http://www.mb.com.ph/BSNS2006072670143.html

Vulcan Industrial and Mining Corporation may set up a gold processing plant in its Pinut-an mine if current exploration trend continues and the assay results are positive enough to justify it.

Vulcan executive vice president Patrick Caoile informed the Philippine Stock Exchange (PSE) that initial interpretation of available geological data obtained from surface geological mapping and underground workings, correlated with diamond drilling results, indicate that the Pinut-an goldbearing quarts veins have characteristics of a low sulphidation vein type mineralization.

In July, the firm will continue exploratory drillings and make alternative drill hole proposal at the Pinut-an main vein system west extension in lieu of the Caingin Point drill holes if dozer continues to be unabailable.

The firm will also continue wall cleaning and remapping of tunnel 0 and start cleaning and re-mapping of level 32 Tunnel, said Caoile.

Work activities during June were concentrated on manual preparation of drill sites and an access road. Subsequently, surface and underground drill holes were made and are still in progress.

Caoile said the main Pinut-an Vein C mineralized zone was intersected at an interval of 3.5 meters which is a very good initial indication. (JAL)

“The intersection consists of moderate to highly silicified, partially argillised zone containing base metals sulphide and 10 to 20 centimeter quartz veinlets,” Caoile said adding that the white quartz veins contain a few specks of visible gold.(JAL)