Sustainability & Environment
Company has chosen to extend its asset base by pursuing advanced exploration opportunities to complement cash flows from royalty rights.
The Filipino tenement package, in our opinion represents one of the most attractive porphyry copper targets globally available, with our particular interests being associated high grade epithermal gold systems. These areas have been accumulated over a substantial period of time and represent advanced exploration plays.
The summary set out below is the principal project.
Significant mineralisation identified within this project area by Royalco in the 2008/2009 exploration season. Porphyry copper-style mineralisation has been encountered in all holes drilled to date. Infill grid soil sampling has been completed throughout Phase 1. Drilling in the Phase 2 region has been less encouraging whilst the Phase 3 region contains the principal project area- the Cableway Prospect.
The Gambang tenement area is strategically situated within the Central Cordillera of Northern Luzon in the geological terrane known as the Philippine Mobile Belt. The mineral endowment of the belt is high due to its tectonic setting, offering world class prospectivity.
Deposits immediately north of this tenement include Far Southeast, Lepanto, Victoria, Guinaoang and Suyoc. To the south of the tenement lies the old goldfields of Baguio and the porphyries at St Tomas/Santo Ni-o, a belt stretching approximately 50 kilometres, with Gambang covering the strategic and under-explored central portion.
The Cableway Prospect is centred on the largest of a cluster of gold and copper anomalies that were defined by a soil geochemical survey. The surface alteration comprises minerals that are commonly observed at high-levels in porphyry copper-gold systems. Drillhole GBD-9, drilled at Cableway, yielded 0.27g/t Au and 0.22% Cu over a 60m interval down hole from surface, followed by another 20m interval grading 0.42g/t Au and 0.49% Cu. This drillhole shows evidence of grade increasing systematically at depth and offers significant potential to the west towards elevated geochemical sampling.