Drill results reported from Banyumas

Partners Mango Resources (MRH-V) and Hyder Gold (HGI-V) have released results from a diamond drill program at the Banyumas property in central Java, Indonesia.

Comprising 29,620 ha, the property lies 300 km southeast of Jakarta. Each company holds a 30% interest in the project, with a private Indonesian company holding the remainder.

Hyder can increase its interest by 10% by paying the Indonesian company US$1.5 million in cash.

The program, which consisted of six holes spanning 1,000 metres, was designed to test a 430-long-by-150-Metre-wide gold anomaly previously defined by soil geochemistry and surface trenching. All holes were drilled southwest at minus 45 degrees.

Results include:

* hole 2, which hit 29.8 metres (from 21 to 50.8 metres) of 2.7 grams gold; * hole 3, which intersected 6 metres (from 8.7 to 14.7 metres) grading 2.1 grams gold and 13.5 metres (from 72.4 to 85.9 metres) grading 2.72 metres; * hole 4, which intersected four separate zones, of which the closest to surface are 10.5 metres (from 37.5 to 48 metres) grading 3.9 grams gold and 43.5 metres (from 75 to 118.5 metres) grading 1.6 grams gold; and * hole 5, which returned 8.1 grams gold over 1.5 metres, beginning 166.5 metres downhole.

Hole 2 was collared in the same setup as hole 1, which was abandoned after 25 metres of drilling as a result of poor core recovery.

Hole 3 represents the easternmost hole drilled, and was collared 95 metres from hole 2. The remaining holes were drilled west of hole 2.

According to the partners, gold mineralization, which is hosted by turbidites with variable volcanic content, appears to be controlled by

southeast-Northwest-Trending fracture sets varying in plunge from steep to horizontal.

Though hole 6 failed to hit any significant mineralization, the partners note that right lateral, northeast-Trending faults have been mapped in the area and may have offset the target zone to the north. A large arsenic-Antimony anomaly has been outlined immediately north and uphill of holes 5 and 6, and this is understood to be evidence of the zone’s continuation.