Batangas Overview


BATANGAS PROJECT OVERVIEW

The Batangas properties cover a large complex of porphyry related gold and copper-gold prospects including both high and low sulphidation gold systems at Kay Tanda (Archangel) and Lobo as well as numerous porphyry copper-gold prospects including Pica (Lobo), El Paso, Calo and Archangel.

Previous drilling has defined mineral resource estimates at Kay Tanda (2010) and Southwest Breccia (Lobo 2005) totalling 393,000oz Au indicated resource and an additional 107,000oz Au inferred resource (see tables to follow). High-grade intercepts at Kay Tanda and Lobo and initial encouragement in several porphyry copper-gold prospects remain to be followed up with further drilling.



Lobo Project (100% economic interest)

Previous drilling by Mindoro at Lobo intersected high-grade epithermal mineralization at Southwest Breccia, including intercepts of 17.4m @ 9.6 g/t Au from surface and 32.2m @ 9.5 g/t Au from shallow depth (see below cross section). An initial resource estimate for Southwest Breccia was produced in 2005 as follows.

Category
Tonnes
g/t
Gold
Contained
Ounces
Indicated
270,000
6.495
5,380
Inferred
61,000
5.35
10,540

The resource is open at depth and represents testing of only a small proportion of the 5km strike length of mapped epithermal reef structures identified at Lobo.

Recent results confirms the continuity of the highgrade shoot and indicates potential extensions of depth (Nov -- Dec 2011) 9.0m @ 6.56 g/t Au including 5.0m @ 11.27 g/t Au and 7.45m @ 12.4 g/t Au.

Left: SW BRECCIA
Cross Section 10170N ZONE

Archangel (100% economic interest)

The Archangel property at Batangas contains a 6km system of surface gold anomalies overlying high-grade feeders and a deeper porphyry system.

Mindoro drilling has defined a gold resource estimate at Kay Tanda released March 2010, as follows:

Category
Tonnes
g/t
Gold
Contained
Ounces
Indicated
9,879,000
1.06
337,500
Inferred
3,741,000
0.81
97,200

Many high-grade intercepts were excluded from the resource estimate due to wide spacing of drill holes and lack of information on geological controls. It is expected that much of the high-grade material will move into the resource category with additional drilling. High grade drill results included:
  • 64m of 3.5 g/t gold
  • 61m of 5.1 g/t gold, including shallow 1m intercept of 246 g/t gold
  • 26m of 4.03 g/t gold, 179 g/t silver from surface
Underlying porphyry targets indicated by strong IP chargeability anomalies and increasing base-metals (Cu-Pb-Zn) with depth.

Drilling planned for Q1/2 2012.