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1) https://www.mindoro.com/s/Deutsch.asp?ReportID=113249&_Type=Deutsch&_Title=V erstrkte-Marktaktivitt
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Re: Press Releases - Friday, August 05, 2005
Update on Surigao Projects: Drilling Planned on Multiple Porphyry
Copper-Gold Prospects
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Mindoro Resources Ltd. (TSX-V: MIO; Frankfurt: OLM) today provided an
update on the Surigao Joint Venture on Mindanao Island in the
Philippines. Two phases of exploration during the past year have been
carried out over porphyry copper-gold targets on the projects. Phase
one results from the major geophysical programs were reported in news
releases dated Jan. 8, 2005 and Jan. 18, 2005. The phase two program,
aimed at fine-tuning drill targets, has recently been completed.
Between seven and eight porphyry copper-gold prospects have been
defined. Five of the prospects on the Tapian San Francisco and Agata
Projects are now drill-ready.
"Mindoro has worked very hard at accumulating these projects since
1997, advancing them, and holding on to them during some tough years.
We are very excited to have located so many porphyry copper-gold
prospects. We look forward with keen anticipation to major drill
programs on these targets over this, and future years," said Tony
Climie, President of Mindoro.
At Tapian San Francisco, located about eight kilometers from the
Boyongan and Bayogo porphyry copper-gold deposits of Anglo-Philex Gold,
and in a similar structural setting, a cluster of seven geophysical
anomalies were defined over the past year by Induced Polarization (IP)
surveys. Of these, two porphyry copper-gold prospects, referred to as
C5 and C6, have been brought to the drill stage. Both are reflected by
extensive IP chargeability anomalies with capping resistivity anomalies
and exhibiting a classic porphyry expression. These are coincident with
porphyry-related rock alteration, and copper, gold and zinc-in-soil
geochemical anomalies. Copper, gold, zinc and molybdenum mineralization
is associated with C6. High-grade copper-gold-silver mineralized
vein-breccia diorite boulders are associated with C5 and interpreted as
"leakage" from porphyry copper-gold mineralization nearby. Several
other prospects at Tapian San Francisco have the potential to be
brought to the drill stage over the next year.
IP surveys on the Agata Project defined especially strong and extensive
chargeability anomalies, also in a favorable structural setting near
the intersection of cross-faults with the Philippine Fault.
Porphyry-related vein mineralization was drill-intersected on the
Assmicor prospect by Mindoro in 1999. Current work has focused on
bringing the Agata North and South porphyry prospects to the drill
stage.
Strong and extensive chargeability anomalies were defined at Agata
North, with correlating copper-zinc-gold-in-soil anomalies, extensive
rock alteration and fracturing, and several copper showings. The
stacked anomalies are consistent with a porphyry copper-gold system at
depth.
A large and very strong chargeability anomaly, with flanking
resisitivity anomalies, was defined at Agata South. Porphyry-related
alteration has been mapped near-by. Extensive copper-gold and zinc-in
soil anomalies have been defined, as well as copper showings, and
abundant epithermal gold prospects, some of which are being actively
mined by artisanal miners. These multiple stacked anomalies point
strongly to the presence of a porphyry copper-gold system at depth.
Details of the 2005-2006 field program are being finalized with
Mindoro's joint venture partner, with the objective of drilling three
to four of the Surigao porphyry copper-gold prospects. Drilling is
anticipated to commence on Agata in the next few months.
The Surigao Joint Venture holds one of the largest land positions in
the Surigao Gold District where there have been several significant
porphyry copper-gold discoveries in recent years (maps can be seen on
Mindoro's website). The Surigao Joint Venture partners are Mindoro,
Minimax Mineral Exploration Corp., a private Philippine company, and
Panoro Minerals Ltd., the current funding partner. At production, both
Mindoro and Panoro can each have a 42.5 % interest, with Minimax
retaining 15%.
Work is carried out under the supervision of Tony Climie, P. Geol., who
is a qualified person as defined by National Instrument 43-101.
ABOUT MINDORO
Mindoro is a Tier One Company trading on the TSX Venture Exchange
(TSXV: MIO) and the Frankfurt Stock Exchange (OLM). The Company is
exploring for gold and gold-copper in the prolifically mineralized
magmatic arcs of the Asia-Pacific Region. Mindoro has been active in
the Philippines since 1996 and is presently focused on six promising
projects in politically stable jurisdictions of the Philippines.
For further information, contact
Head Office
Penny Gould, Executive Vice President
Phone: 1-780-413-8187
Fax: 1-780-426-2716
Email: penny@mindoro.com
Website: https://www.mindoro.com
Investor Relations
Marshall Farris, Ascenta Capital Partners Inc.
Phone: 1-604-628-5800
Toll Free: 1-866-684-4209
Email: info@ascentacapital.com
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
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Copyright (c) 2005 MINDORO RESOURCES LTD. (MIO) All rights reserved.
For more information visit our website at https://www.mindoro.com/ or
send mailto:info@mindoro.com
Message sent on Fri Aug 5, 2005 at 9:48:49 AM Pacific Time
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