Junior Chase Resource (CQS-T) will not proceed with plans to acquire a 75% stake in the Philippine company that owns the T’Boli gold prospect on Mindanao Island.
Chase ceased exploring the the 4,500-ha property in 1995, following a flood and related environmental problems.
“We’ve got bigger and better targets outside the T’Boli mines operating agreement,” says Chase President Ian Rozier.
Chief among those is the Allah gold-copper prospect, also on Mindanao, in which Chase can earn a 75% interest. Diamond drilling began there in late October.
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