The Abra project area covers 16,200 hectares on the island of Luzon, c. 200km north of Runruno, in the Cordillera region, a prolific gold belt in the Philippines, with proven mineral endowment in the area, having produced 40 Moz of gold historically.
In Q4 2024, the Company received approval from the Philippine mines department to commence exploration drilling activities. Notwithstanding this the Company has put its drill programmes on hold while the National Commission for Indigenous Peoples (‘NCIP’) further advances and finalises its consultation activities with the potentially impacted local and indigenous communities. Once the NCIP processes are complete the Company should be able to commence drilling.
The Company’s expectation remains that drilling in the Abra project area will commence at some point in FY2026.
