Projects Overview
Runruno is located about 200km north of Manila, where exploration to date has defined a JORC-compliant Inferred & Indicated mineral resource of 2.1Moz gold and 36.6Mlb molybdenum, contained within 27 million tonnes at average grades of 2.41 grams/tonne gold and 0.062% molybdenum. The deposit is located within a large alkaline volcanic complex, approximately 3.5 kilometres in diameter, of which less than 10% has been effectively explored. For a full resource estimate please see the Runruno Resources page
Two Exploration Permits were granted to the Company by the Philippine Department of Environment & Natural Resources in June 2008:
Dupax - 200km north of Manila, a small parcel of high-grade,
direct shipping massive sulphide zinc-copper ore was partially mined
out by open pit methods (ca 1960/70s). Previous production records are
currently unknown.
Sulong – 200km 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 with potential for gold mineralisation.
Other Projects in the Company’s portfolio are covered by Exploration Permit applications:
Puray – 30km north-east of Manila City – a base-metal VMS copper, zinc, silver and gold deposit. High-grade copper ore was mined from underground and shipped to Japan during the 1970's.
Worldwide – Between 1974 and 1982, 44 diamond drill holes were completed by a Philippine coporation (~13,000 metres) and a non-JORC compliant resource estimate reported for approximately 150Mt at an average grade of 0.3% copper and 0.2 g/t gold.
Capaz – 100km north of Manila, In 1990, BHPE carried out a diamond core drilling program and encountered anomalous gold grades. DDH-4 intersected gold mineralisation averaging >1g/t gold over 20 metres starting from 4 metres below surface. The Company believes that the property has the potential for the delineation of a shallow gold resource, which may be amenable to heap-leaching.
Waigeo Island - Historical drilling in the 1970's identified nickel laterite deposits of some 35Mt at grades of 1.5% Ni, 0.13% Co and 37% Fe within the area. The Company believes there is potential to develop a sustainable short and medium term nickel operation in Waigeo.
More detailed descriptions of each project can be viewed through the links above.