TVI skims hot grades from Philippine surface

TVI Pacific (TVI-T) has received encouraging results from early exploration at its Buenavista gold project on the Philippine island of Luzon.

Since acquiring the 2,473-ha property in July, TVI has conducted mapping and sampling in preparation for drilling in November. Although it has identified four prospective areas, the company focused on what it terms the main project area, which comprises five quartz vein systems: Bulo, Gitara, Suerte, Esperanza and Uranus.

Results have been received from 288 channel samples at Bulo, Gitara and Suerte.

Quartz vein samples showed an average grade of 7.98 grams gold per tonne over an average width of 0.88 metre, whereas adjacent wallrock (within 1.24 metres of veins) returned 3.42 grams gold.

The property is 180 km southeast of Manila. It lies between splays of the major Philippine fault zone and is underlain by a metavolcanic-sedimentary sequence intruded by porphyritic diorite.

Mineralization there is characterized by high-grade quartz vein systems hosted mainly in diorite intrusive rocks, and alteration consists of quartz-chlorite in adjacent wallrock. Sulphides are rare, and argillic alteration is generally absent. Aside from local trace copper values, the mineralization is essentially barren of other metals.

The vein systems have a dominant northeasterly orientation, but northwesterly oriented veins are also present. TVI has interpreted the principal northeasterly vein systems to be tensional zones related to strike-slip movement along splays of the Philippine fault. The vein systems tend to form topographic highs and prominent ridges throughout the property; the five quartz vein systems of the main target area form a series of ridges.

Underground sampling results from accessible workings on the Bulo, Gitara and Suerte veins include:

* 0.85 metre grading 9.6 grams, as well as 1.61 metres of 5.51 grams in wallrock, at Bulo;

* 0.91 metre grading 3.01 grams, as well as 0.91 metre of 1.67 grams in wallrock, at Gitara; and

q 1 metre of 4.89 grams, as well as 0.77 metre of 5.3 grams in wallrock, at Suerte.

Most of the work to date has focused on mapping and sampling in 15 workings within the Bulo zone. Workings in this area are found along a prominent ridge more than 300 metres long, but TVI suspects the veins may continue for another 200 metres. Local relief is about 65 metres, but the sampled workings cover elevations ranging from 50 to 140 metres above sea level.

Planned trenching and hillside sidecuts will expose the veins along strike.

Similar work is in progress in the Gitara and Suerte zones. Two other vein systems, Esperanza and Uranus, will be mapped and sampled once old workings are rehabilitated. An initial 2,500-metre diamond drilling program is will attempt to test the potential for both bulk-minable, open-pit gold deposits and smaller, high-grade underground vein targets in the main area.