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Lascogon Project (Surigao del Norte)
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Two types of gold mineralization namely, vein-type and stratiform or Carlin-like type, were recognized in the Lascogon prospects. The Carlin-like prospect in Lascogon contains gold-bearing jasperoid boulders, which were discovered through soil geochemical survey. Since 2005 until 2007 the subsurface exploration used diamond and reverse circulation (RC) drilling and trenching to evaluate the identified targets.
Majority of high gold values come from the Carlin-like Lascogon deposit, whereas the drilled vein-type targets yielded insignificant gold. In 2008, the company availed of the consultancy services of IRES to do a review and release a mineral resource estimate for the Project.
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Vista Alegre Project (Negros)
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The company undertook an extensive drilling campaign involving resource definition drilling at the Nagtalay Prospect and scout drilling in five other prospects within Vista Alegre Project from 2007 to 2009. More than 12,000 meters of core samples were subjected to assaying and other tests. A total 5,172 meters were drilled at Vista Alegre in 2009. While the results of the scout drilling in Southridge, Libertad and Laka Quartz areas were unattractive, the results in Skid 9 and Laburan areas were encouraging.
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Sibutad Prospect (Zamboanga del Norte)
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Drilling for porphyry style mineralization in Sibutad was terminated in May 2009. The total drilling meterage for 2009 stood at 6,775 meters from 15 drill holes. Four of these drill holes were sunk in Larayan, two in Magsaysay and nine in Lalab. Drilling was initially confined in these areas as clearance from the Mines and Geosciences was still being secured to explore outside of the company-controlled areas. The results of the drilling were negative for porphyry-style mineralization. However, several new but small gold-copper bearing hydrothermal breccia bodies were encountered that will augment the existing resource model of Sibutad. The second half of 2009 was devoted to surface exploration activities outside the confines of the company-controlled areas where gold mineralization shows affinity with Lalab.
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