Mindoro Resources
Mindoro Resources (ASX: MDO) is focused on developing major nickel laterite resources in the Surigao District of northern Mindanao as well as its El Paso, Lobo and Talahib porphyry copper-gold projects by funding exploration and feasibility study on each project.
Mindoro Resources releases copper gold sulphide target for Pan de Azucar in the Philippines
Thursday, February 09, 2012 by Christine Feary
Mindoro Resources (ASX: MDO) has defined a sulphide copper gold sulphur exploration target at the Pan de Azucar Project in the Philippines.
The exploration target is set at between 8 million and 12.7 million dry metric tonnes in the range of 35% to 40% sulphur (70% to 90% pyrite), 0.4% to 0.6% copper and between 0.5 grams per tonne (g/t) and 0.7g/t gold.
Significant values of silver and zinc are also contained in the sulphide.
The exploration target is based on 16 diamond drill holes that have intersected the massive sulphides, with geophysical conductivity defining a target of approximate dimensions of 1 kilometre length and 150 to 200 metres width.
Pan de Azucar contains the Valderama pyritic massive sulphide body which has been partially outlined by drilling, and the Asparin Hill porphyry copper-gold prospect.
Mineralisation at Valderama is open to the north and east, with potential extensions to a further 200-300 metres.
Initial metallurgical testing indicates potential to produce 1.3 tonnes of pyrite thermaloxidation sulphuric acid per tonne of ore feed, with subsequent acid leach/solvent extraction-electrowinning copper recoveries of 93% to 97% and gold leach recovery of up to 95%.
Mindoro holds a 40% interest in the Pan de Azucar project, with the right for its wholly owned local subsidiary to earn a 75% direct and indirect interest by completing a phased exploration program.
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