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Sunday, February 08, 2004
Gold-silver exploration starts in T'boli
THE Sur American Gold Corporation, a Canada-based mining exploration company currently operating in Southern Mindanao, announced the start of exploration at its high gade gold'silver T'boli project in South Cotabato.
In a release at Business Wire, J. Rennie Blair, Sur American president, said that initial exploration of the area came up his historical "bonanza" gold assays of up to 656 g/t gold and 1630 g/t silver over intervals of about 0.5 meter.
The area was already explored between 1996-1997 by Sabena Corporation.
Sabena is now a 70 percent owned subsidiary of Sur American, the report said.
The previous exploration of Sabena consisted of more than 7,000 meter of core drilling that outlined an inferred resource of more than 400,000 ozs of gold and 1,600,000 ozs of silver. Drilling was only conducted to a depth of about 300 meters and all veins remain open at depth and along strike.
The T'Boli gold-silver project consists of seven high grade steeply dipping epithermal quartz veins where sampling of veins in underground development also revealed "bonanza" gold assays of up to 656 g/t gold and 1630 g/t silver over intervals of about 0.5 metre. Many other vein grades exceed 100 g/t gold with correspondingly high silver values. Assaying by the 30g fire assay technique was undertaken at the McPhar Laboratory in Manila which is an ISO 9002 accredited laboratory.
The bonanza gold values often occur in soft, extremely high grade narrow zones which, in the opinion of the Company may not have been recovered during the core drilling programs. Lack of recovery of soft rock (and often high grade gold zones) is a common problem in core drilling programs which has prompted the company to embark upon an extensive re-assaying of many of the T'Boli veins exposed in the underground development openings by bulk leaching at the JBMM laboratory at Monkayo, Compostela Valley Province where the Company conducts its initial assaying of its Comval gold samples.
The focus of the exploration program will be directed towards detailed geological work on the existing vein system and by developing adits (tunnels) along several of the major veins to provide bulk samples for metallurgical testing and to increase known resources to at least 1 million ozs of gold and 3 million ozs of silver during the first phase of exploration. This development will also create new sites for further drilling of the various veins, which as stated are all open at depth and also along strike.
In addition to the work to be undertaken at T'Boli, exploration will also be undertaken at the nearby Lam Asam alteration system which can be traced for more than 1000 meters along strike.
Aside from T'boli, Sur American has a gold project in Compostela Valley, still in the area once claimed by Sabena.
(February 8, 2004 issue)
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