Northern limit of the magnetic model, the hole intersected an oxide zone from 37.80 meters to 56.00 meters followed by a massive chalcocite zone from 56.00 meters to 89.50m meters. The bottom of the interval is magnetite skarn from 89.50 meters 92.05 meters characterised by weakly overprinted chalcocite and silica pyrite. True thickness in this part of the system has not been determined, all results are reported as down hole intervals.
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MDH-066
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From
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To
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Intercept (m)
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Au ppm
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Cu %
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Ag ppm
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Fe %
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Mineralisation
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37.80
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102.00
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64.20
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2.96
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7.91
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16.0
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44.57
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Oxide, Supergene &
Magnetite Skarn
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including
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37.80
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56.00
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18.20
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5.20
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0.42
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13.75
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40.36
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Oxide
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including
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56.00
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89.50
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33.50
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2.35
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14.20
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21.6
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50.39
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Supergene
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|
including
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89.50
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102.00
|
12.50
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1.21
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1.61
|
3.0
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30.66
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Magnetite skarn
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and
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137.80
|
149.00
|
11.20
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0.50
|
0.74
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1.0
|
7.18
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Garnet Skarn
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Further drilling has continued to the North and East of MDH-066 and has intersected further oxide and supergene mineralisation (MDH-071; Figure 5) from 32.25 meters to 62.10 meters down hole. Drill core is currently being processed.
Drilling to the North West of MDH-029 has intersected mineralised calc-silicate altered sediments with silica pyrite overprint. The strike of mineralisation continues to vector in the Northern direction towards the North Mineralised zone, drilling is ongoing.