An exploration verification program aimed in part at determining the tonnage of a near-surface copper oxide zone, the grade of acid-soluble copper and the precious metal (gold and silver) content at the Hinobaan deposit in the Philippines is under way, project partners Starmin Mining (TSE) and Adonos Resources (VSE) report.
The property underwent drilling in the early 1970s. The work will include extraction of a bulk sample, which will be used for acid leach-electrowinning tests.
A second aim of the program is to verify the gold and silver content of the primary sulphide deposit. Also planned is a preliminary evaluation of the remainder of the property (Hinobaan underlies only a few of the claims) for bulk minable gold and porphyry copper deposits.
A prefeasibility study is expected by year-end. The companies say the study will be updated to bankable feasibility status upon completion of the ongoing work program, likely by mid-1992.
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