Sulong

The Sulong EPA covers some 6,963 hectares in area and is situated to the east of Solano, Nueva Vizcaya Province, approximately 220km north of Manila.

The area has previously been mined for manganese (ca 1970s) which, is interpreted as being the oxidised portion of an extensive vein-fault system, although there is little evidence of shipment of manganese ore.

During the early 1990s Climax conducted a regional geochemistry survey of the district, including the Sulong area. During the late 1990s, Placer Pacific Exploration Phils., Inc. (a subsidiary of Placer Dome), carried out stream sediment geochemistry and rock sampling of the Sulong area. Sampling of outcrop within the EPA area returned assay grades up to 0.64g/t gold.

The Company believes that the area comprises a large gold-bearing vein-fault system and potential for porphyry copper mineralisation. Once the EPA has been granted, the Company intends to carry out detailed geological mapping, soil geochemistry and geophysical surveys to determine favourable areas for drill testing.