Assay results from six holes recently drilled at Mining Group’s Comval copper-gold project have confirmed significant porphyry-style mineralization at the Bayag Bayag deposit.

Highlights from the drilling include 5 metres @ 0.44% copper and 0.15 grams/tonne gold from 45 metres and 2 metres @ 1.38% copper and 0.64 grams/tonne gold from 104 metres within a broader low grade mineralized porphyry feeder zone. Intercepts of skarn-style copper include 32 metres @ 0.61% copper and 0.18 grams/tonne gold from 32 metres, including 11.30 metres @ 1.11% copper and 0.16 grams/tonne gold from 50.7 metres.

Mining Group says these results confirm the prospect’s potential to host a significant copper deposit, with the mineralized porphyry feeder zones identified enhancing the project’s prospectivity. One hole intercepted more than 100 metres of highly altered granodiorite with high grade copper values of up to 1.38%.

The Comval project is operated by Philco Mining (PMC), of which Canada’s Cadan Resources owns 20%. The remaining share is held by ASX-listed Mining Group, which is the manager of the project.

Comval covers 4310 hectares in the established copper and gold producing Compostela Valley region where there is much potential for large-scale copper and gold porphyry mineralization. It’s about 90km north of the Mindanao capital Davao, on the east Mindanao ridge which hosts world-class deposits including Kingking and Dilwalwal.

Mining Group’s onsite exploration team has used geological mapping and interpretation to further refine the exploration model with the integration of ongoing detailed ground magnetic work and have identified numerous skarn and porphyry targets for drill testing.

High resolution ground magnetic work between the Tagpura and Bayag Bayag prospects has also been conducted, and the results will be used to identify targets that have been missed by drilling.

www.cadanresources.com

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