TVI Resource Development (Philippines) Inc., a unit of TVI Pacific Inc. of Canada, is looking at the Balabag gold prospect in Zamboanga del Sur as its next priority mining project.
TVI Resource said the Balabag mining property had the potential to become the company’s second production center based on initial exploration results.
TVI Resource has begun to evaluate options to bring the Balabag project into production, with advance development work scheduled to commence later this year.
A company official who declined to be named said initial work on the mine could follow with a minimum initial capital.
The company has begun construction of an additional flotation circuit to process zinc ore at its Canatuan mine in Siocon, Zamboanga del Norte province.
“As we mine through the copper rich portion of the ore body and start getting into the copper-zinc zone as expected, the ability to separate and monetize the zinc will result in additional revenue,” said chief executive Cliff James earlier.
“This will allow us to further accelerate two key target areas of our growth strategy, which include exploration and development activities at Canatuan and Balabag, and exploration projects at Tamarok,” he added.
Construction of the zinc circuit began on Oct. 28, or three months ahead of schedule. It is expected to be fully operational by late April next year.
Source: Manila Standard
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