Scoping study launched on Red Mountain's Batangas project
PERTH (miningweekly.com) – ASX-listed junior Red Mountain Mining has launched a scoping study to assess the potential of its Batangas gold project, in the Philippines.
The scoping study will look at development options for the 5.78-million-tonne deposit, which graded 2.2 g/t gold and 3.3 g/t silver for 408 000 oz of gold and 606 000 oz of silver.
Near-surface mineralisation will also be targeted and new drilling results are to be added to the mineral resource estimate for the scoping study.
“With our near-surface, high-grade mineralisation at Lobo, we are targeting a high early cash flow project and we are looking forward to the scoping study confirming our expectations,” said MD Jon Dugdale.
He pointed out that the Batangas project was already at an advanced stage and had a number of positive features, including an established resource, granted mining leases, close proximity to power and port infrastructure, easy access to transport and close proximity to industrial centers.
The scoping study will likely be completed by early December.
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