Developing - Balabag Gold & Silver Project
- Epithermal gold and silver deposit
- Proposed open pit and underground mine
- Mineral resource estimate and scoping study previously completed
- Mineralized zones open laterally and at depth
- Internal feasibility study underway to evaluate low capital, staged development
The pre-development-stage Balabag epithermal gold and silver project is one of our high priority projects. The Balabag property covers an area of approximately 52 square kilometres (20 square miles) and is situated approximately 75 kilometres (47 miles) east-northeast of our Canatuan mine.
In 2008, we filed a NI 43-101 compliant scoping study titled Scoping Study of the Balabag Project. This study was based on a previous resource report filed in 2007 titled NI 43-101 Technical Report for the Mineral Resources at the Balabag Project of TVI Pacific Inc. Both studies are available below.
During the first quarter of 2013, TVI completed 12 of the 17 additional infill or extension drill holes for 885 meters (2,832 feet). Drilling at Balabag resumed at the start of 2013 right after the removal of all illegal occupants in the project site. The removal of the illegal miners was through an implementation of MGB’s Cease and Desist Order by a team of government agencies.
To date, including pre-2010 and post-2010 drill programs, a total of 295 holes have been drilled for a total of 33,817 meters (108,214 feet) at Balabag.
Other activities at Balabag include:
- ground preparation;
- environmental impact assessment;
- securing of resolutions of support from the host communities; and
- in-house plant design has been submitted for peer review to an external consultant
A new updated National Instrument 43-101 technical report was filed in August 2012. Based on drilling completed to the end of June 2011, the independent qualified person estimates an indicated mineral resource of 1.78 million tonnes averaging 2.34 grams per [tonne] of gold and 72.3 grams per [tonne] of silver containing 134,262 ounces of gold and 4,148,196 ounces of silver.