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Mindoro Resources drills 9.7m at 1.19% nickel at Bolobolo nickel target

Mindoro Resources drills 9.7m at 1.19% nickel at Bolobolo nickel target

Junior explorer Mindoro Resources (CVE:MIO) (ASX:MDO) reported Tuesday more drill results from its Bolobolo and Karihatag nickel targets in northeastern Mindanao, in the Phillippines.

At Bolobolo, highlights include 9.7m of 1.19% nickel in hole BBL-52; and 10.3m of 1.01% nickel in hole BBL-98. At Karihatag, hole KL-57 returned 6.75 metres at 0.87% nickel. Both targets are located in the Surigao nickel district.

To date, a total of 466 holes have now been completed in the region, for a total of 4,990 metres. The company is aiming to drill between 7,000 to 10,000 metres to test the regional nickel targets, with the goal of converting a large portion of them to resources.

Philippines-focused Mindoro already has NI 43-101 compliant mineral resource estimates on its Agata nickel-cobalt project and Lobo and Archangel gold-silver projects. It also has an additional 22 porphyry copper-gold prospects.

The company's shares rose 10% to $0.22 as of 2:46pm EST.

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Mindoro Resources Timeline

December 07 2010

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