106 - The International Resource Journal

86 AUSTRALIA Red Mountain Miningthe old mine, include intersections of 4.6m at5.83g/t Au and 4.11 per cent Cu from 152.8mdepth downhole, including 2.8m at 7.79g/t Au and6.55 per cent Cu.Red Mountain is confident of potentially convertingWest Drift’s gold mineralisation to resourceinventory, having confirmed it increases its goldgrade with depth. Lobo’s high-grade South WestBreccia gold structure, running parallel to WestDrift just to its southeast, has yielded, in surfacesampling high-grade gold zones of up to 9.50mat 13.53g/t Au including 1m at 41.80g/t Au and6m at 23.55g/t Au including 1m at 30.79g/t Au.Follow-up trench channel sampling delivered 5mat 10.43g/t Au, including 1m at 25.14g/t Au and2m at 18.12g/t Au including 1m at 28.69g/t Au.Additional rock chips results taken 150m southof the structure returned 4.00m at 12.23g/t Au– highlighting the potential for extensions of thisstructure.Batangas also hosts currently the El Peso,Calo and Talahib copper-gold targets. Warburtonbelieves Lobo’s mineralisation is comparable instyle to similar “gold footprints” in South East Asia,but particularly the Cracow and Pajingo gold minesin northern Queensland. His hopes for Batangasremain focused on delivering a significant resourceupgrade by 3Q 2013, and commencing a feasibilitystudy for first gold production. Internal studies ondelivering higher grade and less tonnage througha standard CIL treatment facility have reinforcedBatangas’ potential for strong commercial outcomes.Further south, Red Mountain has acquired a75 per cent stake in the small 37km² Tapian SanFrancisco copper-gold project (no defined resource)near Surigao in the northern region of MindanaoIsland. Home to the Canaga prospect, the projecthosts extensive porphyry-related alteration, coppergoldshowings and IP geophysical anomalies.Why Asia?Warburton is a strong believer in Australia’s resourcessector re-engaging with South East Asia – aregion where it once boasted strong explorationand mining links – and especially in new-era ‘miningfriendly’ countries such as the Philippines.“We can achieve a ‘first mover renaissance’ asthe Asian corridor cements its world economic powerhousecredentials over the next decade,” Warburtonsays. “It is fair to say that 20 years ago, Australia’sinternational mineral overtures were primarilyAsian focused if somewhat of relatively small scale.“Since then, as well as the Australian resourcesboom, we have tended to direct our internationalmining forays into the African continent, LatinAmerica, selected North American ventures and oflate, even dabbling in Europe and destinations such