Mindoro investment Red Mountain Mining discloses high-grade gold results

Tuesday, Dec 04, 2012

Mindoro Resources Ltd. (TSX VENTURE:MIO) (ASX:MDO) (FRANKFURT:WKN 906167) is pleased to announce that its 56% owned investment ASX listed Red Mountain Mining Ltd (ASX:RMX, "Red Mountain") has disclosed high-grade gold results from two areas on its 100% interest Batangas project, south of Manila in the Philippines.

Drilling has also now commenced testing the West Drift "lode" on the Lobo project, where previous drilling by Mindoro indicates a potential target zone of greater than 400 metres strike length, with increasing gold-grade with depth.

Mindoro President and CEO Jon Dugdale said, "We are very pleased with the initial high-grade results from the Red Mountain program at Batangas. The Batangas gold assets are now owned and operated by Red Mountain, a gold focussed exploration and Development Company in which Mindoro has a majority stake. We look forward to further encouraging results from the Red Mountain program."

Further details can be seen in recent Red Mountain releases accessible on the Red Mountain Mining Ltd website, http://www.redmm.com.au/html/s01_home/home.asp. Mindoro policy, as a substantial shareholder of Red Mountain, is to provide summaries of news released by Red Mountain from time to time. Investors are advised to consider Red Mountain news releases before buying and selling Mindoro shares.

Source: Markewire