Sydney - Thursday - Sep 21: (RWE Australian Business News) -...

Sydney - Thursday - Sep 21: (RWE Australian Business News) -
ElDore Mining Corporation Ltd (ASX code: EDM) today announced a new
mineral resource of about 277,000 ounces of gold at its Nalesbitan Hill
gold deposit in Luzon, Philippines.
This resource (using a cut-off grade of 0.5g/t gold) comprises:
* Indicated - 2.41m tonnes at 1.15g/t Au (89,000 ounces gold);
* Inferred - 5.37m tonnes at 1.09g/t Au (188,000 ounces gold);
* Total - 7.78m tonnes at 1.11g/t Au (277,000 ounces gold).
This is an increased and higher-confidence revision of the
previous resource (250,000 ounces gold) announced on March 6 and
includes results from a further 2841 metres of RC drilling (45 holes)
and 70.2 metres of diamond core drilling (two holes) that have been
completed since drilling restarted in May.
The resource is based on digital block modelling and
geostatistical estimations carried out by independent resource
consultants Hellman & Schofield using data from some 90 core and RC
holes drilled by Renison Goldfields in the 1980s, two holes by Triarx in
1996 and a total of 52 holes completed by ElDore.
Also, an estimate using a cut-off grade of 0.3g/t gold provides
an overall inferred resource of 12.29 million tonnes at 0.84g/t gold for
a total of 330,000 ounces of gold.