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Nov 10, 1997
Encouraging Gold Exploration Results from Tapian Project, Philippines
MRL Gold Phils., Inc. ("MRL"), a wholly-owned subsidiary of Mindoro Resources Ltd. ("Mindoro"), announces encouraging initial exploration results from its Tapian Project, Mindanao Island, Philippines. Extensive gold showings, prospects and anomalies are being outlined by semi-detailed geochemistry and geological and prospecting surveys, underway since May, 1997. Located within the Surigao Gold District, the Tapian Project consists of two, non-contiguous, claim blocks referred to as Tapian Main and Tapian San Francisco.
Tapian Main Area (16 claims, 1,296 hectares)
Mt. Tapian Prospect: A strong and extensive stream sediment gold anomaly is outlined, based on results received to date for 88 of 227 samples. The anomaly, defined by values of greater than 40 parts per billion (ppb) gold extends over a watershed area of over 1.5 by 1.5 kilometres (km). Six values are greater than 500 ppb gold, with a maximum of 8,770 ppb (8.7 grams per tonne (g/t)). Arsenic and copper anomalies, to a maximum of 216 parts per million (ppm) and 167 ppm respectively, are associated.
The anomalies are centred on an area of high-level intermediate stocks intruding ultramafics and sediments, including limestones. Three abandoned pre-World War II underground gold mines occur in two of the anomalous drainage systems. Five other anomalous drainage systems are defined where no known previous mining operations occur and are believed to represent new targets. In one of these, prospecting located an outcrop of altered intrusive from which a grab sample assayed 5.0 g/t gold. Gridding, detailed soil geochemistry and geological surveys, and rock sampling of showings and old mines is planned to commence immediately at the Mt. Tapian Prospect.
Located two km northeast of the Mt. Tapian Prospect, prospecting has located an area of altered intrusive. Gridding and detailed evaluations have started.
San Francisco Area (14 claims, 1,134 hectares)
This area is 1.8 km north of Tapian Main. Semi-detailed soil geochemistry and geological surveys are currently in progress on 3 claims. Results for 553 of 645 soil samples have been received. Two broad anomalous areas are being defined: Mina Tunnels and Limon.
Mina Tunnels Prospect
Two significantly anomalous and broad northeast-southwest trending gold anomalies (greater than 50 ppb) are defined by 91 of 441 soil samples collected. The strongest anomaly, with a maximum value of 10,000 ppb gold (range: less than 10 ppb to 10,000 ppb; average: 55 ppb), is greater than 200 by 300 metres, and open to the southwest. At least 17 old workings and gold mines occur within this anomaly. Geology consists of limestones, carbonaceous shales and mudstones intruded by intermediate intrusions. The second anomaly is more diffuse, extends approximately 300 by 100 metres, and has a maximum value of 350 ppb gold, and is still open to the southwest. This prospect is being evaluated for bulk-tonnage gold potential. Rock sampling is planned to commence once government approvals are in place, expected in December, 1997.
This is adjacent to, and southwest of Mina Tunnels. To date, 112 soil samples have been collected from 2.4 km of grid. Twenty-two soil samples have values greater than 50 ppb gold, to a maximum of 580 ppb (range: less than 10 ppb to 580 ppb; average: 50 ppb). These define two northeast-southwest trending anomalies, each some 200 by 100 metres and open in both directions. Extensive quartz-sericite-pyrite alteration (over 500 metres in width) and abundant siliceous and quartz breccia boulders were noted in the vicinity. This prospect bears epithermal characteristics. Work is continuing to establish the extent and significance of these anomalies.
MRL is also actively exploring its Agata, Mat-I, and Pan de Azucar projects in the Philippines and will shortly commence evaluation of its Lahuy Island Project. In Indonesia, Mindoro is active on three of its eight projects, and work has recommenced on Concession 11 In Myanmar now that monsoon rains have eased.
Mindoro Resources Ltd. is a Canadian mineral exploration company focusing on gold and gold-copper exploration in Asia. Mindoro currently has working capital of approximately $3,600,000.
The Alberta Stock Exchange has neither approved nor disapproved the information contained herein.
You can view the Next Press Releases item: Fri Nov 28, 1997, Pan de Azucar Prospect Now at the Drill Ready Stage
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