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TVI's 30.66% Owned TVIRD Receives Approval to Develop the Balabag Gold-Silver Project
TVI's 30.66% Owned TVIRD Receives Approval to Develop the Balabag Gold-Silver Project ...
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[{"type":"text","content":"\n\n\n\nTVI's 30.66% Owned TVIRD Receives Approval to Develop the Balabag Gold-Silver Project\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nTVI's 30.66% Owned TVIRD Receives Approval to Develop the Balabag Gold-Silver Project\nCanada NewsWire\nCALGARY, May 4, 2016\n\n\n\nCALGARY, May 4, 2016 /CNW/ - TVI Pacific Inc. (TSX: TVI) (OTC Pink: TVIPF) (\"TVI\" or \"the Company\") is pleased to announce that TVI Resource Development (Phils.), Inc. (\"TVIRD\"), a company in which TVI has a 30.66% equity interest, has received approval for its Declaration of Mining Project Feasibility (\"DMPF\") from the Philippines' Department of Environment and Natural Resources (\"DENR\") at its 100% owned Balabag gold-silver project located in Zamboanga del Sur province, the Philippines.  Approval of the DMPF was the last major permit required by TVIRD to initiate the development, construction and operation of the Balabag mine and will support TVIRD's valuation as it seeks to list on the Philippines Stock Exchange (\"PSE\") in the second half of 2016.  \n\n\"Balabag is the fourth mining project to be successfully permitted by TVIRD in the Philippines over the past 11 years and I am confident that TVIRD will secure the necessary funds to move the project forward prior its listing on the PSE later this year,\" stated Clifford James, Chairman and CEO of TVI and Chairman of TVIRD.  \"At TVI, we are very pleased with this development as a permitted Balabag project will greatly support TVIRD's efforts to list on the PSE and the listing could provide TVI with both a short and long-term source of funding for our resource acquisition and development activities.\"\n\nAbout the Balabag Project  \n\nTVIRD holds 100% of the Mineral Production Sharing Agreement (\"MPSA\") area covering 4,779 hectares containing the Balabag epithermal gold and silver project.  The project is located in the town of Bayog, Zamboanga del Sur province, the Philippines, and is situated approximately 75 kilometers (47 miles) east-northeast of TVIRD's Canatuan mine.  \n\nA total of 296 holes hav...