Lindian Resources intersects new zone of high grade gold at Masapelid in the Philippines

Lindian Resources (ASX: LIN) has discovered copper and high grade gold at the Masapelid Project in the Philippines, following assays from two recent drill holes.

Drilling on a new target at the Sabang Prospect, on the southern portion of Masapelid, has identified supergene copper-silver-gold mineralisation between 20 metres and 96 metres depth above an extensive interval of banded gold-silver-copper mineralisation.

The new target zone is located 300 metres to 400 metres south of Sabang Hill.

In the lower, banded zone, gold and silver are generally dominant.

Drilling in the supergene copper-silver-gold zone returned:

– 385.1 metres at 0.79 grams per tonne (g/t) gold, 6.54g/t silver and 0.32 percent copper from 20 metres, including 76 metres at 0.25g/t gold, 17.55g/t silver and 0.78 percent copper; and

– 44.4 metres at 0.35g/t gold, 26.75g/t silver and 0.4 percent copper from 21 metres, including 10 metres at 1.35g/t gold, 61.56g/t silver and 1.12 percent copper.

In the gold-silver-copper zone, best intercepts included:

– 2 metres at 35.48g/t gold, 34.4g/t silver and 0.14 percent copper from 103 metres, including 1 metre at 68.96g/t gold, 43.2g/t silver and 0.11 percent copper:

– 8 metres at 11.23g/t gold, 5.89g/t silver and 0.29 percent copper from 372 metres, including 3 metres at 27.89g/t gold, 12.67g/t silver and 0.58 percent copper; and

– 2 metres at 11.04g/t gold, 5.9g/t silver and 0.2 percent copper from 275 metres.

Assays from two neighbouring drill holes are pending, and Lindian plans to re-enter and extend one of the two holes already assayed, which was terminated at 45 metres depth due to core loss issues.

Further holes are planned to the northwest and southeast of the existing holes, to provide an understanding of the potential strike extension of the mineralisation.

http://www.proactiveinvestors.com.au/companies/news/25218/lindian-resources-intersects-new-zone-of-high-grade-gold-at-masapelid-in-the-philippines-25218.html

 

Category: ResourceAsia