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News: Red Mountain Mining finds gold up to 145g/t gold at Lobo

  1. Red Mountain Mining (ASX:RMX) has delivered some very high grade gold results from trenching samples taken from Lobo on the Batangas Gold Project, 120 kilometres south of Manila in the Philippines.

    These samples were found at the Limestone Target, located 500 metres southwest of the South West Breccia gold resource at Lobo.

    Red Mountain will test whether the high grade lode extends under limestone to the southwest and northeast. If it does the benefits could be considerable.

    Highlights from the Limestone Target, located 500 metres southwest of the South West Breccia include:

    - 3.5 metres at 25.9g/t gold, including 1.5 metres at 56.8g/t gold and 0.5 metres at 145g/t gold;
    - 2.0 metres at 14.2g/t gold, including 0.5 metres at 41g/t gold; and
    - 1.2 metres at 23.4 g/t gold, including 0.5 metres at 28.3 g/t gold.

    Next steps include bulk sampling and drilling which is planned to test lode extensions under the limestone cover.

    Jon Dugdale, managing director, commented:

    “These new gold intersections indicate that the lode is very high grade right up to the limestone contact in both directions.

    "The lode is very likely to continue under that limestone blanket. We are understandably keen to test this theory with further exploration."

    Previous trenching results from the Limestone Target include Trench 32a: 2.5 metres at 14.1g/t gold, including 0.5 metres at 38.9g/t gold.


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