Chase expands Philippine assets

Junior Chase Resource (TSE) hopes to expand its Philippine assets by acquiring an 85% interest in Bai Saripinang Mining.

Chase can acquire an initial 40% by paying US$5,000 plus a US$1,000 option fee and by assuming Bai Saripinang’s debts (which will not exceed US$85,000). The remaining 45% can be acquired by paying a further US$5,000. Bai Saripinang holds exploration rights to ground near Chase’s T’Boli gold project on the island of Mindanao. The exploration property comprises six targets, centred on a series of breccia bodies, which have the potential of hosting a bulk-tonnage gold deposit.