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Mining Group’s Comval project in the Philippines reveals its copper, gold potential

23-Jan-2012 Intellasia | proactiveinvestors.com.au | 4:27 PM

Mining Group’s Comval project in the Philippines reveals its copper, gold potential

Mining Group (ASX: MNE) is proving up the potential of the Maangob skarn target at its Comval project with recent drilling and underground adit sampling work indicating a possibly economic copper-gold deposit.

Highlights from drilling include 170 metres at 0.46 percent copper and 0.06 grams per tonne (g/t) gold including 34 metres at 1.2 percent copper and 0.2g/t gold.

Results from underground adit sampling include 86 metres at 1.01 percent copper, 0.2 grams per tonne (g/t) gold and 1.56g/t silver.

Sampling has identified an approximately 100 metre wide by 250 metre long zone of copper mineralisation based on a 0.25 percent copper cut-off.

This mineralisation is open along strike to the north and south and down dip.

The Comval Project is located within the East Mindanao Ridge in the Philippines, which is a world class copper-gold province.

The East Mindanao Ridge hosts major deposits such as the 10.3 million gold ounce Kingking, which also contains 5 billion pounds of copper, the 10 million ounce Dilwalwal and the 2.5 million ounce CoO.

Mining Group is advancing the exploration and evaluation of its 80 percent-owned Comval project by undertaking a full data compilation and review with a view to calculating a maiden JORC Resource for the Tagpura and Maangob targets.

The company is also undertaking resource definition and extensional drilling at Tagpura and extensional/exploration drilling at Maangob, Kalamatan and newly identified targets, as well as high level Scoping Study to assess the economic viability of these projects. -by Angela Kean

http://www.proactiveinvestors.com.au/companies/news/24388/mining-groups-comval-project-in-the-philippines-reveals-its-copper-gold-potential–24388.html

 


Category: ResourceAsia

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