Mindoro Resources Limited has increased its mineral resource estimate for the Agata Nickel Project, including Surigao regional targets. This includes a total Measured and Indicated resource of 42.76 million tonnes at 1.01% nickel for 430,000 tonnes contained nickel, an increase of 10.1 million tonnes or 31% compared to the September 2010 estimate, with a slight decrease in grade.
In addition, the total Inferred resource has increased by 0.75 million tonnes to 2.435 million tonnes at 0.99% nickel. Total mineral resource estimates are tabulated below:
Measured & Indicated
| Horizon | Tonnes | Ni% | Co% | Fe% | Al% | Mg% | SiO2% |
| Umonite | 13,508 | 0.89 | 0.1 | 45 | 3.8 | 1.3 | 7 |
| Saprolite | 29,254 | 1.07 | 0.03 | 12 | 0.7 | 16.9 | 40 |
| Total | 42,761 | 1.01 | 0.05 | 22 | 1.7 | 12 | 29 |
In '000 tonnes
Inferred
| Horizon | Tonnes | Ni% | Co% | Fe% | Al% | Mg% | SiO2% |
| Umonite | 683 | 0.81 | 0.09 | 40 | 4.8 | 1.8 | 13.7 |
| Saprolite | 1,753 | 1.06 | 0.03 | 12 | 0.7 | 16.6 | 40 |
| Total | 2,435 | 0.99 | 0.04 | 20 | 1.9 | 12.4 | 33 |
In '000 tonnes
Mr Jon Dugdale president & CEO of Mindoro Resources Limited said that "This significant increase to the resource base at Agata Nickel Project and regionally will provide for additional mine life beyond the 15 year project described in the March 2011 PEA. Additionally, it provides the opportunity for early production based on high iron limonite at the top of the laterite profile."
The total resource estimate consolidates four separate deposits, Bolobolo and Karihatag prospects located approximately 20 kilometers north of Agata (North); Agata South located approximately 5 kilometers south of Agata (North) and the resource estimates for Agata North released on September 8th 2010. All resources are located within 2 kilometers of the coast. The Agata South resource is located within the Agata MPSA that has a granted Environmental Compliance Certificate for up to two million dry metric tonnes of shipping ore production per annum. Bolobolo and Karihatag are located on a granted Exploration Permit.
A total of five regional exploration targets have now been tested: Bolobolo, Karihatag and Agata South where resources have been defined, and Tapian East and Canaga where no resource has been defined to date due to lack of continuity between isolated intercepts. Mapped laterite exploration targets not yet drill tested include San Jose, Tapian Central (Mamatfa), Tapian West (Corplex), Villariza and Mat-I. Drilling will continue as access to these areas is improved. The remaining Exploration Target for these areas is under review and subject to initial drilling to determine thickness.
