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Aug 24, 2004
Trenching Results Extend Kay Tanda
EDMONTON, AB; Aug. 24, 2004 - Mindoro Resources Ltd. (TSX-V: MIO) today announces further trenching results from its Archangel Project, Philippines. The results:
• Extend gold-silver mineralization east and west of the inferred Kay Tanda resource
• Include a trench of 51 m at 1.24 grams per tonne [g/t] gold and 25.5 g/t silver
Epithermal gold silver mineralization occurs at higher elevations at Archangel, while porphyry copper-gold related mineralization occurs at lower elevations. The epithermal gold-silver mineralization, which is associated with quartz-stockworking, occurs semi-continuously along a trend of at least 5 km, and is up to 600 m wide. Focus of work on this trend is currently the Kay Tanda area, where an inferred resource of 370,000 ozs gold at 0.68 g/t gold and containing 1,300,000 ozs silver, has previously been estimated by an independent consultant.
Mineralization at Kay Tanda appears to be open in all directions. It is near-surface and is being evaluated by Mindoro for its open-pit, heap-leach potential. As previously reported, preliminary metallurgical test results from Kay Tanda are encouraging and further metallurgical test work is being undertaken. A bulk sample of 1.2 tonnes has been collected and will be processed in Australia. Trenching is in progress at Kay Tanda to determine the extent of mineralization along strike to the west and east. All samples are continuous channel samples and assayed using standard procedures. A map plotting these results is available on our website at: http://www.mindoro.com/s/Batangas_MapsPhotos.asp
Three trenches each 30 m apart, excavated in the Pulang Lupa area, 400 m west of the Kay Tanda resource gave:
• 23m at 1.86 g/t gold and 11 g/t silver
• 8 m at 4.28 g/t gold and 4 g/t silver
• 18 m at 2.67 g/t gold and 49.2 g/t silver
A trench in the Lumbangan area, 300 m east of the Kay Tanda resource gave 51 m at 1.24 g/t gold and 25.5 g/t silver [partial results previously reported over 14 m]. Approximately 200 m further east, a vertical channel sample in a shallow, historical shaft gave 5 m at 1.71 g/t gold and 56 g/t silver.
Geochemical and geological work indicates gold-silver mineralization at Kay Tanda, and encompassing the Pulang Lupa and Lumbangan areas [see map], is continuous and extends at least 1,600 m in an east--west direction, with widths ranging from 100 m to 600 m. At a later date, work will extend along the remainder of the 5 km epithermal gold-silver trend, which is manifested by gold in soil anomalies and quartz stockworking. Work is also in progress on the porphyry copper-gold system exposed at lower elevations at Archangel.
A major drilling program is planned on the Lobo and Archangel Projects on both epithermal, and porphyry copper-gold targets. Drilling will continue once a financing, currently in progress, has been completed. Exploration is also in progress on the Surigao Projects in Mindanao, financed under a joint venture with Panoro Minerals Ltd., and preliminary results will be released soon. Work is carried out under the supervision Tony Climie P. Geol., a "qualified person" as defined by National Instrument 43-101.
Mindoro is a Tier One Company listed on the TSX Venture Exchange (TSX-V: MIO). The Company is exploring for gold and gold-copper in the prolifically mineralized magmatic arcs of the Asia-Pacific Region. Mindoro has been active in the Philippines for seven years and is presently focused on six promising projects in politically stable jurisdictions of the Philippines.
For further information, contact:
Penny Gould, Executive Vice President
Phone: (780) 413-8187
Fax: (780) 426-2716
Marshall L. Farris, Ascenta Capital Partners Inc.
Phone: (604) 628-5800
Toll Free: 1-866-684-4209
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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