Business
TVI's Philippine Affiliate JV Commences Drilling on High Purity Limestone Deposit at the Agata Project
TSX : TVI     OTCQX : TVIPF CALGARY , Nov. 27, 2014 /CNW/ -&...
About this update from Tvi Pacific Inc.
[{"type":"text","content":"\n\nTSX: TVI     OTCQX: TVIPF \n\n\n\nCALGARY, Nov. 27, 2014 /CNW/ - TVI Pacific Inc. (TSX:TVI) (OTCQX:TVIPF) (\"TVI\" or \"the Company\") and TVI's Philippine affiliate, TVI Resource Development (Phils.), Inc. (\"TVIRD\"), are pleased to announce that Agata Mining Ventures Inc. (\"AMVI\"), a joint venture company in which TVIRD holds a 60% interest and is the operator, has commenced an exploration program aimed at defining a National Instrument 43-101-compliant resource estimate at the Agata limestone project located in northern Mindanao, the Philippines.  Once an initial resource has been developed and product markets are identified and confirmed, AMVI will evaluate the feasibility of commencing a limestone direct shipping ore (\"DSO\") operation using the same infrastructure developed for current nickel laterite DSO operations.  A map and presentation on the Agata limestone project are available as PDF links to this news release on www.tvipacific.com.\n\n\"We are very pleased to see exploration work commencing at the Agata limestone project as it potentially represents another source of long-term cash flow for TVIRD, using essentially the same infrastructure created for the laterite direct shipping ore operations,\" stated Clifford James, Chairman and CEO of TVI and Chairman of TVIRD.  \"Given that TVI continues to hold a 30.66% interest in TVIRD, we are excited to see TVIRD advancing its projects on so many fronts to grow investment value, which will become evident when TVIRD successfully lists on the Philippine Stock Exchange, which is planned for 2015.\"\n\nThe Agata limestone project is situated to the south of TVIRD's current Agata nickel laterite direct shipping ore (\"DSO\") operation and immediately adjacent to the causeway facilities that were built to support the DSO operations.  The project consists of a number of separate deposits, of which only one – the Payong Payong deposit covering approximately 27.7 hectares – has been drilled to date. Other deposits occur nearby and will be explored in stages in the future.\n\nCurrent information on the Agata limestone project is based on limited exploration carried out on the Payong Payong limestone deposit in 2011 by Mindoro Resources Ltd. (\"Mindoro\"), TVIRD's joint venture partner in AMVI.  Results from Min...