Mindoro Resources Ltd.
2200 Oxford Tower
10235 - 101st Street
Edmonton, Alberta
Canada, T5J 3G1
Web: www.mindoro.com
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| Exchange | TSXV |
| Exchange Symbol | MIO |
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Share Structure as of: February 6, 2011
Issued & Outstanding: 252 million
Fully Diluted Shares: 291 million
Rob King
VP
Mindoro Resources Ltd.
+61.3.9614.5055
ir@mindoro.com
Jeanny So
Director of Operations
CHF Investor Relations
+1 416.868.1079 x 225
jeanny@chfir.com
Jeremy Hill
Associate Account Manager
CHF Investor Relations
+1.416.868.1079 x 238
jeremy@chfir.com
Content last updated on 01.06.12
Mindoro Resources Ltd. (TSXV: MIO, ASX: MDO, Frankfurt: OLM) Mindoro Resources is a Philippines focused explorer with a strong foundation of nickel, gold and copper projects and a well-established social and environmental "licence to operate". Mindoro is focused on advancing nickel, gold and copper projects through resource growth, scoping studies and feasibility then into production.
Outstanding nickel, copper and gold assets.
Mindoro has established mineral resource estimates containing over 450,000 tonnes of nickel at Agata (see tonnage and grade below), has two gold mineral resource estimates at Batangas, with upside potential and drilling underway, and resource potential at Pan de Azucar massive Cu-Au bearing sulphide.
A scoping study and preliminary economic assessment of the Agata Nickel Hydrometallurgical Project indicates potential for lowest quartile operating costs for over 18,000 nickel tonnes per annum production for at least 15 years. A pre-feasibility study is close to completion as well as scoping studies on early stage DSO high-iron and thermally-upgraded shipping ore production.
Strong upside potential remains within an outstanding portfolio of epithermal gold and porphyry copper-gold prospects.
READ THE MINDORO ARTICLE IN CHF SPOTLIGHT, ISSUE NO. 61.
- Strong board and management with discovery track record and mine development experience
- Advanced stage project portfolio: Nickel, Gold, Copper-Gold- NI 43-101 Mineral Resource estimates on Agata nickel-cobalt project and two gold projects
- Preliminary Economic Assessment indicates high-value, low operating cost nickel project
- Two drilling programs underway on nickel, copper-gold and gold projects
2011 Milestones
- Q1/2 Agata Nickel Project Preliminary Economic Assessment
- Drilling Surigao regional nickel laterite targets
- Commence Pre-feasibility Study on Agata hydromet project
- Drilling Cu-Au on Pan de Azucar & Tapian San Francisco
- Q3 Upgraded resource estimate from regional nickel laterite targets
- Scoping Study on production of thermally upgraded shipping ore
- Q4 Resource/target on Pan de Azucar Cu-Au Project and metallurgy
- Drilling on Lobo/Batangas and Archangel gold targets
- Pre-feasibility study on Agata Stage 2 hydromet project
AGATA NICKEL LATERITE PROJECT: 75% economic interest, options for remaining 25%
Mindoro has defined a significant nickel-cobalt-iron laterite resource at Agata North (part of the Agata Nickel Project).
Agata Measured & Indicated Resources: 42.7Mt @ 1.01% Ni (430,000t Ni) +Inferred of 2.4Mt @ 0.99% Ni (24,000t Ni).
- Outstanding metallurgy, infrastructure and locational advantages
- Preliminary Economic Assessment indicates lowest quartileoperating costs of <$3 per Ni lb for 18,000t Ni pa over 15 years
- A pre-feasibility study close to completion on the acid-leach project in addition to a scoping study on DSO high-iron and early stagethermally-upgraded shipping ore production
Surigao Regional Defined Exploration Targets: five of 10 regional targets tested. Drilling to continue to grow total resource base towards "world-class".
The potential quantity and grade of the Exploration Target described is conceptual in nature, there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.Until a feasibility study has been completed there is no certainty that the Company’s projections will be economically viable.
BATANGAS PROJECTS: 100% economic interest
ARCHANGEL
Archangel gold resources - NI 43-101 resource estimate:
| Category | Tonnes | g/t Gold | Contained Ounces |
| Indicated | 9,879,000 | 1.06 | 337,500 |
| Inferred | 3,741,000 | 0.81 | 97,200 |
LOBO
Lobo high-grade gold resources:
- 270,000t @ 6.49 g/t (56,000 oz Au) indicated and 61,000t @ 5.35 g/t inferred (10,500 oz Au).
- Drilling in progress testing 5km mapped epithermal vein system. Previous intersections include 17.4m @ 9.6 g/t Au; 32.2m @ 9.5 g/t Au. Recent result 9.0m @ 6.56 g/t Au including 5.0m @ 11.27 g/t Au.
- Porphyry Cu-Au targets yet to be fully tested.
PAN DE AZUCAR PROJECT: 75% economic interest
Valderama copper-gold massive sulphide:
- Recent drilling highlights include:39m @ 1 g/t Au, 1.89% Cu from 2.8m depth; 32m of 1.15 g/t Au, 0.48% Cu from 1.6m depth (including 16m of 2.11 g/t Au, 0.78% Cu); 13m @ 0.62 g/t Au, 2.53% Cu from 10m depth and 54.8m @ 1.17% Cu 0.77 g/t from 20.75m.
- Drilling has defined a 1km x 200m shallow dipping zone of massive pyritic sulphide plunging shallowly to the northeast and open at depth
- Resource estimate/exploration target is in preparation on the Cu-Au-S sulphide and metallurgical testing initiated
SURIGAO COPPER-GOLD PORPHYRY TARGETS: 75% economic interest, options for remaining 25%
American Tunnels Prospect (adjacent to the Agata Nickel Laterite):
- 6km trend of geophysical anomalies and gold and copper mineralization.Reconnaissance drilling and sampling of underground artesianal mines returned 24m @ 2.8 g/t Au, 29.4m @ 2.50 g/t gold, 49.7m @ 5.7 g/t Au 33.8m @ 3.1 g/t Au.
Tapian San-Francisco (TSF) Prospect:
- 3.5km x 2km porphyry-related alteration with abundant copper and gold showings, large copper-gold-zinc soil anomalies and associated geophysical (chargeability, resistivity and magnetic) anomalies. TSF occurs on strike from the world-class Silingan Cu-Au resource of Philex Mining.
Tony Climie, P.Geol., is a "qualified person" as defined by National Instrument 43-101 and the person who has reviewed the technical disclosures herein.
Boyd Willis, MAUSIMM, is a qualified person as defined by National Instrument 43-101, and a Competent Person as defined by the JORC Code and has reviewed and verified the disclosures of a development nature herein.
The nickel laterite mineralization on the northern Surigao Projects is currently an exploration target only. Detailed drilling will be required to move the Exploration Target into NI 43-101-compliant resources. There is no guarantee that these resources, if delineated, will be economic or sufficient to support a commercial mining operation. Until a feasibility study has been completed there is no certainty that the company's projections will be economically viable. This webpage may contain forward-looking statements which involve known and unknown risk, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Rob Garden - Chairman & Director
Howard Walker - Vice Chairman & Director
Jon Dugdale - President, CEO & Director
Tony Climie - COO & Exploration Director
Rob King - VP Commercial & CFO
Oscar Reyes - Director
Doug Frondall - Director
John Tosney - Director
Christopher De Guingand - Director