Aussie mine firm optimistic on Batangas project

Ongoing exploration for gold in Lobo, Batangas, showed an “exceptionally thick” mineral structure that gave hints that the high-grade, near-surface lode was more extensive than previously defined, according to Red Mountain Mining Ltd.

The Australian company said samples yielded as much as 15.7 grams of gold a ton of material from five meters below the surface.

“This exceptionally thick and high-grade intersection extends what is already a fantastic, outcropping orebody,” Red Mountain managing director Jon Dugdale said in a statement.

Dugdale was referring to what the company called the South West Breccia area, where samples from earlier diggings yielded as much as 136.9 grams or 4.8 ounces of gold a ton of ore.

“Our current focus is to extend the South West Breccia high-grade resource at surface and at depth,” he said.

In April, Red Mountain took a further step to realize a quick-payback gold mine in Batangas as it filed applications for key government permits.