Wednesday, 25th April 2007 (2146 views)

Sur American Gold Corporation has announced its discovery of a new copper and gold project in the East Mindanao province of the Philippines.

The Cadan copper-gold porphyry target is located in the Compostela Valley province and this find is a regionally significant one, according to the company.

Brett Taylor, the president and chief executive officer of the company, said: "It is the first new discovery of its type in this region for some 25 years."

Using detailed surveying, closely spaced geophysics, mapping and sampling, this new picture of Cadan has been produced which takes in the true spectrum of a 6 square kilometre semi-mountainous area.

The firm believes it will be a multi-tonnage project and that it "further demonstrates the mineral potential and development opportunities in this part of East Mindanao".

Within the same region there have been several successful gold mining projects.

These include the King King Copper Gold Project with a resource estimated at 568 million tonnes with grades of 0.29 grams of gold per tonne and an indicated resource of 836 million tonnes at 0.22 grams of gold per tonne.

 

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