North Zamboanga Exploration Tenements

At A Glance
Ownership TVI Resource Development Philippines Inc. – 100%
Location Tenements covering 1,240 square kilometers in the Zamboanga Peninsula
Business activities Gold and copper exploration
Logistics Within trucking distance of port facilities within the Zamboanga Peninsula

 

The North Zamboanga tenements consist of 11 permit applications covering 1,240 square kilometres (771 square miles) of the Zamboanga Peninsula. The properties are 100% owned by TVIRD.

The current permit applications cover a number of mineral targets identified by a prior exploration program conducted by a major international company, numbering over 20 epithermal gold, massive sulphide and porphyry copper-gold prospects. Reconnaissance work carried out to date has supported historical findings and has resulted in the discovery of additional prospects of interest. Indications of mineralization often occur on the surface and have been easily accessible to our exploration teams.

Among the more prominent prospects in the North Zamboanga tenement package is the Bonbon area, which is covered by an 81 square kilometre (50 square mile) Exploration Permit Application. Bonbon is made up of a series of north-northwest trending quartz veinlets/stockworks in highly altered volcanics and intrusives, spread over a 10 kilometre (6 mile) long by 2 kilometre (1 mile) wide area. Geologic mapping and sampling as well as geophysical surveys are in the planning stages in order to locate prospective drill targets.

The approval of required permits will enable TVIRD to fully explore its North Zamboanga Tenements. MPSA processing and approval are on hold due to the ongoing moratorium on new permit applications imposed by the Secretary of the Department of the Environment and Natural Resources (DENR). In March 2013, the DENR lifted the moratorium on application for exploration permits, but retained the moratorium on MPSAs and financial or technical assistance agreements in spite of the signing of the much-awaited Executive Order by the President of the Philippines. To date, the timing as to the actual issuance of permits continues to be uncertain.