PMEA Blog

Coronado Resources Ltd. (TSX VENTURE: CRD) is progressing on the due diligence to acquire several gold mining concessions located in the prolific Masbate gold region of the Philippines. At this time Coronado has three separate concessions totaling 60 hectares, Panique, Rudy and Capsay. The Panique concession is located just 600m east of one of the open pits at CGA Mining’s “Masbate Gold Project”, Rudy concession is located just 1.2km north east and Capsay is located 3.5Km directly to the south. All three concessions lying within a 3.5km wide mineralized gold zone which includes CGA Mining’s “Masbate Gold Project” will be referred to as the “Panique Gold Project”. The company is also pursuing an additional mining concession totaling 300 hectares in the same region.

The company has taken several samples from the epithermal quartz/calcite veins from old mine adits on two of the concessions that contain visible gold. While visiting the properties the president was presented with a two gram bead of 76% pure gold produced by the owners of the concessions.

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