Records of historical exploration data at St Augustine Gold & Copper’s King-king project in the Philippines have confirmed wide intervals of porphyry gold-copper mineralization in two areas northeast of the deposit. The data also demonstrates significant copper and gold intersections in three exploration areas of King-king.
Airborne geophysical results covering the entire tenement area were also recovered and interpretive evaluations of this data are under way.
St Augustine says the most notable intercept is a hole about 4km north of the current pit area which intercepted 81 continuous metres averaging 0.44% total copper and 0.34 grams/tonne gold.
The company’s president Andrew Russell says, “We are pleased to have uncovered this historic information. This additional detail correlates well with the surface outcrops and mapping of copper mineralization identified by company geologists in the outlying areas on the King-king tenement. These historic exploration reports provide good justification for an extended exploration program outside the existing drilled deposit area to the north east.”
King-king is in southeast Mindanao Island, 35km east of Davao City and 13km from the coast.
These additional drill holes in the Binutaan, Diat and Panganson prospects are believed to be spatially and inherently related to a copper porphyry system. The exploration program results were received by St Augustine following the full and final settlement with Benguet in August last year.
Highlights from the Diat area include an 81 metre intersection @ 0.44% total copper and 0.34 grams/tonne gold and a 153 metre intersection @ 0.05% total copper and 0.25 grams/tonne gold. In the Panganason target area, angle coring intersected 15 metres averaging 2.25 grams/tonne gold and 46 metres averaging 0.07 grams/tonne gold.
The airborne geophysical survey results are from a program commissioned by Kingking Mines in 1997. Fritz Geophysics has been commissioned to provide interpretation of the results for the entire King-king tenement area along 100 metre helicopter flight lines. Andrew Russell says the interpretations will be used to guide future ground geophysical and geologic exploration evaluations leading to drilling within the Binutaan, Diat and Panganason areas.
King-king is one of the largest undeveloped copper-gold deposits in the world, with a measured and indicated mineral resource of 962.3 million tonnes at 0.25% total copper, 0.06% soluble copper, and 0.33 grams/tonne gold, consisting of 5.4 billion pounds of contained copper and 10.3 million ounces of contained gold.
The project is listed as one of the top priority projects by the Philippine Mines and Geosciences Bureau.