Business
Batangas Gold Project and South Korea Update
Batangas Gold Project and South Korea Update.
About this update from Bluebird Mining Ventures Ltd.
[{"type":"text","content":"\n \n \n \n \n \n \n Bluebird Merchant Ventures Ltd\n \n ('Bluebird' or 'the Company')\n \n \n \n Batangas Gold Project and South Korea Update\n \n \n \n \n \n \n ·\n Discussions open to advance Batangas Gold Project in Philippines\n \n \n ·\n Lobo area remains highly prospective and there is significant potential for underground mining operations\n \n \n ·\n 1,160 hectare licence area has multiple epithermal and high grade targets already identified for resource expansion\n \n \n ·\n Team on site in South Korea to finalise the plan to fulfil the qualifying spend of US$160K in accordance with the 20-year mining licence terms for the historic Kochang Gold and Silver and Gubong Gold Mines\n \n \n ·\n Board estimates Korean projects have a cumulative estimated target recoverable resources of c.1.5m oz Au\n \n \n \n \n \n Bluebird Merchant Ventures Ltd, a South Korea-focused gold company, is pleased to announce that it has opened discussions with potential partners to develop its high-grade Batangas Gold project in the Philippines ('Batangas'). This follows positive feedback following the submission to the\n Department of Environment and Natural Resources\n for a two-year extension to the exploration period to its current licence.\n \n \n \n \n \n The Company has a 25-year Mineral Production Sharing Agreement ('MPSA') for the Lobo area of Batangas, where the current period of exploration needs to be extended. This involved the submission of an Exploration Work Programme and Environmental Work Programme to focus on the potential for underground mining at Lobo. With this granted, the Company will have a clear path to a production decision.\n \n \n \n \n \n The Company believes that Lobo remains highly prospective and there is significant potential for underground mining operations. The mineral resources are associated with a linear, steeply dipping, epithermal lode with high grade 'shoots' of mineralisation. The previous partner published an initial Probable JORC Compliant Ore Reserves of 171,000 tons at 6.6 g/t for 36,000 ounces of gold excluding silver credits based primarily on the South West Breccia ('SWB') area of the licences, which can be mined in the first 18 months of any operation. However, the 1,160 hectare licence area has multiple epithermal and high grade ...