A mining firm has resumed its exploration for copper and gold in Sagay City, Negros Occidental, Mayor Alfredo Marañon III said Wednesday, November 17.
Marañon said Tambuli Mining Company Inc. (TMCI) officials met with Governor Eugenio Jose Lacson Tuesday morning to update him on their progress.
The exploration in Sagay began in 2012 until 2017 and has recently resumed under new owners, the mayor said.
Tambuli obtained its permit from the Department of Environment and Natural Resources head office, he said.
They are making small drill holes in search of copper or gold in the area, Marañon said.
Celsius Resources Ltd has announced that its Philippine subsidiary, TMCI, has completed its technical due diligence and evaluation of its Sagay copper-gold project, resulting in the CLA Board deciding to pursue further exploration with the expectation of developing the project into a viable asset.
High grades of copper have been seen in core samples taken from the Sagay copper-gold project in the Philippines, it said.
The Sagay project, at Nabigaa Hill and Sherman Hill within the cities of Sagay and Escalante, appears to contain very large-scale porphyry copper mineralization at depth defined by the numerous thick drill hole intersections as seen in the historical drilling conducted by TMCI (a wholly-owned subsidiary of Freeport-McMoRan Inc., at the time), between 2012 and 2016, it said.*