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Runruno Step-out Drilling Upd
Runruno Step-out Drilling Upd.
About this update from Metals Exploration Plc
[{"type":"text","content":"\n RNS Number : 5181E Metals Exploration PLC 22 December 2009 \n \n\nMETALS EXPLORATION PLC\n\nRUNRUNO STEP-OUT DRILLING UPDATE\n\nMetals Exploration Plc (\"Metals Ex\" or the \"Company\"), the Pacific Rim natural resources exploration and development company, today announces the assay results for three holes drilled outside the current resource boundary of its 1.5 million ounces of gold and 25.4 million pounds of molybdenum Runruno gold-molybdenum project on the island of Luzon in the northern Philippines.\nOverview:\n\n\nThree diamond drill-holes drilled 700m south east of the most southerly known mineralisation of the Runruno gold-molybdenum deposit\n\n\nGold and high grade molybdenum mineralised intersections identified\n\n\nStyle of mineralisation directly analogous to the Runruno deposit\n\n\nMineralisation closely related to a north striking fault structure running parallel 300m to 400m east of the Mallilibeg fault which is directly related to the Runruno deposit\n\n\nThis fault structure has been traced to continue over 2,000m north of the three holes reported\n\n\nFurther drilling to test this zone to be completed in 2010\n\n\n\n\nDetail\n\nThree diamond drill-holes drilled from a common collar 700m south east of the most southerly known mineralisation in the Runruno gold and molybdenum deposit are interpreted to have successfully identified a discrete zone of potential gold and molybdenum mineralisation parallel but 300m to 400m to the east of the Runruno deposit. \nThe holes intersected a broad flat westerly dipping zone of alteration hosting anomalous gold and high grade molybdenum mineralisation in discrete lenses. Sample intersections include:\n\n\nHole TUD001: 6.3m @ 0.50 g/t Au; 0.128% Mo (1,285 ppm)\n\n\nHole TUD002: 8.0m @ 0.23 g/t Au; 0.148% Mo (1,478 ppm)\n\n\nHole TUD003: 6.0m @ 0.23 g/t Au; 0.027% Mo (271 ppm)\n\n\nThe style of mineralisation is directly analogous to the main Runruno deposit. \nThe mineralisation is further analogous to the Runruno deposit in that it is closely related to a north striking fault structure which parallels the Mallilibeg fault which is directly associated with the Runruno deposit. \nThe fault structure has now been trac...