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Gold in the Philippines found !!
by Peter Buchner  ·  
8,579 views  ·   0 comments  ·  

12 March

Red Mountain Mining: New high-grade gold veins on the surface discovered in Lobo, Batangas, near Manila in the Philippines - 19 m @ 9.77 g / t gold including 7 m @ 23.58 g / t

The Perth-based Red Mountain Mining Limited (ASX: RMX) ("the Company", "Red Mountain") today announced the discovery of a new high grade epithermal Goldvene to Lobo, Batangas Flagschiffgoldprojekts within the company. This is located 100 km south of Manila in the Philippines.

A continuous 19 m long channel from the surface at a distance of 1 m were sampled showed epithermal quartz-barite veins t a section of 19 m @ 9.77 g / t gold including zegite 7 m @ 23.58 g / t gold and including 0.8m @ 94.78 g / t gold.

Click here to find out more!

The vein is located at the western end of an extensive zone of anomalous gepchemischen gold soils on Ulupong-Sawahan extending over mahr than two kilometers in northeast-southwest direction, sub-parallel to the south-west breccias and the western sections of the epithermal gold vein system, the high degree of gold resources and targets home. (See Figure 1 below). Table 1 below shows the individual assay results and sections.

Red Mountain's Executive Chairman, Mr Neil Warburton said:

"The new high-grade gold vein discovery on Ulupon in Lobo gold project in Batangas is a very positive result which is now potential for the discovery of high grade routes have been opened throughout the new system. Extensive surface mapping and trenching will be carried out continuously in this field. This will then drill holes in the near future . follow this new discovery, together with the extension to the Pica total strike length of epithermal veins at Lobo could now extend from 10 km to over 15 km. "

Addition, there were regional mapping "of discovery" on Pica extensions of these mineralized vein structure to the northeast of where even the former Hole PC-02 revealed a number of epithermal quartz-barite veins with values ​​of 1.5m @ 8.53 g / t Au from 29.80 m depth. The new zone is combined with the already mapped zones I and Nagtoctoc, which expands on the structure about three kilometers. (See Figure 1). Systematic sampling on the new expansions of Pica are underway.

The discoveries at Lobo, the total number of veins in epithermal vein structures now bringing to five that were previously determined to Lobo with over 15 km of strike length. Systematic drilling tested so far only 500 meters strike length of the system in relatively shallow depths. (200 m vertically on the west route, 120 meters vertically on the Southwest Breccia). Zones of high grade gold are present on both the western route as the Southwest Breccia structure, the upper levels of the structure are characterized by high-grade copper-silver-grade and high-grade gold zones tend to occur at lower levels.

The Southwest Breccia inclusion and the latest discovery on Ulupong show the occurrence of the "gold zone" at the surface. Drilling on the western route point from a primary high-grade gold zone. More results from this program will be reported upon receipt.

Figure 3: Plan of the epithermal gold structures at Lobo

To view the entire press release, please follow the link:

http://www.irw-press.com/dokumente/RedMountainMining_120313_German.pdf

Table 1: Ulupong epithermal vein channel sample results

To view the entire press release, please follow the link:

http://www.irw-press.com/dokumente/RedMountainMining_120313_German.pdf

BACKGROUND - LOBO GOLD PROJECT:

Lobo now on, a number of epithermal veins and breccias are mapped and this over a combined strike length of over 15 kilometers Previous drilling tested only about 500 meters of strike length of the interpreted vein structures at shallow depths less than 200 m. High grade gold inclusions were on the Southwest Breccia (Indicated Resource of 178,000 t @ 7.4 g / t Au and 42.0000 oz Au and inferred resource of 16,000 t @ 5.3 g / t Au and 3,000 oz Au) were detected and the rediscovery of the West route, which is now drilled on. Regional trenching and channel sampling identified new veins / arteries and high grade targets for further drilling as already discussed in this press release.

About Red Mountain Mining Limited

Red Mountain Mining (ASX: RMX) is a gold exploration and development company and was listed on the ASX in September 2011. Strategy of the company to tap the potential of undeveloped gold and Polimetall projects in the greater Asia region is to gain by introducing Australian mining methods and improvements in the efficiency of production and significant exploration potential. The Company completed the acquisition of significant gold and copper-gold resource center in the Philippines on 30October 2012 from. Since its acquisition by the Company, the focus is to increase the resources at Batangas through the discovery of new high grade gold zones at Lobo and Archangel (eg West route and now newly Ulupong). The company is continuing to carry out drilling with the aim of the size and the degree of the JORC compliant Mineral show to raise resources to Batangas to then complete a setting in order to study the viability of gold development project with its high margins. Should other opportunities arise in interesting properties and projects, they will be evaluated.

Statement of the competent person

The information in this report relating to exploration results Mr Jon Dugdale compiled. He is a member of the Australasian Institute of Mining and Metallurgy and has absolutely sufficient exploration experience which is relevant to the various styles of mineralization and what qualifies him as a Competent Person under the provisions of the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr. Dugdale's full-time worker and executive director of Red Mountain Mining Limited. Mr. Dugdale agrees with the conclusions of this report, based on its present Informationen.Die information which are based on the mineral resources in this report refer to information compiled by Mr Ted Coupland. He is a member of the Australasian Institute of Mining and Metallurgy and has sufficient relevant experience in the various mineralization types and under consideration to qualify as a Competent Person under the rules of the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves '.Mr. Coupland's full-time worker and executive director of Red Mountain Mining Limited. Mr. Dugdale agrees with the conclusions of this report based on its available information. This is governed by the English original message of the company.

For more information on Red Mountain Mining www.redmm.com.au visit or contact:

Swiss Media Company Investor Resource Capital AG

Neil WarburtonKevin SkinnerJochen Staiger, CEO

Executive ChairmanField Public Relationsjs@resource-capital.ch

(+61) 408935014 (+61) 414822631Tel: +41 71 354 8501

(+61) 8 9226 5668 (+61) 8-82349555www.resource capital.ch

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