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May 19, 2006
Drilling Underway on Five Prospects
EDMONTON, Alberta; May 19, 2006 -- Mindoro Resources Ltd. (TSXV: MIO; Frankfurt: OLM) today provided the following update on its exploration activities in the Philippines. The Surigao Projects are part of a joint venture with a private Philippines company and Panoro Minerals Ltd.
SURIGAO PROJECTS, NORTHERN MINDANAO
BHP Billiton recently completed its drilling program on the Agata nickel laterite prospect, where four drill rigs were carrying out a due diligence evaluation. Results of the evaluation are awaited.
Drilling has commenced on one of several porphyry copper-gold targets on the Tapian San Francisco Project. Widespread porphyry--style alteration and copper showings have been defined and a trench in porphyry-style mineralization assayed one percent copper and 0.55 grams per tonne gold over 25 meters. The first drill hole is currently at a depth of 152 meters.
On the Agata Project, drilling is underway on the Agata South porphyry target and the first hole is at a depth of 250 meters. Mindoro plans to mobilize a reverse circulation drill rig to the Agata North porphyry target, where technical drilling difficulties have been encountered, to penetrate the very difficult ultra-mafic cap rock, to be followed by diamond drilling into the target below.
BATANGAS PROJECTS, LUZON
Mindoro has three drill rigs operating in Batangas. One on the Pica porphyry copper-gold system on the Lobo Project; one on the Balibago porphyry copper-gold prospect on the Archangel Project; while a third drill rig is operating on the Kay Tanda gold-silver prospect, also on the Archangel Project. Results will be reported in the near future.
A geophysical survey is continuing on the Calo porphyry copper-gold prospect where an extremely intense induced polarization chargeability anomaly is being defined, along with porphyry related alteration and copper and gold showings.
Programs are carried out under the supervision of Tony Climie, P.Geol., who is a qualified person as defined by National Instrument 43-101.
Mindoro is a Tier 1 Issuer trading on the TSX Venture Exchange (MIO) and the Frankfurt Stock Exchange (OLM). Mindoro 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 May 23, 2006, Kay Tanda Drilling Encounters Further Encouraging Gold Mineralization, Including Bonanza-Grade Vein
You can view the Previous Press Releases item: Tue May 16, 2006, Mindoro Joint Ventures Apical Gold Project with Developing Gold-Producer
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