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| Index > Projects > Philippines Exploration > Labo |
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 The Labo Project is located in the Paracale gold district in Camarines Norte Province, which has historical production exceeding 5 million ounces of gold and significant silver. Indophil is a significant tenement holder in the district with 2 adjacent tenements, De Jesus and Palado. Several styles of precious and basemetal mineralisation are present within and adjacent to the Project area.
Grid-based exploration by Indophil on the De-Jesus tenement has defined four major soil gold anomalies (Figure 7) leading to encouraging trench results at the Pael and Gaerlan prospects including 8m at 8.03g/t gold, 7m at 7.34g/t gold, 13m at 4.97g/t gold and 20m at 1.58g/t gold. A limited program of shallow exploration diamond drilling (1028.4m) was subsequently completed at these prospects with 10 out of 11 drill holes intersecting significant gold mineralised zones including 5.99m at 4.87g/t gold and 8.24m at 2.61g/t gold.
Previous reconnaissance geological and stream sediment geochemical exploration by Indophil coupled with an integration of historical exploration data over the area of the Palado tenement has identified several prospect areas for diverse styles of mineralisation. This includes an area within and adjacent to the northern part of the tenement application where previous district wide stream sediment survey by the United Nations had recorded its highest gold values. In this area 16 out of 57 stream sediment samples gave gold values above 0.5g/t with 9 samples averaging 3.4g/t A letter of agreement was signed with Coral Resources Ltd. Coral Resources will fund exploration on the Labo properties to a level of A$1.5m to earn a 51% equity. Indophil then has the option to participate or dilute. |
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| Disclaimer | © 2008 Indophil Resources NL |
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