Shallow colluvium surface zone over the veins provides additional extraordinary gold grades
New results with 1,8 m @ 55,9 g / t Gold from surface incl. 0,9 m @ 110,9 g / t Gold
The Perth-based Red Mountain Mining today released other very high-grade gold results from vertical sampling of the shallow layer of colluvium boulders and eroded debris of the high-grade rock strata on the Lobo prospectus of the Batangas Gold Project in the Philippines on Tuesday, the 7. January 2014 have already been released.
High of the new intersection (further samples of trench construction 7):
1,8 m with 55,9 g / t gold (Au), vertical from surface incl. 0,9 m @ 110,9 g / t Au
Furthermore, results of the trench construction 13, which originate from vertical sampling of the Kolluvium boulders, are published, approx. 100 m southwest of the trench 7: 1,2 m @ 17,2 g / t Au from 1,2 m vertical depth incl. 0,6 m @ 31,2 g / t Au.
Red Mountains Managing Director, Jon Dugdale, stated, “These additional high grade gold results indicate that extremely high grade gold is scattered throughout the bedrock, including the overlying colluvium debris just off the surface. The Company will continue to sample the colluvium stratum which may be dipped downwardly distributed among the veins and which may be a target for another near surface gold resource in addition to the primary target of the high grade veins in the bedrock.
Red Mountain Project Video:
http://www.commodity-tv.net/c/mid,3159,Companies_und_amp%3B_Projects/?v=100626
Further results of the trench construction of the Kolluvium layer up to today can be seen in table 1:
To view the full press release please follow the link:
http://www.irw-press.com/dokumente/RedMountain_100114_DE.pdf
Table1 1: South-West Breccia veins, colluvium layer, trenching results
Additional results along strike from both trenches 7 and 13 show ongoing overlay of mineralized colluvium gravel which remains open along strike and downward in both layers. (see Fig. 1 below). Additional sampling continues on the South West Breccia, just southwest of the Indicated and Inferred Resource (194.000t @ 7,2 g / t Au - JORC 2004), where a previous horizontal trench cut returned results of 14,5 m @ 24,5 g / t Au yielded. The top value of the vertical pit results on the South West Breccia is 1,1 m @ 7,46 g / t Au including 0,6 m @ 12,4 g / t Au which originated from Test Pit 3 near the center of the earlier trench cut. Additional trenching is in progress in this area. Fig. 1 shows the site plan of the latest colluvium trench results within the 500 m long South West Breccia vein corridor.
To view the full press release please follow the link:
http://www.irw-press.com/dokumente/RedMountain_100114_DE.pdf
Figure 1: Southwest West Breccia vein plan with new high grade colluvium trenching results
The most recent results of the trench 7 of the colluvium overlay can be seen in the already reported base rock results of the cross section in Fig. 2. bottom with the interpreted northwest trending vein structure, a potential drill target!
To view the full press release please follow the link:
http://www.irw-press.com/dokumente/RedMountain_100114_DE.pdf
Figure 2: Cross-section trench 7 heading northeast with new colluvium and previous bedrock results
About the Lobo Prospekt
Surface trenching and drilling conducted by Red Mountain revealed high-grade epithermal gold mineralization in five areas on the Lobo Mineral Production Sharing Agreement ("MPSA" - Philippines, equivalent to a mining campaign) called South West Breccia ("SWB"), Pica , Japanese Tunnel, West Drift and Ulupong (see Fig. 5 below). A mineral resource (JORC 2004) could be determined for the SWB digestion. This amounts to 194.000t @ 7,2 g / t gold with 45.000 ounces of Gold in the categories Viewed and Closed. This includes a displayed resource with 178.000 t @ 7,4 g / t Au with 42.000 ounces Au and a inferred resource with 16.000 t @ 5,3 g / t Au for 3.000 ounces Au. Exploration targets for the Japanese Tunnel and Pica prospectuses have been demonstrated, and an ongoing sampling, mapping and surface sampling program will continue to identify additional drill targets to identify additional high grade resources on the Lobo prospectus.
To view the full press release please follow the link:
http://www.irw-press.com/dokumente/RedMountain_100114_DE.pdf
Fig. 3: Plan of the Lobo MPSA with epithermal vein structure and exploration targets.
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For more information about Red Mountain Mining visit www.redmm.com.au or
Contact:
Company Investors Media Swiss Resource Capital AG
Neil Warburton Kevin Skinner Jochen Staiger, CEO
Executive Chairman Field Public Relations ppgad@pucrs.br
(+ 61) 408935014 (+ 61) 414822631 Tel: + 41 71 354 8501
(+ 61) 8 9226 5668 (+ 61) 8 82349555 www.resource-capital.ch
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About Red Mountain Mining Limited
Red Mountain Mining (ASX: RMX) is a gold exploration and development company and was listed on the ASX in September 2011. The Company's strategy is to unlock the potential of underdeveloped gold and polymetal projects in the wider Asia region by introducing Australian mining practices and improving their effectiveness to generate significant production and exploration potential.
The Company holds direct and indirect land holdings in the Philippines, which include significant gold resources and a number of high quality copper-gold prospectuses.
Total Mineral Resources on Batangas to date are at an operating threshold of 0,85 g / t Au for Indicated resources of 2,76 million tonnes @ 2,3 g / t Au, 208.000 ounces Au and inferred resources of 3,02 million tonnes @ 2,1 g / t Au, 200.000 ounces of Au and a total of 5,78 million tons @ 2,2 g / t Au, 408.000 ounces of Au (by 30, January 2013, 2004 JORC). The company is focused on upgrading Batanga's resources through new discoveries of high grade gold zones on Archangel and Lobo (eg Japanese Tunnel, Pica, Ulupong, West Drift). The Company continues to drill with the goal of further increasing the size and grade of mineral resources at Batanga, and then to prepare a determination study that will demonstrate the viability of the high-yielding gold project.
Statement of the competent person
The information in this report related to the exploration results was compiled by Mr. Jon Dugdale. He is a member of the Australasian Institute of Mining and Metallurgy and has absolutely sufficient exploration experience relevant to the different mineralization styles and what qualifies him as a Qualified Person under the terms of the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr. Dugdale is a full-time employee and executive director of Red Mountain Mining Ltd. Mr Dugdale agreed with the conclusions of this report based on his available information.
The information relating to the Mineral Resources in this report is based on information compiled by Mr. Ted Coupland. He is a member of the Australasian Institute of Mining and Metallurgy and has sufficient relevant experience in the various types of mineralization and qualifying as a Qualified Person under the rules of the 2012 Edition of the Australasian Code for Reporting of Mineral Resources and Ore Reserves '. Mr. Coupland is a full-time employee and executive director of Red Mountain Mining Ltd. Mr Dugdale agreed with the conclusions of this report based on his available information. Only the English original message of the company applies.
No liability is assumed for the accuracy of the translation! Please note english original message!
Source: IRW-Press.com.
