An agreement with Philippine-based Allah Copper Porphyry gives Chase Resource (TSE) the right to earn a 75% interest in the Allah property on south-central Mindanao Island.
The Allah property adjoins Chase’s Bai Saripinang group of claims on its southern boundary.
Last year, Chase drilled several shallow holes on Bai Saripinang in an effort to test a series of breccia bodies. No significant values were encountered.
Work in the southern part of Bai Saripinang outlined two zones or quartz-sulphide veining, returning samples grading up to 11.6 grams gold per tonne on the Marbol prospect and up to 19.7 grams gold on the Tugal prospect.
Ground work also identified copper-gold mineralization on three areas of the Allah property, including values of up to 22 grams gold and 5.4% copper on the Banlasan prospect, 50 grams gold and 2.9% copper on the Kataan prospect and 2.1 grams gold plus 6.2% copper on the Mingkil prospect.
Chase can earn its interest in the Allah by funding the project through feasibility and making certain cash payments.
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