The gold system now measures more than 5.8 by 2.5 km, with multiple zones of widely dispersed breccia and stockwork gold-silver mineralization that are believed to form bonanza-style vein systems at depth.
The second-phase program focused on detailed follow-up work at the Harimau prospect, and consisted of geological and geochemical surveys, prospecting, airborne geophysics and a structural interpretation using satellite synthetic aperture radar.
The results show that the gold system extends beyond the present survey grid (5.8 by 2.5 km), as evidenced by newly outlined gold-in-soil anomalies.
Although primary gold mineralization is the main target, Mindoro had seen potential for a near-surface oxide resource, evidenced by the presence of coarse gold and historical Dutch sluicing equipment. However, 14 shallow holes aimed at testing this theory return no values of economic interest.
Ongoing work will focus on higher-grade mineralization (multi-gram gold) associated with breccias, stockworks and zones of quartz-flooding that have been identified in the halo of low-grade (below 1 gram), near-surface mineralization. There are indications that these structures merge and coalesce at shallow depth into larger vein systems with potential for bonanza-type grades. A second potential setting is stratabound or ponded mineralization at boundaries within contrasting permeabilities (such as intrusive contacts or welded/unwelded tuffs).
The next phase of work will include geophysical surveys, more definition of structural and lithological targets, and drill-testing of defined targets.
Mindoro is engaged in discussions with senior companies that have expressed interest in becoming a joint-venture partner.
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