Subscribe for Updates:
Enter your email below to receive email updates
May 11, 2005
Geophysical Program Defining Multiple Porphyry Copper-Gold Targets Over Six Kilometer Trend at Archangel Project
Mindoro Resources Ltd. (TSXV: MIO; Frankfurt: OLM) today announced that a first-phase induced polarization (IP) geophysical survey at Archangel Project in the Philippines has been completed. Strong chargeability and resistivity anomalies were outlined semi-continuously over five kilometers which are interpreted as being related to a cluster of porphyry copper-gold systems.
The work consisted of 69 kilometers of combined IP and magnetic surveys. Partial results were reported on March 15, 2005. Strong resistivity and chargeability anomalies have now been defined semi-continuously for more than six kilometers, appearing to define four separate anomalies along this trend. Inverse modeling of data will be carried out to more precisely define the anomalies. The anomalies and associated alteration and copper-gold showings are consistent with porphyry copper-gold targets. Some of the resistivity anomalies are believed to reflect epithermal quartz-gold-silver mineralization at shallower depths, which is the subject of ongoing resource evaluation and metallurgical testing.
Reconnaissance geological work and prospecting indicates that the favorable copper-gold mineralized trend at Archangel extends for another four to five kilometers to the northeast. Once the geological work has been completed, the geophysical crew will be re-mobilized to survey this newly-recognized extension. In the meantime, the geophysical crew has returned to the Company's Lobo Project where additional surveying will be carried out to fully define the Calumpang porphyry prospect, extend anomalies in the suspected source area of the Signal boulders, and help define drill targets at the Camo Prospect, where drilling intersected high copper and silver values (see Company news releases dated May 10 and Feb. 10, 2005).
Work is carried out under the supervision Tony Climie P. Geol., President of Mindoro, and a "qualified person" as defined by National Instrument 43-101.
Mindoro is a Tier One Company trading on the TSX Venture Exchange (TSXV: MIO) and the Frankfurt Stock Exchange (OLM). 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 since 1996 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: (1-780) 413-8187
Fax: (1-780) 426-2716
Marshall Farris, Ascenta Capital Partners Inc.
Phone: (1-604) 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.
You can view the Next Press Releases item: Fri Jun 3, 2005, Change Of Auditor
You can view the Previous Press Releases item: Tue May 10, 2005, Drilling Underway on Pica Porphyry Prospect and West Drift Epithermal Prospect
You can return to the main Press Releases page, or press the Back button on your browser.