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Jan 14, 2004
Metallurgical Test Results-- Kay Tanda Gold Silver Prospect
- Preliminary metallurgical test on gold-silver deposit yields positive results
- Detailed work in progress to further evaluate economic potential

Tony Climie P. Geol., President of Mindoro Resources Ltd. (Mindoro) is pleased to advise that preliminary bottle roll metallurgical tests from the Kay Tanda gold-silver prospect, Archangel Project ("Archangel"), Philippines, were positive. Mindoro is planning more detailed testing aimed at establishing the open-pit, heap-leach potential of the Kay Tanda gold-silver resource.

Six samples of drill cuttings (with size fraction ranging from minus 60 mesh to plus one quarter inch) from a 1997 reverse circulation drill program carried out by Chase Resources, were tested by McPhar Geoservices of Manila (ISO 9002 accredited). Samples ranged from shallow oxide, to deeper, nonoxide material. Head grades of samples ranged from 0.54 grams per tonne (g/t) gold to 3.49 g/t gold, which covers a grade range from low to the higher end seen at Kay Tanda. Initial bottle roll tests over 64.5 hours indicated from 90% to 95% recovery for 4 of the samples, including 1 non-oxide sample, and 53% and 67% recovery for the remaining 2 non-oxide samples. Cyanide and lime consumption were within acceptable limits for 4 of the samples, while cyanide consumption was high for 2 of the non-oxide samples. Full results are posted on the Mindoro web site. These results are seen by Mindoro as being very encouraging, thus warranting further metallurgical test work, including column leach tests.

Gold in soil anomalies (over 100 parts per billion) at Archangel are related to very extensive epithermal gold-quartz mineralization, and have been defined semi-continuously over an area of at least 4 km by 1 km (see map in release of Sept. 2, 2003). The anomalies are open to extension in several directions. Drill testing has been carried out on only a small part of the overall Archangel gold system; specifically the Kay Tanda Prospect, where an independent resource calculation estimated an inferred resource of about 17,000,000 tonnes of mineralized material at 0.68 g/t gold and 2.48 g/t silver, containing 370,000 ozs gold and 1,300,000 ozs silver (see release dated Jan. 24, 2003). An underlying porphyry copper-gold system is also being evaluated and advanced to the drill stage. Mindoro management is extremely encouraged by results from Archangel to date, and considers these a strong basis for further evaluation of the project's economic potential. Detailed mapping and sampling of the Archangel gold system is in progress, to be followed up by geophysical surveys and drilling to extend the near-surface gold resource, as well as to evaluate higher-grade gold mineralization encountered deeper in previous drilling (see release of Nov. 19, 2003). Preliminary results will be reported in the near future. Mr. Climie is a "qualified person" as defined by National Policy 43-101.

At the Lobo Project, 7 km from Archangel, drilling is continuing to increase the current gold resource base on the SW Breccia Zone.

Mindoro is a Tier One Company listed on the TSX Venture Exchange (symbol MIO). The Company is exploring for gold and gold-copper in the high-potential magmatic arcs of the Asia-Pacific Region and is presently focussed on six promising projects in the Philippines.

For further information, contact Penny Gould, Executive Vice President:
Phone: (1-780) 413-8187 Fax: (1-780) 426-2716
Email: mindoro@mindoro.com Website: http://www.mindoro.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.


Full News Release including associated ledgers attached in PDF Format:
 
 

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