Subiaco, Western Australia (FSCwire) - The Board of RTG Mining Inc. (“RTG”, “the Company”) (TSX Code: RTG, ASX Code: RTG) is pleased to announce that the Mines and Geosciences Bureau (“MGB”) in the Philippines has just renewed the Exploration License (EP-000033-14-XIII) (“EP”) for the Bunawan Project in the Philippines for a further 2 years.
With the renewal of the EP, a 1,500m diamond drilling program is now planned to commence mid-November and will target key areas highlighted in the December 2015 Gradient Array - Induced Polarization (GAIP) and Dipole-Dipole Induced Polarisation (DDIP) programs.
Inversion results, when integrated with previous drilling, magnetics and geochemistry, show that mineralisation is associated with elevated IP responses.
The program will target 5 areas where the IP response from the GAIP and DDIP programs were very strong (see Figure 1 below) and coincided with the structure from the magnetics and geochemistry.
The results from this phase of drilling are expected to extend the mineralisation, both along strike and down dip from the results of the 2014 reconnaissance drilling phase.
Figure 1- Bunawan Target Zones from 2015 GAIP and DDIP programs
ABOUT BUNAWAN
The Bunawan Property is located in the east of Mindanao Island in Agusan del Sur province, approximately 190 km north-northeast of Davao and adjacent to the Davao – Surigao highway.
The Bunawan Project is centered on a diatreme intrusive complex (Mahunoc diatreme) approximately five km NE of Medusa Mining’s Co-O mine in eastern Mindanao. A number of artisanal mining operations occur within and adjacent to the Mahunoc diatreme and the area is highly prospective for the discovery of economic epithermal Au-Ag mineralisation of intermediate sulphidation / carbonate-base metal type.
Figure 2- Location plan with regional geology
Following the granting of the Exploration Permit for Bunawan in August 2014, the Company completed a successful reconnaissance drilling program of nine holes for 3,074 metres with 6 holes demonstrating mineralization, with the results announced previously on 5 February 2015.
ABOUT RTG MINING INC
RTG Mining Inc. is a mining and exploration company listed on the main board of the Toronto Stock Exchange and Australian Securities Exchange. RTG is focused on developing the high grade copper/gold/magnetite Mabilo Project and advancing exploration on the highly prospective Bunawan Project, both in the Philippines, while also identifying major new projects which will allow the Company to move quickly and safely to production.
RTG has an experienced management team (previously responsible for the development of the Masbate Gold Mine in the Philippines through CGA Mining Limited), and has B2Gold as one of its major shareholders in the Company. B2Gold is a member of both the S&P/TSX Global Gold and Global Mining Indices.
