Two drills are at work at the Canatuan copper-gold property of TVI Pacific (ASE) on the Philippine island of Mindanao.
An initial 27-hole program is testing the relatively flat-lying deposit’s 1.2-km strike length. The property has not been drilled previously. Infill drilling will follow in an attempt to define the gold-bearing gossan-laterite-oxidized schist cap and supergene massive sulphide zone. Stepout drilling will then be used to outline the massive sulphide body. A total of 4,000 metres of drilling is planned.
Meanwhile, the company says small-scale miners are working the Z-Gold claims 2 km northeast of Canatuan.
A reconnaissance program for the holdings, including the Z-Gold claims, is planned for later this year.
Calgary-based TVI has been negotiating with Benguet Corp. to acquire six claims which form part of the Canatuan property, subject to a royalty and a back-in provision.
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