Now that due-diligence investigations on the Capcapo property are complete, St. Genevieve Resources (TSE)is planning an exploration program for the Philippines property.
St. Genevieve has budgeted US$150,000 for exploration and definition drilling on the deposit, about 400 km north of Manila. A preliminary estimate of the mineral resource stands at 1.2 million tonnes averaging 3.52 grams gold per tonne, plus copper, zinc and silver credits.
St. Genevieve is earning a 60% interest in the deposit from Abra Mining and Industrial Corp. of the Philippines.
St. Genevieve has also staked a 37.6-sq.-km land package 10 km north of Sept-Iles, Que., in gneisses and amphibolites intruded by anorthosite and gabbro. Four base-metal showings have been found on the property, with copper contents ranging from 2% to 7%.
The company is continuing to stake ground in the area and has airborne geophysical surveys and initial ground work planned. The company has budgeted $300,000 to drill the property in early 1996.
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