Mindoro Intersects Strong Nickel and Iron Grades at Agata South
- Highlights: 17.05m of 1.02% Ni, 10.50m of 1.06% Ni, and 11.70m of 1.07% Ni, all from surface
- High iron zone intersected: 4.7m of 50% Fe, 0.59% Ni and 0.11% Co from surface
Jul. 6, 2011 (Marketwire Canada) --
EDMONTON, ALBERTA -- Mindoro Resources Ltd (TSX VENTURE:MIO) (ASX:MDO) (FRANKFURT:WKN
906167) is pleased to report positive results from its Agata South nickel laterite drilling program, with strong nickel and iron grades intersected at surface and thicker than expected limonite and saprolite profiles.
Agata South is part of the larger Agata Project, located in the Surigao nickel district of NE Mindanao, Philippines, which hosts the NI 43-101 compliant Agata mineral resource several kilometers to the north. As illustrated on the accompanying map (also available with this release on Mindoro's website), Agata South encompasses three areas of nickel laterite mineralization, with the southern most of those initially drilled at 100m x 100m centers, now with in-fill drilling underway at 50m x 50m centers.
"We are very pleased with the strong nickel and iron results generated from drilling at Agata South," said Mindoro's President and Chief Executive Officer Jon Dugdale. "Upon completion of in-fill drilling in July, we will be in a position to upgrade the resource at the Agata Nickel Project. The upgraded resource will be incorporated into the prefeasibility study production schedule and the near-surface high-iron material will be evaluated for early stage production."
A total of 645 holes, for 7,045m of a 10,000m program to systematically test regional nickel targets, have been completed. A table of results from the first 41 drill holes at Agata South is attached to this release (also available on Mindoro's website), with highlights summarized below:
ASL-1: Total 12.1m @ 0.96% Ni from surface,
Including 4.7m @ 0.59% Ni, 0.11% Co, 50% Fe from surface
and 7.4 m @ 1.20% Ni from 4.7 m saprolite
ASL-3: Total 17.05m @ 1.02% Ni from surface,
Including 4.75m @ 0.53% Ni, 46% Fe from surface
and 12.3m @ 1.20% Ni from 4.75 m saprolite
ASL-4: Total 10.50m @ 1.06% Ni from surface
ASL-8: Total 14.30m @ 0.93% Ni from surface
Including 7.0m @ 0.77% Ni, 0.11% Co, 47% Fe from surface
and 7.3m @ 1.09% Ni from 7m saprolite
ASL-10: Total 11.70m @ 1.07% Ni from surface
Including 10.50m @ 1.08% Ni from 1.2m saprolite
ASL-45: Total 9.00m @ 1.05% Ni from 2.85m
ASL-49: Total 14.45m @ 0.94% Ni from 0.20m
Upon completion of the Agata South program, drilling will return to the northern laterite targets, such as San Jose.
On behalf of the board of directors
Jon Dugdale, President and CEO
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