Business
Baguio EP Application Data
Baguio EP Application Data.
About this update from Metals Exploration Plc
[{"type":"text","content":"\n Metals Exploration PLC\n20 June 2006\n\n\nMETALS EXPLORATION PLC\n\nREVIEW OF HISTORICAL DATA INDICATES THAT THE PORPHYRY-STYLE COPPER\nMINERALISATION LOCATED WITHIN THE COMPANY'S EXPLORATION PERMIT APPLICATION IN\nNORTHERN LUZON, PHILIPPINES, MAY BE OPEN-PITTABLE\n\n20 June 2006\n\n\n\nFurther to the Company's announcement of 07 March 2006, the Board of Metals\nExploration PLC ('the Company') is pleased to announce that certain historical\ndata has now been obtained and collated in respect of an area located in the\ndistrict of Northern Luzon, Philippines covered by an Exploration Permit\nApplication ('the EP Application'). The Company is currently processing the EP\nApplication with the Baguio regional office of the Mines & Geosciences Bureau\n('MGB') and, whilst the Company expects that an Exploration Permit will be\ngranted to it in due course, there can be no guarantee that this will in fact\nhappen.\n\nThe EP Application is located in the Baguio district of Northern Luzon,\nPhilippines, and is situated to the north of the Santo Nino property, previously\na copper-gold producer. The EP Application area covers approximately 5,845\nhectares and is located about 10 kilometres to the northeast of Baguio City. The\nproperty is underlain by quartz diorite and andesite rock types and was\npreviously the object of exploration for copper+gold porphyry-style\nmineralisation during the 1970s. Porphyry style copper mineralisation was first\nrecognized in the area in 1967 during a first pass reconnaissance programme by\nthe MGB as an integral part of a nationwide metallogenic study.\n\nIn 1974, the MGB carried out a trial IP survey over the area comprising porphyry\nstyle mineralisation. Subsequently, Worldwide Mineral and Industrial Corporation\n('Worldwide'), a Philippine corporation, in conjunction with the MGB, carried\nout a programme of soil geochemistry (645 samples) to follow up the interpreted\nIP anomalies. Results of the soil survey produced best results of 4,481ppm Cu\nwith 28 samples returning results greater than 1,000ppm Cu.\n\nBetween 1974 and 1981, Worldwide reputedly completed 44 diamond drill holes for\nan aggregate total of 12,989 metres over a surface area of 600m x 1,200m. The\ndata package obtained so far relates to 34 of these holes, drilled on a grid\nspacing of between 100 to 200 metres, for an aggregate...