Rugby Mining to Drill the Motherlode Gold-Copper Project
Rugby Mining Limited is pleased to announce that it has signed a contract with Major Drilling Group International Inc. to drill the Motherlode Gold-Copper Project (“Motherlode” or the “Project”), Surigao Del Norte, Philippines. The program is scheduled to start late-June, weather permitting.
The Motherlode deposit was mined over a strike length of 765m and a vertical depth of 245m. Production from 1937 to 1953* is reported to have been some 500,000 ounces of gold at a recovered grade of 14g/t. The mine was considered one of the Philippines’ highest grade producers*.
Rugby plans to test the depth extension to the epithermal vein system and a deeper porphyry copper-gold target indicated by an Induced Polarization survey.
(Rugby’s President and CEO Mr. Paul Joyce stated, “Since acquiring the project in 2010, Rugby has been unable to drill the immediate Motherlode mine area. In January we were granted the exploration permit necessary to finally have drill access and we have now commenced arrangements for road construction.
“Rugby plans to drill the most prospective part of the project area as defined by both the old gold workings and a large anomaly defined by our geophysical surveys. The epithermal vein system is interpreted to lie above a porphyry copper-gold system. To confirm this, our first drill hole will be oriented to intersect the epithermal veins and to continue into the deep copper-gold porphyry target. This geological model is analogous to major projects currently being explored in B.C.’s Golden Triangle (Figure 2).”
Separately, detailed mapping and auger sampling is being conducted to identify drill targets within a possible fault block to the southwest of the Motherlode mine (Figure 1).
*This historical estimate is presented is for reference purposes only. A majority of the records on actual ore produced at Motherlode were destroyed during WW2 and later by fires. However, management has examined physical evidence at the site and existing geological data to confirm that the estimation is suitable for presentation purposes.
Paul Joyce, Rugby’s Chief Executive Officer, Director and a “qualified person” (“QP”) within the definition of that term in National Instrument 43-101, Standards of Disclosure for Mineral Projects, has verified the technical information that forms the basis for this news release.
About Rugby: Rugby is an exploration company conducting “discovery stage” exploration on targets considered prospective for significant mineral deposits. The Company benefits from the experience of its directors and management, a team that has either been directly responsible for world-class mineral discoveries or have been part of the management teams responsible for such discoveries. Prior companies under their management included Exeter Resource Corporation and Extorre Gold Mines Limited, which held significant projects in South America. These companies were taken over by Goldcorp (Newmont) and Yamana respectively.
For additional information you are invited to visit the Rugby Mining Limited website at www.rugbymining.com