CALGARY, AB, May 3, 2021 /CNW/ – TVI Pacific Inc.
Mr. Cliff James, Chairman and CEO of TVI and Chairman of TVIRD stated, “The latest results from our ongoing exploration program are excellent and are consistent with our strategy of continuing to expand our Balabag resource base to support growth of the Balabag Mine and the project portfolio of TVIRD.
TVIRD commenced its own drilling program at Balabag in November 2005 and has continued exploration through to the current date, completing 382 drill holes with a total meterage of 41,161.60 meters as at December 31, 2020.
A drill intercept with core length of 11.15 meters from BLDH-20-351R1 returned an average of 4.25 g/t Au and 102.3 g/t Ag.
Drill core intercept with a total meterage of 2.7 meters, averaging 9.39 g/t Au and 222.7 g/t Ag was also reported at a depth of 107.40 meters.
TVIRD has appointed an Analytical Chemist to ensure that sampling procedures are strictly followed in accordance with industry standards and to implement and monitor the laboratory’s internal QA/QC program.
The focus of Phase 5A is to test and prove the potential deeper orebodies at Lalab, Miswi and West Tinago as well as to test the shallow Daguman prospect located to the north of Balabag Hill.
Mr. Bue has acted as the Qualified Person in compliance with National Instrument 43-101 Standards of Disclosure for Mineral Projects reporting requirements by virtue of his membership in the Professional Engineers of Ontario and Canadian Institute of Mining and Metallurgy and has confirmed compliance of this press release with NI 43-101 requirements.
TVIRD has a pool of highly competent managers, technical personnel and skilled workers with previous experience in gold-silver operation and owns 100% of the Balabag gold/silver project in addition to 60% interest in Agata Mining Ventures Inc.
TVI currently holds a 30.66% equity interest in TVIRD and a 2.95% equity interest in Integrated Green Energy Solutions Ltd., a publicly listed company incorporated in Australia with shares listed on the ASX .
Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “intend”, “could”, “might”, “should”, “believe”, “scheduled”, “to be”, “will be” and similar expressions.
Forward-looking statements are based upon the opinions and expectations of management of the Company as at the effective date of such statements and, in certain cases, information supplied by third parties.
The forward-looking statements contained in this News Release are made as of the date hereof and the Company does not undertake any obligation to update or to revise any of the included forward-looking statements, except as required by applicable securities laws in force in Canada.