Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Mining Group begins drilling of newly discovered copper-gold target in Philippines  Join our daily free Newsletter

MENAFN - ProactiveInvestors - Australia - 14/11/2012

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - ProactiveInvestors - Australia) Mining Group (ASX: MNE) has begun diamond drilling to test the copper and gold system recently discovered at Tagpura North, part of the 80% owned Comval copper-gold project in the Philippines.

Tagpura North lies about 1 kilometre north of the historic Tagpura East resource.

Mining Group previously discovered extensive gold rich skarn and diorite at Tagpura North with peak assays up to 3.58% copper and 12.52 grams per tonne (g/t) gold from rock chips.

The company has defined a 500 metre by 300 metre target zone that is open along strike to the northeast which is a significantly larger footprint than the Tagpura East resource.

It has returned some of the highest copper and gold grades seen within the project area from rock chip samples to date.

Importantly, the newly discovered Tagpura North skarn, located only 750 metres from the Tagpura open pit mine, has the potential to further build on the resource base.

Last month Mining Group delivered its first resource for the project of 32.675 million tonnes at 0.42% copper and 0.13g/t gold for 136,100 tonnes of contained copper and 138,900 ounces of contained gold.

Importantly, this includes a high grade resource of 8.987 million tonnes at 0.63% copper and 0.2g/t gold, which is all at surface and expected to have a low stripping ratio.

Drilling is expected to continue over the next two to three months.

Zeff Reeves, managing director, told Proactive Investors last month the drilling of the Tagpura North Target will involve two to four holes, depending on how the first two look.

Over the broader Comval Project, Mining Group is currently assessing its resource models and will be looking at further drilling on the Tagpura East deposit and possibly Kalamatan once ground geophysics are completed.

 






  MENA News Headlines


 
Click to Apply






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help