announcement

Perth-based copper developer Mining Group Limited (ASX: MNE) is pleased to announce latest results from its ongoing grade control-style sampling at the Descubridora underground mine (Descubridora Mine) at the El Roble Copper Project in Chile.
Highlights
• Recent sampling of new exposures has encountered a high-grade gold zone at the Descubridora Mine.
Results include:
? 2.30m @ 3.54% Cu, 3.83g/t including 0.80m @ 8.28g/t Au
? 2.10m @ 1.66% Cu, 4.60g/t Au including, 0.80m @ 7.30g/t Au
? 2.50m @ 2.24% Cu, 4.44g/t Au including 0.50m @ 11.80g/t Au
? 1.00m @ 7.95% Cu, 1.34g/t Au
• High-grade gold results further confirm high-grade nature of the El Roble vein system.
High-grade gold results
Mining Group has an exclusive option to acquire up to 90% of the El Roble Copper Project (Project), located in the iron oxide copper gold (IOCG) Coastal Cordillera Belt of Chile, approximately 30km from the Chilean port of Caldera. The Project covers approximately 6,000ha and is being actively mined on a small scale by the owner. Ore is treated at one of the two toll treatment plants located within 80km of the Project.
As part of the Company’s ongoing assessment of the Project, regular grade control face sampling has been undertaken on drive (tunnel) development faces within the Descubridora Mine. The Descubridora Mine is located approximately 5km south of the Panga Mine, where the Company has signed a production agreement and is currently assessing the viability of commencing mining through a bulk sampling process.
The latest high-grade gold results, in conjunction with already known very high-grade copper results of up to 34.40% (ASX Announcement 4 March 2014) from Descubridora, further demonstrate the high-grade nature of the El Roble vein system.
The Descubridora vein is currently accessed via the installation of along-strike drives (underground tunnels) with typical dimensions of 2.20m in height by 2.20m in width. Samples of in-situ rock across newly exposed faces and also of broken rock immediately following blasting and mucking of ore from the drive faces are taken, in conjunction with geological mapping.
Commenting on the results from Descubridora, Mining Group Managing Director, Mr Zeff Reeves said: “These high-grade gold results are a real bonus when considering the economics for the El Roble Project. The El Roble vein system has consistently produced some exceptional copper results and now we are seeing some very good gold results which have the potential to add further value to the Project.