TVI Pacific's TVIRD gets ECC for Balabag gold-silver mine

TVI Resource Development (Phils.) Inc. (TVIRD), an affiliate of Canada's TVI Pacific Inc., received from the DENR an Environmental Compliance Certificate (ECC) for its gold and silver mine in Balabag, Zamboanga del Sur, the company's parent said Monday.

 

"This marks a critical milestone towards starting development of the Balabag Gold-Silver Project, which will commence once approval is received of the Declaration of Mining Project Feasibility by the Philippines Mines and Geosciences Bureau  of the Department of the Environment and Natural Resources (DENR)," TVI Pacific noted in a statement Monday. 

 

TVI Resource holds a mineral production sharing agreement to a 4,779-hectare mine site in Balabag. 

 

According to  TVI Pacific, the latest estimates place the mineral resource in the tenement at 1.78 million tons averaging 2.34 grams of gold and 72.3 grams of silver per ton, or 134,262 ounces of gold and 4,148,196 ounces of silver. 

 

The numbers are likely to change once results of a geological survey, soil grid sampling, and underground sampling from an area previously occupied by illegal miners are out, according to TVI Pacific.

 

"This is expected to improve the accuracy of the resource model," the company said. – VS, GMA News