Proactive Investors - Run By Investors For Investors

Mindoro Resources finds strong nickel, iron grades at Agata

Mindoro Resources finds strong nickel, iron grades at Agata

Mindoro Resources (CVE:MIO, ASX:MIO) announced Wednesday it intersected up to 1.2% nickel, and up to 50% iron at its Agata South property in the Suriago nickel district of Mindanao, Philippines.

Of the 10,000 metre drill program, 7,045 metres, or 645 holes, have been drilled to date at Agata South, which is part of the larger Agata project. Strong, thick nickel and iron grades were intersected at surface, the company said.

Highlights from the drill program included 1.02% nickel at 17.05 metres, including 1.2% nickel over 12.3 metres in hole ASL-3; and 1.07% nickel over 11.7 metres, including 1.08% nickel over 10.5 metres in hole ASL-10.

Several assays returned strong iron results, including hole ASL-1, which found 0.96% nickel over 12.1 metres, including 0.59% nickel, 0.11% cobalt, and 50% iron over 4.7 metres.

"Upon completion of in-fill drilling in July, we will be in a position to upgrade the resource at the Agata Nickel Project," said president and CEO, Jon Dugdale.

"The upgraded resource will be incorporated into the prefeasibility study production schedule and the near-surface high-iron material will be evaluated for early stage production."

Currently, the resource estimate for the Agata project indicates 32.6 million tonnes at 1.04% nickel, for 340,000 tonnes contained nickel in the measured and indicated category.

Mindoro, which is based in Edmonton, Alberta, said it is drill testing regional targets on the Agata project.

View full MIO profile View Profile

Mindoro Resources Timeline

December 07 2010

Related Articles

January 21 2019
Analysts at SVS said they think Sunrise offers “a clearly defined strategy focused on generating near-term cash flow together with value-enhancing minerals discoveries”
A map of the Wa project in far northwest Ghana along the border with Burkina Faso
March 05 2019
The JV partners also plan to make an investment decision on the Ghanaian project this year.
A drill rig
January 17 2019
The Finniss lease also hosts the Grants deposit, which will host the project's first mine.
Copyright ©, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use