TSX-V : TVI

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Feb 26, 2024 03:40 PM Pricing delayed 20 minutes

OTCQX : TVIPF

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Feb 26, 2024 11:26 AM Pricing delayed 20 minutes
Corporate
Presentation
Corporate Presentation Find out more about TVI through our latest Corporate Presentation GO TO CORPORATE PRESENTATION
The Balabag
Gold-Silver
Project
The Balabag Gold-Silver Project Find out more about the Balabag Gold-Silver Project WATCH VIDEO
The Canatuan
Experience
The Canatuan Experience Click here to review TVI's history of success at the Canatuan project GO TO THE CANATUAN EXPERIENCE

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Corporate Highlights

  • Together with award-winning safety, environmental and social performance, Management has the proven ability to develop and operate mines in the Philippines, one of the most prolifically mineralized countries in the world, globally ranking fifth in gold, nickel, copper and chromite.

  • To date, TVI Resource Development (Phils.) Inc. (“TVIRD”), a Philippines corporation previously held 100% by TVI Pacific through to December 2013 in which TVI Pacific continues to own 30.66%, has commissioned FOUR (4) mines in the Philippines including:

    • Between 2004 and 2014 when TVI Pacific owned 100% of TVIRD:

      • The Canatuan gold-silver mine, which produced over 105,000 ounces of gold and 1.8 million ounces of silver from 2004 to 2008 for gross revenues of US$86 million; and,

      •  The Canatuan copper-zinc mine, which produced 199,778 dry metric tonnes of copper concentrate and 30,548 dry metric tonnes of zinc concentrate from 2009 to 2014 for gross revenues of US$393 million.

  • Following divestment of control in TVIRD in December 2013 resulting in TVI Pacific holding a continuing interest of 30.66% in TVIRD and joint control:

    • The Agata direct shipping nickel/iron mine (Agata Mining Ventures Inc. (“AMVI”), which commenced production in October 2014 and has shipped a total of 20.78 million wet metric tonnes through 382 shipments as at January 31, 2024. AMVI is a joint venture company between TVI Resource Development (Phils.) Inc. (“TVIRD”) (60%), Mindoro Resources Ltd. (“Mindoro”) (15%) and Minimax Mineral Exploration Corporation (25%), in which TVIRD is operator.

    • TVIRD’s 100%-owned Balabag gold/silver project, which completed its first shipment of gold doré on September 20, 2021, and through to December 31, 2023, eighty (80) shipments had been completed in the amount of 52,945 kg doré containing 73,973 ounces of gold (“Au”) and 1,574,895 ounces of silver (“Ag”) for 93,081 gold equivalent ounces (“AuEq oz”). A further three (3) shipments have been completed since December 31, 2023 and through to January 31, 2024, bringing the total number of shipments since completion of the first shipment on September 30, 2021 to 83 shipments in the amount of 96,539 AuEq oz.

  • On November 4, 2021, TVIRD completed its acquisition of 100% of the outstanding equity in Greenstone Resources Corporation (“GRC”), the owner and operator of the Siana Gold Mine (“Siana”) and the Mapawa Project (“Mapawa”), both of which are located in the southern Philippine island of Mindanao. Prior to the acquisition by TVIRD, GRC was the Philippines affiliate of Red 5 Limited (“Red 5”) (ASX: RED), a Perth, Western Australian-based gold company, the shares of which are listed on the Australian Securities Exchange. Red 5 has previously reported in their 2021 Annual Report a combined historical Indicated JORC 2012 mineral resource estimate for the Siana open pit and underground mine of 4.3Mt @ 4.6 g/t Au and 6.8 g/t Ag and combined Inferred JORC 2012 mineral resource estimate for the Siana open pit and underground mine of 0.5Mt @ 8.9 g/t Au and 10.6 g/t Ag. TVI is not treating this as a current mineral resource under National Instrument 43-101 – Standards of Disclosure for Mineral Projects as a qualified person has not done sufficient work to classify the historical estimate as current. TVIRD has progressed with rehabilitation of the 1.1mtpa Outotec mill, and all other plant equipment that was acquired together with Siana, to the stage that soft-commissioning commenced on December 9, 2022 and is continuing. Through to December 31, 2023, a total of 365,249 tonnes of low-grade stockpile mineralized material with an average grade of 0.68 g/t Au and 4.37 g/t Ag has been milled, averaging through the same period a plant utilization of 64% and an average throughput of 1,900 MTPD to manage the drawdown of the low-grade stockpile until the full development of the open pit is achieved. A total of 699 kg of doré containing 6,401 oz of Au and 15,377 oz of Ag have been smelted and a total of 674 kg of doré containing 6,283 oz of Au and 14,968 oz of Ag have been shipped as at December 31, 2023. The construction of Tailings Storage Facility 6 (“TSF-6”) is now complete with surfacing and maintenance of the embankment ongoing.

  • On January 31, 2022, TVIRD obtained control of SageCapital Partners, Inc. (“SageCapital”) through the acquisition of all of its outstanding capital stock. SageCapital is a holding company incorporated under the laws of the Philippines which, in turn, owns 60% of the outstanding capital stock of Mt. Labo Exploration and Development Corporation (“MLEDC”), a Philippines mining and minerals exploration development company whose projects are based in Camarines Norte, Philippines, and which is the owner and operator of the Mabilo Project (“Mabilo”). With a near-surface deposit, Mabilo has potential for direct shipping ore (“DSO”) operations and it is contemplated that mining will use an open-pit mining method. The Mabilo mineralized deposit is classified as a copper-gold-iron skarn deposit that offers potential for multi-metal products, namely copper, gold and silver, with by-products magnetite (Fe3O4) and pyrite (FeS2). A NI 43-101 Technical Report prepared by Lycopodium Minerals Pty Ltd. and filed on May 2, 2016, under the SEDAR profile of RTG Mining Inc. (“RTG”), which holds a 40% interest in MLEDC through SRM Gold, reflects a historical Probable Mineral Reserves estimate of 7.8Mt at 2.0% Cu, 2.0g/t Au, 8.8g/t Ag and 45.5% Fe for Mabilo. TVIRD is currently proceeding with various organizational, community-related, permitting and site clean-up matters while considering next steps at Mabilo.

  • On June 1, 2021, AMVI received the Environmental Compliance Certificate for the Agata Limestone project that is valid through to May 31, 2026. Endorsements from the required local governments have been received for the project and the balance of the permitting process is continuing.

  • Environmental and safety awards received by TVIRD through its exceptional performance thus far at Canatuan and Agata include:

TVI Pacific does not operate or control any of the mines or projects of TVIRD.

TVI Pacific’s management team remains focused on repeating its operational success in new jurisdictions in the Asia Pacific Region and is searching for resource opportunities that can be rapidly developed and put into production.