Quantcast

Australian firm expects rise in gold mining activities

By |

Red Mountain Mining Ltd. of Australia expects an increase in drilling activities in the Philippines in the next few months after it unearthed a second high-grade gold system at its project site in Lobo, Batangas.

“Drilling will now continue unabated for the coming months as the company continues to focus on growing its gold resource inventory in Batangas,” Red Mountain executive chair Neil Warburton said in a statement Wednesday.

According to Red Mountain, the second diamond drill hole, which is located 50 kilometers south of Manila, yielded minerals with 5.83 grams per ton (g/t) of gold from a depth of 152.8 meters.

It also yielded minerals with 8.89 g/t gold downhole from the so-called “West Drift epithermal lode structure” at the Lobo site project.

The drilling activity is part of Red Mountain’s program at the West Drift. The mining firm, which is publicly listed in Australia, expects to find high-grade gold resources below the old Lobo copper mine.

“The first two holes drilled in this program confirm the interpretation of increasing gold grade with depth,” Warburton said.

The drilling program at the West Drift has been accelerated when an additional diamond drill rig was deployed this week.

“With the addition of the second drill rig and deeper drilling planned below 100 vertical meters from the surface, further gold intercepts are anticipated,” Warburton said.


Follow Us







Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
Advertisement
Marketplace