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PHILIPPINES - TVI expands exploration program E-mail

TVI Pacific has expanded its 2007 Philippines exploration program.
The Philippine exploration work program will be carried out by TVI"s affiliate, TVI Resource Development (Phils), Inc and funded by internally-generated cash flow, targeting the company"s main strategic exploration objectives within its current exploration areas of Canatuan, Balabag, North Zamboanga and in the greater Philippines.

TVI says an serial geophysica lsurvey encompassing 371sqkm to be flown over the Canatuan tenements, including the Canatuan mine area and the recently identified new prospects at Tabingan, Matigdao and Palalian, is expected to be added to this year's program

TVI president and CEO James Clifford says: "TVI has created a platform of growth in the Philippines and we plan to capitalize on it.

"We believe the Canatuan area has the potential to become a long-term mining camp and TVI is reinvesting its cash flow to find out if we're right. The aerial survey adds an important element to the search."

TVIRD completed a systematic infill and expansion drill program at Canatuan late last year to determine whether additional mineral resources are present at Canatuan in sufficient quantities to enable TVI to replace depleting reserves and extend the life of the mine.

The program involves 125 reverse circulation drill holes (an aggregate of 4761 metres) and 72 diamond drill holes (an aggregate of 3619 metres) for a combined total of 8380 metres.

Information and assay data from this program are now being compiled. TVI management expects that an updated NI 43-101 mineral resource/reserve report for Canatuan will be completed in the near future.  
 
During the first half of this year, an aggressive Canatuan near mine exploration program, including infill test-pitting and channel sampling is scheduled.  These multiple prospects are located within the Canatuan Mine's Mineral Production Sharing Agreement area ("MPSA"), on Application for Production Sharing Agreements ("APSA") Licence Nos. 23 and 39 and on Exploration Licence Application ("EXPA") Licence No. 42.

One of the key objectives of TVIRD's exploration program in the Canatuan area is to determine if additional ore bodies are present that can provide feedstock for both the current Gossan mill at the Canatuan mine and the sulphide mill now under construction, which would allow TVIRD to extend the life-of-mine and enhance the profitability of the overall project. 

TVIRD has identified a new copper-gold prospect called Tabingan, which is located approximately 10 aerial kilometres northeast of Canatuan.  TVI's 2007 exploration program contemplates further evaluation of this sulphide body on a priority basis. 

The Matigdao and Palalian prospects, where TVIRD has identified occurrences of gold, silver and copper mineralization, are located approximately five kilometres northeast of Tabingan.  Six channel samples from one drift assayed an average 6.45 grams/tonne gold and 264 grams/tonne silver, open along strike and at depth.  Additional samples taken from test pits produced values of 3.63 grams/tonne gold, 180 grams/tonne silver and 7.99% copper. 

Further exploration work, including systematic mapping, test-pitting, trenching and eventually drilling is planned to assess the potential of these prospects as an alternative mill feed source for gossan and/or sulphide.

TVIRD has entered into the Free Prior Informed Consent (FPIC) process, which is a prerequisite to the signing of a Memorandum of Agreement (MOA) with the Indigenous People resident in the area.  Once final approvals are received - anticipated later this year - the company expects to initiate a drilling program on these prospects utilizing TVI's drilling subsidiary, Exploration Drilling Corporation Inc.

Most of the sulphide and gossan polymetallic occurrences found in the Canatuan district are associated with a specific quartz-sericite schist unit which has been mapped over 40km along strike. TVI tenements cover this unit.

A comprehensive aerial geophysical survey of the Canatuan tenements, covering approximately 371sqkm, is scheduled for the first half of this year. The survey is to be undertaken to investigate the prospective quartz-sericite schist horizon rapidly, to prioritize additional fieldwork, and to identify additional potential drill targets.

 
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