Lindian Resources intersects new zone of high grade gold at Masapelid in the Philippines
An Australian firm; 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 mineralization between 20 meters and 96 meters depth above an extensive interval of banded gold-silver-copper mineralization.
The new target zone is located 300 meters to 400 meters 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 meters at 0.79 grams per ton (g/t) gold, 6.54g/t silver and 0.32% copper from 20 meters, including 76 meters at 0.25g/t gold, 17.55g/t silver and 0.78% copper; and
- 44.4 meters at 0.35g/t gold, 26.75g/t silver and 0.4% copper from 21 meters, including 10 meters at 1.35g/t gold, 61.56g/t silver and 1.12% copper.
In the gold-silver-copper zone, best intercepts included:
2 meters at 35.48g/t gold,
34.4g/t silver and 0.14% copper from 103 meters
including 1 meter at 68.96g/t gold,
43.2g/t silver and 0.11% copper:
- 8 meters at 11.23g/t gold,
5.89g/t silver and 0.29% copper from 372 meters,
including 3 meters at 27.89g/t gold, 12.67g/t silver and 0.58% copper; and
2 meters at 11.04g/t gold,
5.9g/t silver and 0.2% copper from 275 meters.
Assays from two neighboring drill holes are pending, and Lindian plans to re-enter and extend one of the two holes already assayed, which was terminated at 45 meters 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 mineralization.
