Manila’s Philex says sees gains in $1 bln copper-gold prospect
June 24th, 2011
Filed under: Operator - Philex
MANILA, June 22 (Reuters) - Top Philippine miner Philex Mining Corp estimates its $1 billion Boyongan-Bayugo copper-gold prospect in southern Surigao province contained 5 billion pounds of copper and 9 million ounces of gold, adding that a recent acquisition may enhance the value of the project.
Philex said in a statement on Wednesday the findings were contained in a recently completed independent mineral resource estimate by SRK Perth, Australia for the Silangan project managed by its wholly owned unit Silangan Mindanao Mining Co Inc.
The study was based on results from more than 80,000 metres (263,000 ft) of drilling by Philex by June 2010.
Leave a Reply
Please note that your comments will be subject to moderation by the PMEA Blog Administrator.