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TVI's Philippine Affiliate JV Confirms Presence of High-Purity Limestone Deposit at the Agata Limestone Project
TSX : TVI OTCQB : TVIPF CALGARY , June 4, 2015 /CNW/ - TVI Paci...
About this update from Tvi Pacific Inc.
[{"type":"text","content":"\n\n\n\n\nTSX: TVI OTCQB: TVIPF\n\n\n\n\n\nCALGARY, June 4, 2015 /CNW/ - TVI Pacific Inc. (TSX:TVI) (OTCQB: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 completed an initial 17-hole drill program at the Agata limestone project located in northern Mindanao, the Philippines.  Drill results have now confirmed the presence of a high-purity recrystallized limestone deposit covering an area of 600 metres by 650 metres.  These results will form the basis for an initial NI43-101 compliant report expected for completion in the third quarter of 2015.  \n\n\"We are very pleased with these preliminary results as the presence of high-purity metamorphosed limestone at the Agata project could represent another potential source of future cash flow,\" stated Clifford James, Chairman and CEO of TVI and Chairman of TVIRD. \"In addition, the project would benefit from having the same infrastructure established for the nickel laterite direct shipping ore operations and may be supportive of TVIRD's valuation as it seeks a listing on the Philippine Stock Exchange later this year.\" \n\nExploration Program Summary\n\n\nThe Agata limestone project is situated to the south of AMVI's current Agata nickel laterite DSO operation and in close proximity to the causeway facilities that were built to support 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\nAMVI commenced exploration activities focusing on the Payong Payong deposit in early November 2014 (see news on November 27, 2014).  The exploration program included a detailed review and verification of previous work carried out in 2011 by Mindoro Resources Ltd. (\"Mindoro\"), TVIRD's joint venture partner in AMVI, as well as more detailed surface mapping and sampling of the area.  \n\nA total of 17 drill holes were completed at 100-metre to 200-metre spacing and core samples exhibited white to grey metamorphosed limestone.  Th...