ZAMBOANGA CITY (Mindanao Examiner / Jan. 28, 2012) – TVI Pacific Inc. announced that its Philippine affiliate, TVI Resource Development (Phils.), Inc. (TVIRD), has completed the Free Prior Informed Consent (FPIC) process for a new Mineral Production Sharing Agreement (MPSA) in proximity to the producing Canatuan mine.
Approval of the FPIC process was granted by the National Commission on Indigenous Peoples (NCIP) and all documents have been immediately forwarded to the Mines and Geoscience Bureau for review and granting of the MPSA permit required to advance exploration activities.
The permit area is located within the group of properties known as the Greater Canatuan Tenement Area that surround the Canatuan mine. The property, Malusok and SE Malusok, is where TVI previously identified potential mineralization during an early-stage surface exploration program.
Once the approved MPSA permit has been issued, TVI will be authorized to carry out an advanced exploration program on the property area. The goal of the program will be to target additional resources, which, if confirmed, could serve as a new ore source to extend the life of the Canatuan mine.
TVI Pacific Inc. is a publicly-traded Canadian company that is focused on the production, development, exploration and acquisition of resource projects in the Philippines. TVI produces copper and zinc concentrates from its Canatuan mine, is pre-developing its Balabag gold and silver project, and is carrying out exploration programs on its other North Zamboanga tenements. TVI also has an interest in an offshore Philippine oil property.
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