High-grade mineralisation identified in the Philippines

30 September 2007 | 05:03 Code : 15453 Geoscience events
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Recent rock chip and channel sampling activities have delineated two extensive.....

  Recent rock chip and channel sampling activities have delineated two extensive zones of alteration containing significant gold, silver and base metal mineralisation at Licop Creek and the adjacent Tagsoau creek systems at Sierra Mining’s Taguibo Project on Mindanao Island in the Philippines.Sierra reported high-grade mineralisation in places, ranging up to 17.15 percent copper, 8.26g/t gold, 111.70g/t silver and 16.70 percent zinc. The mineralisation is related to inferred dilational structures between two major splays of the regional Philippine Fault system and is adjacent to and within an andesitic flow dome, which was also emplaced within the dilational structures. Sierra’s exploration activities have been focused on the Licop Creek drainage where sampling has defined an approximate 1500m by 500m northeast trending zone defined by rock chip samples containing greater than 0.10 percent copper. Within this zone, mapping has outlined a northeast trending zone of intense alteration and mineralisation over 650m long and up to 50m wide. Significant rock chip samples from within this zone include 10m at 2.58% Cu, 0.94g/t Au, 7.68g/t Ag, 8m at 1.04% Cu, 0.14g/t Au, 2.09g/t Ag, 4m at 1.94% Cu, 2.24g/t Au, 79.50g/t Ag, 3.56% Zn, 1.01% Pb, and 4m at 0.03% Cu, 5.09g/t Au, 17.60g/t Ag. At Tagsoau Creek three samples from a one-metre wide polymetallic quartz vein within the second alteration zone returned average grades of 6.7g/t Au, 25.8g/t Ag, 15.6% Zn, 0.82% Cu and 1.20% Pb. Sierra’s Technical Director, Max Sara said the company’s initial exploration work at Taguibo had been encouraging and indicates the area is significantly mineralised. “Sierra’s systematic rock chip sampling program has been successful in identifying a number of highly mineralised structures, and work is continuing in order that continuity can be established,” Mr Sara said. “The area has the potential to host a large porphyry copper/gold mineralised system,” he said. “At this time I believe some interesting drilling targets are emerging, and we intend to test these with a drilling campaign to be scheduled at the earliest opportunity.”

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