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Drill Results/Permit Lodged
Drill Results/Permit Lodged.
About this update from Metals Exploration Plc
[{"type":"text","content":"\n Metals Exploration PLC\n07 March 2006\n\n METALS EXPLORATION PLC\n\n• ENCOURAGING DRILL HOLE ASSAY RESULTS - RUNRUNO PROJECT\n\n• EXPLORATION PERMIT APPLICATION LODGED OVER A PROPERTY IN THE BAGUIO\n COPPER-GOLD PORPHYRY DISTRICT\n\n7 March 2006\n\nThe Board of Metals Exploration PLC ('the Company') is pleased to announce that\nresults have been received for drill holes MXD7 & MXD8 of the current diamond\ndrilling programme being undertaken at its Runruno Project. These results are\ninline with the Company's expectations with good gold and molybdenum grades\nbeing intersected.\n\nThe Company has also just lodged an Application for an Exploration Permit with\nthe Mines & Geosciences Bureau in the Baguio district of Northern Luzon,\nPhilippines. The property is situated just to the north of the previously mined\nSanto Nino porphyry copper-gold mine. The Company is excited by the lodgement of\nthe application as it sits within one of the better known copper-gold porphyry\nmining districts of the world.\n\nRUNRUNO - DRILL RESULTS\n\nThe Company continues to receive exciting results from the drilling programme at\nRunruno.\n\nThe key results from holes MXD7 and MXD8 are summarised below:\n\n Drill-hole Intercept (metres) Au Mo 'in-ground value of metal'\n ID From to Width g/t % Au US$/t Mo US$/t Total US$/t\n \n MXD7 116 121 5 2.64 0.0828 48.13 45.64 93.76\n 123 125 2 1.86 0.1110 33.91 61.18 95.09\n 131 135 4 2.09 0.1643 38.10 90.55 128.65\n 148 156 8 2.36 0.0445 43.02 24.51 67.53\n\n MXD7 - total combined intercept 19 2.32 0.0868 42.37 47.83 90.20\n\n MXD8 83 88 5 2.93 0.0285 53.41 15.70 69.11\n 112 119 7 6.62 0.0438 120.68 24.12 144.80\n 138 148 10 2.29 0.0975 41.75 53.75 95.49\n\n MXD8 - total combined intercept 22 3.81 0.0647 69.51 35.67 105.18\n\n\n\nNotes:\n\n1. Reporting of the above composited intercepts was determined by applying an \n upper and lower boundary defined by a low grade cut-off of 0.7g/t Au. Some \n composited intercepts include single metre, internal intercept grades of less\n than 0.7g/t Au. Isolated single metre intercepts are not reported unless\n considered to be significant.\n\n2. No high grade cut-off has been applied to the individual gold or molybdenum \n assays.\n\n3. 'In-ground value of metal' represents an arithmetic calculation of the\n value in US$/t of the contained metal per tonne ...