Drill Tracker Weekly: RTG Extends Magnetite Skarns To Depth At Mabilo


Drill Tracker Weekly is not exclusive to Resource Investing News and is published with permission from Mackie Research Capital Corporation. It highlights drilling results in context with our database of over 10,000 drilling and trenching results. The purpose of this report is to highlight drilling and trenching results that stand out from the pack and compare them to their peer group. This report does not constitute initiation of coverage or a recommendation.

RTG Mining (TSX:RTG)

Price: $0.67

Market cap: $90 million

Cash estimate: AU$ 17 million

Project: Mabilo

Country: Philippines

Ownership: 58 percent (see text)

Resources: Indicated: 5.9 MT at 2.2g/t gold, 2.1 percent copper, 8.4 g/t silver and 49 percent iron

Project status: Resource definition

chart RTG Mining announced step-out drilling results from its Mabilo Cu-Au-Fe project in the in Camarines Norte Province of the Philippines. The project was acquired through the June 2014 merger with Australian based Sierra Mining. The drilling contractor, Galeo, has a right to earn a 42% interest in the project (to a depth of 200 metres), by providing USD$4.25 million in exploration drilling and management services. Hole MDH-100 extended the magnetite skarn a further 30 metres along strike to the south with the highest grade interval in the primary mineralization to date. Including a high grade 1.0 metre interval of 24.59 g/t Au and 3.25% Cu the hole returned 36 metres averaging 3.34 g/t Au and 3.25% Cu starting at a depth of 282 metres. The most southerly interval encountered the first occurrence of high-grade secondary bornite after chalcopyrite possibly indicating a higher temperature environment. Mineralization in the main South Body occurs in two 45 degree dipping tabular bodies of skarn mineralization with an upper garnet rich body and a lower zone of massive magnetite skarn, with significant copper and gold associated with chalcopyrite and lesser bornite. In some areas the magnetite has been weathered to form a hematite skarn, with the copper remobilized forming high-grade supergene zones, dominated by chalcocite and massive native copper. On November 2014, the Company announced an initial NI 43-101 complaint (and JORC Code) indicated resource estimate of 5.9 MT at 2.2g/t Au, 2.1% Cu, 8.4 g/t Ag and 49% Fe with an additional inferred resource of 5.5 MT grading 1.7 g/t Au, 1.5% Cu, 12.9 g/t Ag and 39% Fe. The Indicated resource includes a near surface high-grade gold zone (340,000 t @ 3.2 g/t Au) as well as a supergene Chalcocite copper zone (101,000 t @ 24% Cu) that the Company believes may be able to provide early cash flow.


Discovery History Small scale artisanal miners exploited iron, copper and gold on the property

First drill hole (2012) - 66 meters at 2.1 g/t gold, 3.0 percent copper, 46.1 percent iron

Current Holes (South Mineralized Zone): 36 meters at 3.3 g/t gold, 3.25 percent copper including 1.0 meters at 24.59 g/t gold,

8.1 percent copper, 56 g/t silver