Mindoro Reports Further Drill Results From Agata Nickel Laterite Projectadmin
Mindoro Resources Ltd. report results for a further 23 drill holes from the Phase 2 drill program on the Agata North Nickel Laterite Project, Philippines. For the 18 drill holes that are within the area of mineralization, the limonite horizon averages 1.09 percent nickel, 0.12 percent cobalt and 44.55 percent iron over an average thickness of 3.26 meters. The underlying saprolite horizon averages 1.16 percent nickel and 12.35 percent iron over an average thickness of 4.84 meters. Grades and thicknesses are consistent with those previously reported and continue to be of potential economic interest. The drill program is continuing to expand the resource.
On August 12, 2008, Mindoro reported an NI 43-101 mineral resource estimate from Agata North (see About the Agata Nickel Laterite Project). Objectives of the ongoing drill program are to completely drill out the Agata North resource; leading to an evaluation of the most applicable processing technologies, and selection of the optimal method to advance the project. Results of a further 75 drill holes are awaited and drilling is ongoing with four drill rigs. Current drill spacing is on 100 meter centers, adequate for at least inferred resource category and likely indicated resource category for much of the mineralization.
A full listing of the latest drill results and a drill hole location map is available with this release on Mindoro’s website.