High-grade gold discovery in the Philippines

Gold mineAustralian mining company Red Mountain Mining has made an exceptionally high-grade gold discovery at its Batangas Gold Project in the Philippines, the firm announced on January 7.

The findings include high-grade gold at 50 to 110 grammes per tonne virtually at the surface of its mining site.

“The discovery of another lode with high-gold grades in surface trenching gives us confidence that we have a series of high grade gold shoots occurring along the South West Breccia structure, which continues for at least 500 meters then passes under shallow limestone which possibly obscures more high-grade zones,” the firm’s managing director Jon Dugdale said.

Exploration will continue at speed, he added, with Red Mountain to follow-up the trenching with drilling and targeting new high-grade gold resources.

Shares of the Sydney-listed company soared, rising 75  per cent on January 7 and almost 86 per cent on the following day.



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Australian mining company Red Mountain Mining has made an exceptionally high-grade gold discovery at its Batangas Gold Project in the Philippines, the firm announced on January 7. The findings include high-grade gold at 50 to 110 grammes per tonne virtually at the surface of its mining site. "The discovery of another lode with high-gold grades in surface trenching gives us confidence that we have a series of high grade gold shoots occurring along the South West Breccia structure, which continues for at least 500 meters then passes under shallow limestone which possibly obscures more high-grade zones,” the firm's managing director...

Gold mineAustralian mining company Red Mountain Mining has made an exceptionally high-grade gold discovery at its Batangas Gold Project in the Philippines, the firm announced on January 7.

The findings include high-grade gold at 50 to 110 grammes per tonne virtually at the surface of its mining site.

“The discovery of another lode with high-gold grades in surface trenching gives us confidence that we have a series of high grade gold shoots occurring along the South West Breccia structure, which continues for at least 500 meters then passes under shallow limestone which possibly obscures more high-grade zones,” the firm’s managing director Jon Dugdale said.

Exploration will continue at speed, he added, with Red Mountain to follow-up the trenching with drilling and targeting new high-grade gold resources.

Shares of the Sydney-listed company soared, rising 75  per cent on January 7 and almost 86 per cent on the following day.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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