Mundoro’s Maoling serves up gold

Vancouver — Little more than half a year since going public, Mundoro Mining (MUN-T) is reporting significant results from drilling at its 79%-controlled Maoling gold project in northeastern China.

The latest eight holes from the 20,000-metre drill program identified gold both within and outside Zone 1.

Crews encountered wide intercepts of gold mineralization, including the following:

— Hole 73 — This infill hole intersected 187.2 metres (from 91.8 metres) grading 1.25 grams gold per tonne, including 60.2 metres of 1.5 grams gold.

— Hole 75 — The infill section of the core returned 86.8 metres (from 38.4 metres) averaging 1.32 grams gold, including 52.8 metres of 1.7 grams; a further, deeper 46 metres of the core, denoted as extension drilling, cut 0.62 gram.

— Hole 77 — This infill hole delivered 171.5 metres (from 62.5 metres) assayed at 1.25 gram, including a 43.5-metre section of 2.1 grams.

— Hole 80 — This section of infill core returned 213 metres (from 116 metres) at 1.12 grams, including 87.8 metres of 1.69 grams gold.

Gold at Maoling is orogenic or mesothermal. Disseminated mineralization occurs in wide areas of sheeted quartz vein sets along with associated sulphides in meta-sedimentary rocks.

Zone 1 is a westerly dipping (at 60) mineralized body with a true thickness that varies from 90 to 200 metres. The zone has several hundred metres of strike and 500 metres of downdip extension, both of which remain open.

Zone 4 has been explored less extensively but is known to contain a mineralized body more than 1.5 km long, 120 metres wide, and with 250 metres of dip (open).

Zones 1 and 4 have a combined indicated resource of 25.9 million tonnes (within just Zone 1) grading 1.3 grams gold, equivalent to 1.1 million oz. gold. A further inferred resource of 117 million tonnes (in both zones) averaging 1.2 grams gold adds 4.4 million oz. gold to the contained metal count. The estimates are based on a cutoff grade of 0.75 gram gold per tonne, and on data obtained from drilling and trenching.

The current program consists of 20,000 metres of drilling plus metallurgical, environmental and geotechnical studies. Mundoro is attempting to upgrade the inferred resource to the status of indicated and measured. Data from this phase of drilling will be incorporated into a revised resource estimate later this year, followed by a prefeasibility study.

The company envisions the project as an open pit, heap-leach operation.