RTG announces further high grade intercepts and extensions to known mineralisation at the Mabilo Project

 

/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

ANNOUNCEMENT TO THE TORONTO STOCK EXCHANGE AND AUSTRALIAN SECURITIES EXCHANGE

PERTH, Western Australia, June 30, 2014 /CNW/ - The Board of RTG Mining Inc. ("RTG", "the Company") (TSX Code : RTG, ASX Code : RTG) is pleased to announce further high grade copper, gold and iron intercepts in both the North and South Mineralized Zones at the Mabilo Project in the Philippines.

Continued diamond drilling has also extended the strike of the South Mineralised Zone by 350m. The advances in geological understanding continue to highlight down dip potential and extensions to the system in the north and south zones.

Significant work has also been undertaken in re-logging of previously drilled holes to get better detailed geological understanding to help build 3 dimensional models and give better data for future targeting of holes. A further update will be released upon completion of the re-logging and the detailed geological review. Reported widths are drill intercepts, true width will be less.

Highlights of the ongoing drilling program include –

  • Hole MDH-053 intersected primary mineralised Magnetite Skarn in the South Mineralised Zone at 108m down hole and then Garnet Skarn at 160m down hole. Significant assays–


      47.05m @ 1.64 g/t Au, 1.40% Cu and 55.76% Fe and

      18.00m @ 3.12 g/t Au, 1.25% Cu and 42.16% Fe and

      18.15m @ 3.29 g/t Au, 0.80% Cu and 41.73% Fe

    • Hole MDH-054 intersected primary mineralised Magnetite Skarn in the North Mineralised Zone at 171m down hole. The intercept assayed:

      17.40m @ 1.80 g/t Au, 2.04% Cu and 48.69% Fe

    • Hole MDH-055 intersected weakly mineralised primary Magnetite Skarn in the South Mineralised Zone at 112m down hole. The intercept assayed:

      10.00m @ 1.16 g/t Au, 0.47% Cu and 43.64% Fe

    • Hole MDH-057 intersected primary mineralised Magnetite Skarn in the South Mineralised Zone at 129m down hole. The intercept assayed:

      24.70m @ 3.41 g/t Au, 2.98% Cu and 51.56% Fe

    ABOUT MABILO

    The Mabilo Project is located in the Camarines Norte Province, Eastern Luzon, Philippines. It comprises one granted Exploration Permit (EP-014-2013-V) of approximately 498 ha and Exploration Permit Application EXPA-000188-V of 2,820 ha. The Project area is relatively flat and is easily accessed by 15 km of all-weather road from the highway at the nearby town of Labo.

    Drilling is currently focused on defining the SE strike and SW down dip extent of the large South Mineralised Zone and testing the strike extension of mineralisation to the north and south of the North Mineralised Zone.

    South Mineralised Zone

    Drilling has concentrated on the South Mineralised Zone which is substantially larger than the North Mineralised Zone.

    Re-logging of the drill holes and three dimensional modelling in this Zone has facilitated better targeting for future holes. An updated long section view of isotropic copper grade shells is illustrated below.

    Drilling on two sections to the South East of previously reported MDH-046 has significantly extended mineralisation along strike with two intercepts of high grade copper and gold of significant thickness and grades.

    MDH-053

    A vertical hole drilled to test the strike continuation of the high grade mineralisation in MDH-40 and 16. The hole intersected magnetite-chalcopyrite mineralisation from 108 to 182.8 metres, visually consistent with the results from MDH-40 and MDH-16.

    MDH-053

    From

    To

    Intercept (m)

    Au ppm

    Cu %

    Ag ppm

    Fe %

    Mineralisation


    108.00

    155.05

    47.05

    1.64

    1.40

    5.06

    55.76

    Magnetite Skarn 

    including

    108.00

    116.30

    8.30

    2.31

    2.06

    3.55

    61.61

    Magnetite Skarn

    including

    118.50

    122.90

    4.40

    1.68

    1.28

    2.56

    55.57

    Magnetite Skarn

    including

    125.00

    132.00

    7.00

    1.04

    0.88

    2.11

    55.14

    Magnetite Skarn

    including

    136.00

    155.05

    19.05

    1.98

    1.65

    8.77

    54.82

    Magnetite Skarn










    and

    160.00

    178.00

    18.00

    3.12

    1.25

    7.51

    42.16

    Garnet Skarn

    and

    183.40

    185.00

    1.60

    5.79

    2.25

    28.85

    4.63

    Garnet Skarn

    and

    187.85

    206.00

    18.15

    3.29

    0.80

    5.82

    41.73

    Garnet Skarn

    MDH-055

    An angled hole drilled from the same collar as MDH-53 to test the up dip continuity of the mineralisation in MDH-53. The hole intersected a breccia zone with magnetite-chalcopyrite, pyrite and garnet skarn over 30.75 metres consistent with the intersection in MDH-44 along strike to the NW.

    MDH-055

    From

    To

    Intercept (m)

    Au ppm

     Cu %

    Ag ppm

    Fe %

    Mineralisation


    112.00

    122.00

    10.00

    1.16

    0.47

    1.72

    43.64

    Magnetite Skarn

    and

    126.00

    137.00

    11.00

    0.76

    0.30

    0.49

    50.62

    Magnetite Skarn

    and

    148.00

    157.90

    9.90

    2.12

    0.54

    1.63

    10.33

    Magnetite Skarn

    MDH-057

    A vertical hole to further test the strike extent of mineralisation in Hole MDH-53. The hole encountered magnetite skarn from 129 metres to a depth of 153.7 m. Mineralisation is similar to holes MDH-53 and MDH-40 along strike to the NW.

    MDH-057

    From

    To

    Intercept (m)

    Au ppm

     Cu %

    Ag ppm

    Fe %

    Mineralisation


    129

    153.7

    24.7

    3.41

    2.98

    8.91

    51.56

    Magnetite Skarn

    including

    129.4

    134

    4.6

    3.99

    3.6

    4.81

    51.59

    Magnetite Skarn

    including

    137.9

    140

    2.1

    6.99

    5.25

    9.55

    54.42

    Magnetite Skarn

    including

    149.2

    153.7

    4.5

    7.22

    6.42

    24.44

    51.56

    Magnetite Skarn

    North Mineralised Zone

    Drilling on the North Mineralised Zone has concentrated on exploring the north and south strike extensions of the modelled magnetite body. The mineralisation appears to be localised along the margin of the diorite intrusion and plunges shallowly to both the north and south of the modelled zone which appears to reflect a zone where the mineralisation is both wider and closer to the surface.

    MDH-054

    An angled hole to further test the mineralisation in MDH-52. The hole intersected massive magnetite-chalcopyrite from 171 - 190 metres where it passed into marble.

    MDH-054

    From

    To

    Intercept (m)

    Au g/t

     Cu %

    Ag g/t

    Fe %

    Mineralisation


    171.00

    188.4

    17.4

    1.80

    2.04

    10.99

    48.69

    Magnetite Skarn

    including

    172.00

    180.70

    9

    2.38

    2.89

    11.03

    50.07

    Magnetite Skarn

    Location of Reported Drill Holes

    HOLE

    Mineralised Zone

    Easting

    Northing

    Elev.

    Inclination

    Azimuth

    EOH

    MDH-53

    SOUTH

    476,209

    1,559,759

    125

    90

    -

    243.9

    MDH-54

    NORTH

    476,195

    1,560,298

    115

    60

    270

    231.8

    MDH-55

    SOUTH

    476,209

    1,559,759

    125

    75

    050

    180.6

    MDH-57

    SOUTH

    476,241

    1,559,720

    122

    90

    -

    287.1

    The quality assurance-quality control (QA-QC) program employed at the Mabilo Project has been described in detail in the Management Information Circular dated April 15, 2014, which is available for review on SEDAR.

    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 Limited.  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.

    NATIONAL INSTRUMENT 43-101 AND JORC COMPLIANCE

    Mr Mark Turner, BE Min(Hons), M.Aus.I.M.M.CP Man, RTG's Chief Operating Officer, is acting as the Qualified Person in compliance with NI 43-101 and JORC reporting requirements with respect to this announcement. He has prepared and or supervised the preparation of the scientific or technical information in this announcement and confirms compliance with NI43-101 and JORC requirements.

    CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS

    This announcement includes certain "forward-looking statements" within the meaning of Canadian securities legislation. Accuracy of mineral resource and mineral reserve estimates and related assumptions and inherent operating risks, are forward-looking statements. Forward-looking statements involve various risks and uncertainties and are based on certain factors and assumptions. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from RTG's expectations include uncertainties related to fluctuations in gold and other commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs, recovery rates, production estimates and estimated economic return; the need for cooperation of government agencies in the development of RTG's mineral projects; the need to obtain additional financing to develop RTG's mineral projects; the possibility of delay in development programs or in construction projects and uncertainty of meeting anticipated program milestones for RTG's mineral projects and other risks and uncertainties disclosed under the heading "Risk Factors" in RTG's Annual Information Form for the year ended 31 December 2013 filed with the Canadian securities regulatory authorities on the SEDAR website at sedar.com.

    Image with caption: "Figure 1 - Ground magnetics showing location of drill holes and sections for this release (CNW Group/RTG Mining Inc.)". Image available at: http://photos.newswire.ca/images/download/20140630_C1682_PHOTO_EN_4039.jpg

    Image with caption: "Figure 2 - Schematic long section showing copper grade shells, location of holes of this release and the extension to the magnetic model that has been achieved to date (CNW Group/RTG Mining Inc.)". Image available at: http://photos.newswire.ca/images/download/20140630_C1682_PHOTO_EN_4040.jpg

    Image with caption: "Figure 3 - Cross Section of South Mineralised Zone showing new geological interpretation associated with MDH 053 and MDH 055 (Section B shown on Figure 1) (CNW Group/RTG Mining Inc.)". Image available at: http://photos.newswire.ca/images/download/20140630_C1682_PHOTO_EN_4041.jpg

    Image with caption: "Figure 4 - Cross Section of South Mineralised Zone showing new geological interpretation associated with MDH 057 (Section A on Figure 1) (CNW Group/RTG Mining Inc.)". Image available at: http://photos.newswire.ca/images/download/20140630_C1682_PHOTO_EN_4042.jpg

    Image with caption: "Figure 5 - Cross section through the middle of the north end of the South Mineralised Zone showing the re-interpreted geology (Section C of Figure 1) (CNW Group/RTG Mining Inc.)". Image available at: http://photos.newswire.ca/images/download/20140630_C1682_PHOTO_EN_4043.jpg

    SOURCE: RTG Mining Inc.

    For further information: ENQUIRIES: Australian Contact, President & CEO - Justine Magee, Tel: +61 8 6489 2900, Fax: +61 8 6489 2920, Email: jmagee@rtgmining.com


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