Mindoro to drill Agata

Mindoro Resources (MIO-A) has planned a 20-hole, 2,000-metre drilling campaign at the Agata gold project in the Philippines following the discovery of high-grade gold anomalies

Drilling of the Assmicor, East Limestone, West Limestone and Golden Rock targets, on Mindanao Island, will begin shortly. The anomalies suggest potential for skarn or replacement mineralization and intrusive-hosted mineralization at depth. Exploration on the properties for platinum occurrences also continues. The company is stream sampling for heavy minerals along a 8.5-km ultramafic belt that runs through the area.

To fund exploration, the company will raise $350,000 through the sale of 1.7 million units at 20 cents each.