Saturday, May 20, 2006
Canadian firm confirms presence of high grade gold and silver in South Cotabato
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GENERAL SANTOS CITY (PNA) – A Canadian mining firm working on a proposed large-scale mining operation in T’boli, South Cotabato has confirmed the presence of a potentially high-grade gold and silver resource base in the area.
Alicia Nicholson, director of the Sur American Gold Corp. (SAGC), said the company’s ongoing explorations have yielded favorable results that enhanced the viability of the area’s gold and copper deposits.
“The high-grade gold-silver veins at T’boli rremain open at depth and along strike and the potential for further substantial additions to the source both within the initial block and surrounding areas are considered by the company to be excellent,” she said in a statement.
Nicholson said the company’s 2,700 hectare T’boli gold-silver epithermal project has outlined an inferred resource more than 400,000 ounces of gold and 1,500,000 ounces of silver.
The initial drilling results showed the resourced grading at 5.5 grams per ton (g/t) of gold and 21g/t silver.
The company and its local partner Tribal Mining Corp. (ITMC) have established a mineral processing plant to accelerate its ongoing exploration activities.
The company acquired a small carbon in-pulp (CIP) plant to facilitate the treatment of the mineral ores.
Rennie Blair, SAGC president, said the purchase of the plant will hasten its exploration activities which are focused on “conducting tunnel mapping and sampling as well as trenching over many areas of the deposit to confirm previous grades and determine the bulk mining potential in western areas of the deposit.”
Since last year, Blair said the company has undertaken necessary infrastructure projects which include the rehabilitation of the main access tunnel and the preparation of the tunnel portal area for necessary electrical office installation.
The T’boli area is located in area of high grade epithermal gold and silver veins and stockworks. At this very early stage of the project development, management considers the projects to have a potential in the order of 500,000 to 5 million ounces of gold with silver credits to date showing a 4:1 silver-gold ratio,” the company said.
It added that the T’boli projects “has great potential to host a much larger resource than currently defined.”
SAGC and TMC, which is mainly composed of local businessmen, started its exploration area two years ago after acquiring a 40-percent equity interest in the latter.
October 31, 2005
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Alicia Nicholson, director of the Sur American Gold Corp. (SAGC), said the company’s ongoing explorations have yielded favorable results that enhanced the viability of the area’s gold and copper deposits.
“The high-grade gold-silver veins at T’boli rremain open at depth and along strike and the potential for further substantial additions to the source both within the initial block and surrounding areas are considered by the company to be excellent,” she said in a statement.
Nicholson said the company’s 2,700 hectare T’boli gold-silver epithermal project has outlined an inferred resource more than 400,000 ounces of gold and 1,500,000 ounces of silver.
The initial drilling results showed the resourced grading at 5.5 grams per ton (g/t) of gold and 21g/t silver.
The company and its local partner Tribal Mining Corp. (ITMC) have established a mineral processing plant to accelerate its ongoing exploration activities.
The company acquired a small carbon in-pulp (CIP) plant to facilitate the treatment of the mineral ores.
Rennie Blair, SAGC president, said the purchase of the plant will hasten its exploration activities which are focused on “conducting tunnel mapping and sampling as well as trenching over many areas of the deposit to confirm previous grades and determine the bulk mining potential in western areas of the deposit.”
Since last year, Blair said the company has undertaken necessary infrastructure projects which include the rehabilitation of the main access tunnel and the preparation of the tunnel portal area for necessary electrical office installation.
The T’boli area is located in area of high grade epithermal gold and silver veins and stockworks. At this very early stage of the project development, management considers the projects to have a potential in the order of 500,000 to 5 million ounces of gold with silver credits to date showing a 4:1 silver-gold ratio,” the company said.
It added that the T’boli projects “has great potential to host a much larger resource than currently defined.”
SAGC and TMC, which is mainly composed of local businessmen, started its exploration area two years ago after acquiring a 40-percent equity interest in the latter.
October 31, 2005
Proceed to Best of Pinoys News List
Global Filipinos to organize and harness economic, social, and political power of Filipinos through networking. Click to Pinoy
ituloy angsulong
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