TVI Resource ends copper exploration in Zamboanga

TVI Resource Development (Phils) Inc. has terminated its Siennalynn exploration program after tests showed that the copper-zinc-gold zones did not have enough resources to warrant drilling in the area. In a statement released May 10 by Canada-based TVI Pacific Inc., the parent of TVI Resource, cited that the exploration program did not identify any close-to-surface copper ore bodies, prompting the company to terminate the venture agreement with Siennalynn Gold Mining Corp. and YZ Summit Mining Corp. In October 2010, TVI Resource said it acquired the rights to explore and possibly buy the Siennalynn property in Mindanao’s Zamboanga Peninsula. The agreements given to Siennalynn Gold covered a mining area of some 2,000 hectares. The company also operates the Canatuan copper mine in Zamboanga del Norte, which reported a steady production flow with ore grade levels at 20 percent. — BC/VS, GMA News