Business
JV with Filipino Mining Group to develop Batangas
JV with Filipino Mining Group to develop Batangas.
About this update from Bluebird Mining Ventures Ltd.
[{"type":"text","content":"\n \n \n Bluebird Merchant Ventures Ltd / EPIC: BMV.L / Market: FTSE / Sector: Mining\n \n \n 07 February 2023\n \n \n \n Bluebird Merchant Ventures Ltd ('Bluebird' or 'the Company')\n \n \n \n \n JV with Filipino Mining Group to develop Batangas Gold Project\n \n \n \n \n \n \n Bluebird Merchant Ventures Ltd, a gold company primarily focused on bringing historic mines back into production, is delighted to announce that it has signed an agreement with a Philippine company, whose owners have decades of experience in mining, to develop the high grade Batangas Gold Project ('Batangas' or 'the Project') in the Philippines ('the Agreement'). \n \n \n \n \n \n \n \n \n OVERVIEW\n \n \n \n ·\n Joint Venture secured to fast-track Batangas to production decision.\n \n \n ·\n Work focused on completing Exploration and Environmental Work Programmes targeting the high-grade Lobo area of the Batangas and includes:\n \n \n o \n Additional drilling to increase the resource; and \n \n \n o \n Reworking the plan for underground mining potential.\n \n \n ·\n Excellent exploration potential across the licence with high-grade targets already identified for resource expansion with 14km of identified mineralised structures.\n \n \n ·\n Philippine partner has decades of experience in mining.\n \n \n ·\n Staged agreement based on the JV partner achieving defined development goals.\n \n \n \n \n \n \n Bluebird Merchant Ventures CEO Colin Patterson said,\n \n \n \"This JV provides Bluebird with a free carry on the development of the high grade Batangas Gold Project in the Philippines. With decades of mining experience in-country, our local partner, has recognised the potential of the Project, particularly Lobo, and will carry out the necessary work with a view to advance the Project to construction. \n \n \n \n \n \n \n \n \n \n \"The JV covers the entire Batangas Project area, which has a total JORC compliant resource of 440,000 ounces, including a maiden ore reserve of 128,000 ounces (including silver credits). Exploration expenditure to the tune of c.$20m has been invested and with a more favourable sentiment to mining and a specialist local partner to carry it forward, the potential value is clear to see. \n \n \n \n \n \n \n \n \n \n \"Beyond the Philippines, we await news from the G...