Mindoro Resources Ltd.: Expanded Nickel Laterite Resource Potential Enhances Foundation for Value-Added, Local Processing
Filed under: Mineral - Copper, Mineral - Gold, Mineral - Nickel, Operator - Mindoro Resources Ltd, Region 13 - Agusan Del Norte
From: Marketwire.com
EDMONTON, ALBERTA–(Marketwire - Feb. 26, 2008) - Mindoro Resources Ltd. (TSX VENTURE:MIO)(FRANKFURT:WKN 906167) is pleased to advise that reconnaissance geological mapping of its Surigao District tenements, north of its Agata project, has greatly expanded their global nickel laterite resource potential. Mapping at Agata had previously outlined an area of potential nickel laterite mineralization covering approximately 600 hectares in the Agata North and Agata South project areas where resource delineation drilling programs are ongoing. Results of the regional mapping program indicate potential for a further 1,650 hectares of nickel laterite mineralization on the adjacent Tapian Main, Tapian SF and Mat-I tenements. This further reinforces Mindoro’s plans to evaluate the feasibility of establishing a local processing plant to maximize economic returns to all stakeholders.
SURIGAO NICKEL LATERITE DISTRICT
The Surigao District in north-east Mindanao, Philippines, is not only a current and historical gold producing district but, with the recent discovery of a cluster of porphyry copper gold deposits, it also has high potential to become a major copper-gold camp. Mindoro has multiple gold and copper-gold targets in the District at varying stages of drill evaluation.
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