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PIA Press Release
2007/10/19

Two big mineral reserves found in Mindanao

by Prix D Banzon

Davao City (19 October) -- Three major mineral reserves were discovered in Mindanao while explorations are being made in the different parts of the country.

Engr. Edilberto Arreza, OIC-regional director of the Mines and Geosciences Bureau (MGB XI) in a press conference at the Philippine Information Agency on Thursday said that two of these reserves are found in Mindanao and the other in Luzon.

He named one in Buyugan in Tubod, Surigao del Norte where the exploration was done by the Anglo American Mining Company that recorded some 300 million tons of deposit with.6 percent copper and one gram per ton for gold.

He said the company was able to block the 300 MMT and is still exploring the area for extension sites.

The site for phosphoric copper is in Tampakan, South Cotabato with the Saggitarius Mines Inc., and recorded some 700 million tons of mineral deposits with.81 percent copper and.32 per ton of gold.

The other exploration was done by Far Southeast of Lepanto Minining Company in Baguio. It recorded phosphoric copper gold deposits with.81 percent copper and 1.76 grams per ton of gold.

When asked about Mt, Diwalwal, Arreaz however said that the Diwalwal area has not been properly drilled and explored.

"If there will be full exploration and drilling in the area then we can conclude about the deposits in Mt. Diwata and perhaps with a recorded data then it could be the fourth major reserve of the country," he said. (PIA XI) [top]

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