Business
Receives Approval to Advance Batangas Gold Project
Receives Approval to Advance Batangas Gold Project.
About this update from Bluebird Mining Ventures Ltd.
[{"type":"text","content":"\n\nBluebird Merchant Ventures Ltd / EPIC: BMV.L / Market: FTSE / Sector: Mining\n15 June 2023\nBluebird Merchant Ventures Ltd ('Bluebird' or 'the Company')\nReceives Local Community Approval to Advance Batangas Gold Project\n \nBluebird Merchant Ventures Ltd, a gold company primarily focused on bringing historic mines back into production, is pleased to announce that it has received the Certificate of Approval from the Mines and Geosciences Bureau (MGB) for its Two-Year Community Development Plan at its Batangas Gold Project ('Batangas' or 'the Project') in the Philippines. This represents a significant step forward and underlines the importance of the Company's local development partner in navigating the regulatory environment to allow the key project area at Batangas, the Lobo underground mine, to be advanced to a production decision. Importantly the Company already has two 25 year Mineral Production Sharing Agreements (\"MPSA\") covering the Lobo Project area.\n \nOverview\n· Community Plan Approval allows for groundwork including supplementary drilling to commence at the highly prospective Lobo project area.\n· Demonstrates that the JV is proving successful, and the Project development plan adheres to the relevant protocols required by the new Philippine Government for mining development.\n· Lobo has a JORC Compliant Ore Reserves of 171,000 tons at 6.6 g/t for 36,000 oz Au, an 82,000 oz Au inferred resource plus multiple epithermal and high-grade targets identified over 14km of identified mineralised structures.\n· Grades include high-grade surface trench intersections of 8.35m @ 18.4 g/t Au, 2.6m @ 28.6 g/t Au and 3m @ 22.2 g/t Au.\n· The JV will now implement plans to commence a new drilling campaign to increase the resource and develop potential underground mine plan and work with its environmental consultancy for the application of the Environmental Compliance Certificate.\n· JV structure provides Bluebird with a free carry to production decision in return for 60% of the project equity.\n \nBluebird CEO Colin Patterson said, \"The approval of the Community Plan is a significant step forward in the development plans for an underground gold mine at Lobo in the Philippines. The JV partner recogni...