TVI and Echo Bay hit high-grade gold at Kingking project

Partners TVI Pacific (TVI-T) and Echo Bay Mines (ECO-T) have intersected high-grade gold zones at the Kingking copper-gold deposit in the Philippines.

Echo Bay and TVI are earning 75% and 25% interests, respectively, in the property. Benguet, one of the former property owners, retains the right to back-in for a 20% interest.

A feasibility study by Benguet in 1994 estimated a resource of 315 million metric tonnes grading 0.5 gram gold per tonne and 0.44% copper. Echo Bay expects to complete a final feasibility study by the end of 1997.

Mineralization is contained in four contiguous porphyry zones: Tiogdan, Casagumayan, Lumanggang and Bacada. The companies are almost half-way through the current phase of drilling, with 17,800 metres of a total 45,000 metres completed.

Hole 18 was drilled into the high-grade gold stockwork zone under the Casagumayan ridge, intersecting 244 metres of 0.88 gram gold per tonne and 0.20% copper. Partial results from hole 28, drilled 100 metres east of hole 18, intersected a 93-metre section of 0.77 gram gold.

Other notable intersections include: 342 metres of 0.28 gram gold and 0.34% copper in hole 10 (including 46 metres of 0.99 gram gold and 0.43% copper); 9 metres of 1.2 grams gold and 0.37% copper, and 12 metres of 0.75 gram gold and 0.31% copper in hole 13; 195 metres of 0.49 gram gold and 0.41% copper in hole 17 (including 57 metres of 0.95 gram gold and 0.38% copper); and partial results for hole 21, where 174 metres of 1.12 grams gold were cut.

Meanwhile, mapping and sampling 1 km north of the Kingking deposit has outlined an area of quartz stockworks up to 300 metres in width. In the past, local miners have high-graded individual quartz veins from this area.

East of the Kingking deposit, geological mapping and sampling of roadside exposures, along with airborne magnetic survey results, indicate the mineralization might extend farther to the east. The company plans to test several targets in this area later this year by means of a 2,500-metre drill program.