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Jun 16, 2006
Further Encouraging Gold-Silver Mineralization Drilled at Kay Tanda and Pulang Lupa
EDMONTON, Alberta; June 16, 2006 --- Mindoro Resources Ltd. (TSXV: MIO; Frankfurt: OLM) today reported that the company is continuing to receive encouraging gold-silver results from drilling on the Kay Tanda epithermal gold-silver prospect, located in the Archangel Project, the Philippines. Recent highlights include 13 meters of 0.68 grams per tonne (g/t) gold and 7.31 g/t silver in hole KT-10 and six meters of 3.73 g/t gold as well as 13 meters of 0.70 g/t gold in KT-13. Encouraging results were also received from drilling on the nearby Pulang Lupa prospect, also in the Archangel Project, including 23 meters of 0.6 g/t gold and 10.74 g/t silver in hole PL-1 and 36 meters of 1.22 g/t gold and 13.46 g/t silver in hole PL-3.
A reverse-circulation drill rig has now completed 13 drill holes on Kay Tanda Prospect. Another 13 drill holes have also been completed on the Pulang Lupa prospect, approximately 400 meters west of Kay Tanda.
SUMMARY OF DRILL RESULTS
Drill results from KT 10 to 13 are summarized below. Results from KT-1 to 3, and KT-4 to 9 were reported on May 3 and May 23, 2006, respectively. Oxide mineralization extends to a depth of 40 to 70 meters. Near-surface gold-silver intersections are believed to represent near-horizontal zones of mineralization and to approximate true thicknesses. The narrower, higher-grade intersections below are probably veins whose orientation and width will require more drilling to establish.
Kay Tanda and Pulang Lupa are classical low-sulphidation gold-silver systems. The upper funnel-shaped part consists of low-grade, potentially bulk-mineable gold-silver mineralized quartz stock-works, which is mostly oxidized. This is being evaluated for its open-pit, heap-leach potential. Lower down, high-grade veins have been intersected in a number of drill holes.
Intense porphyry copper-gold related phyllic (quartz-sericite-pyrite) and SCC (sericite-clay-chlorite) alteration plus abundant quartz veins/veinlets with low-grade copper-lead and zinc mineralization, continues to be encountered in all holes immediately below the overprinting epithermal gold-silver zone. This porphyry prospect constitutes a follow-up target for a future diamond drill program.
The first diamond drill hole has been completed at a depth of 508 meters on the Balibago porphyry copper-gold prospect, also on the Archangel Project. A second diamond drill hole is about to commence at Balibago. Results will be released when all data have been received and interpreted.
Programs are carried out under the supervision of Tony Climie, P.Geol., who is a qualified person as defined by National Instrument 43-101. Normal Quality Control and Quality Assurance procedures are being carried out, using a system of duplicate, standard and blank samples
Mindoro is a Tier 1 Issuer trading on the TSX Venture Exchange (MIO) and the Frankfurt Stock Exchange (OLM). 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.
FOR FURTHER INFORMATION, CONTACT:
Penny Gould, Executive Vice President
Marshall Farris, Ascenta Capital Partners Inc.
Toll Free: 1.866.684.4209 ext. 22
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
You can view the Next Press Releases item: Tue Jul 4, 2006, Further Encouraging Gold-Silver Mineralization Drilled at Kay Tanda and Pulang Lupa: Resource and Scoping Studies Planned
You can view the Previous Press Releases item: Tue May 23, 2006, Kay Tanda Drilling Encounters Further Encouraging Gold Mineralization, Including Bonanza-Grade Vein
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