Red Mountain Mining (ASX:RMX) has hit high grade gold at its Lobo project in Philippines intersecting up to 28.69 grams per tonne of gold.
The results are from additional surface trench channel sampling along strike from the South West Breccia gold resource at the project.
It included 5 metres at 10.43 grams per tonne of gold including 1 metre at 25.14 g/t gold and 2 metre at 18.12 g/t gold including 28.69 g/t of gold.
The trenching results build on its recent success at West Drift epithermal lode structure where the first hole of a 10-hole diamond drilling program returned an intersection of 8.6 metres at 2.53 grams per tonne (g/t) gold from 136.6 metres, including 0.85 metres at 5.59g/t gold and 1 metre at 4.62g/t gold.
Review of historical rock chip samples above 2 g/t along the epithermal vein-breccia structures adds additional targets with highest value of 72.6 g/t gold at Signal prospect.
These strengthen the company’s view that the Lobo epithermal vein-breccia structures will host additional high-grade gold.
The company is now undertaking a systematic program to channel sample all of the identified epithermal vein-breccia structures at Lobo as well as explore for new high grade gold bearing structures.
Red Mountain has identified over 10 kilometres strike length of mapped epithermal vein-breccia structures and interpreted extensions at Lobo. Drill tests have been done previously at depths of 100 metres.
Red Mountain conducted an initial surface sampling of the epithermal vein trend between SWB and surface outcrops approximately 150 metres to the south of the resource. Results to date have identified the potential for extensions to the known resource as well as additional high grade gold mineralisation.
Red Mountain completed the acquisition of significant gold resources and copper gold tenements in the Philippines in October 2012.
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