Mindoro Resources
MINDORO has been exploring in the Asia Pacific region's high-potential magmatic arcs since 1997, and holds a significant land position of more than 60,000 hectares in world-class nickel laterite and copper-gold porphyry districts in the Philippines. The company's most advanced properties are the Kay Tanda Gold-Silver and Agata Nickel Laterite prospects. These properties have been drilled extensively and are being fast-tracked towards economic evaluation and potential near-term development. Drilling is also underway on a massive multi-kilometer porphyry copper-gold prospect with potential to host multiple porphyry copper-gold centers. A further 22 porphyry copper-gold and several epithermal gold targets have yet to be tested.
Wednesday, April 30, 2008
Mindoro releases Agata Nickel Project resource estimate
Mindoro Resources (TSXV: MIO) announced a NI 43-101 compliant mineral resource estimate for its Agata Nickel Laterite Project in the Philippines.
The estimate covers 15% of the Agata North nickel laterite prospect which will act as the 'starter' resource for a Direct Shipping Ore operation planned for this year.
The combined Measured and Indicated Resource is 4.4 million wet metric tonnes grading 1.25% nickel, 0.063 % cobalt and 23% iron, with a cut-off grade of 0.8% nickel. A further 2.45 million wet metric tonnes grading 1.23% nickel, 0.062% cobalt and 22% iron sits in the inferred category. Mindoro added that the current resource lies within a 57 hectare area, but there was an additional 30 hectares were mineralised drill intersections are not yet included in the resource. Infill drilling is ongoing in the 30 hectare zone.
Tony Climie, President of Mindoro, commented:
"We are delighted with this early stage resource estimate, which is double our original Exploration Target. This estimate provides the basis for a scoping study, which is in progress, and on which a production decision for the DSO scenario will be made. The resource area represents a small part of Agata North, and does not include Agata South, or recently defined areas of potential nickel laterite mineralization on our Tapian and Mat-I Projects. This reinforces our expectations of defining a major resource on our Surigao Projects, potentially justifying establishing a local processing plant to maximize economic returns to all stakeholders". Register here for more articles on Mindoro Resources
Other Mindoro Resources articles
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17/09/08 Mindoro Resources – Agata keeps adding to resources
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16/09/07 Mindoro Resources - A player in an emerging mining destination
Other Mindoro Resources news
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11/11/08 Mindoro Resources says Batangas project JVs making progress.
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03/10/08 Mindoro Announces Proposed IFC Investment
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