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INDOPHIL RESOURCES NL

ASX: IRN

The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.

Description

Indophil Resources NL is an Australian publicly-listed company, incorporated in 1996, to acquire, explore for and develop gold and copper-gold opportunities in the Asia-Pacific region. Indophil`s team is highly-experienced and successful in minerals development, with specialisation in the Philippines.

The Company`s focus has been the development of the world-class Tampakan Copper-Gold Project in the southern Philippines. Indophil owns 37.5% of the Tampakan project. The remaining 62.5% is held by Xstrata Copper, with the combined interests being managed through Sagittarius Mines Inc. on behalf of the Philippine Government and the people of the Philippines.

Indophil is also looking to new business opportunities in the Philippines and across the globe. In this context, Indophil looks to securing an interest in advanced exploration or projects already in minerals production.

TAMPAKAN COPPER-GOLD PROJECT

The Tampakan Copper-Gold Project (Tampakan Project) is located approximately 50km north of General Santos City , a major growth centre on the southern Philippines island of Mindanao. General Santos has a population of approximately 500,000 and is accessed by sealed highways, a major deep water port and an international standard airport with the capacity to take commercial aircraft.

JORC compliant resource estimates released in 2005, 2006, 2007 and 2009 have progressively increased the size of the Tampakan Project. The latest resource estimate (released October 2009) is 2.4 billion tonnes at 0.6% copper and 0.2g/t gold (Measured, Indicated and Inferred) at a 0.3% copper cut-off. The Tampakan deposit represents the largest undeveloped copper-gold deposit in the South East Asia - Western Pacific Region. The resource contains 13.5 million tonnes of copper metal and 15.8 million ounces of gold. Significant additional mineralisation potential exists.

The Tampakan Copper-Gold Project was the subject of a Pre-Feasibility Study (PFS) by Indophil and then an Extended PFS by Xstrata Copper. Xstrata`s Final Feasibility Study into project viability was completed during the econd quarter of 2010. In summary, the Tampakan Project is proving to have robust economic outcomes using conservative price inputs and based on a preferred large scale open pit option producing copper concentrates with associated gold.

On 1 April 2007, Xstrata assumed the role of project manager following exercise of the option to purchase 62.5% of the share in Sagittarius Mines, Inc (SMI)., the operating entity of the Tampakan Project. Indophil holds the remaining 37.5%.

On 8 April 2010, SMI advised that it had formally handed over the Tampakan Mining Project Feasibility Study to the Philippine Government. The Philippine Government would undertake a detailed review of the study.

OTHER PHILIPPINES EXPLORATION

The Company`s current exploration portfolio includes prospects within four geographically distinct exploration areas in the Philippines Northern Luzon, Southern Luzon, Central Mindanao and East Mindanao.

The prospects lie within three granted licenses and seventeen tenement applications totalling approximately 2700km2 and contain diverse styles of gold and copper-gold mineralisation including vein, stockwork and breccia hosted epithermal gold-silver mineralisation, porphyry related copper-gold systems with associated copper-gold skarns and metasomatic replacement deposits. All prospects contain significant hydrothermal alteration of host sequences with either significant associated mineralisation or geochemical anomalies. The prospects range from the more advanced Manat Project in East Mindanao where the Company has defined an Inferred Resource (JORC) containing 245,000ozs gold and associated base metals to the early stage Central Mindanao Project area where reconnaissance sampling and geological interpretation has identified 19 separate targets for followup exploration.

In addition to its already held prospects, Indophil has an active program of assessing new project opportunities throughout the Philippines to further upgrade its exploration portfolio.

Balatoc Prospect (85% Equity)

Heads of Agreement which provides the opportunity to earn up to 85%. Adverse claims disputing tenement applications need resolution. Historical studies by previous owners of the prospect identified exploration potential for a copper deposit in the range of 80-90 million tonnes grading 0.6-0.7% copper and 0.2-0.3g/t gold plus exploration potential for a gold deposit in the range of 0.8-1.2 million tonnes grading 10-15g/t gold.

Manat Prospect (25% Equity)

Magas Vein System has JORC compliant Inferred Resource containing 245,000ozs gold, 2.28Mozs silver, 22,500t lead and 42,000t zinc which is open at depth and along strike. Discovery of a new porphyry system including 227m @ 0.19% Cu, 0.30g/t Au.

Bunawan Prospect (100% Equity)

Early exploration. Strong stream sediment Au anomalies associated with extensive areas of hydrothermal alteration. Delays being experienced due to title conflict.

Labo Prospect (100% Equity)

Properties farmed out to Bulawan Resources in 2006-07. Reassessment of the project area planned following return of property to Indophil. Significant intersection of 5.99m @ 4.87g/t gold in pre-farm out Indophil drilling. Gold geochemical anomalies remain to be tested.

Buda Prospect, Mt Kinabalin (100% Equity)

Two blocks of tenement for grant, 10 licences subject to joint venture with Freeport. Early reconnaissance exploration with 19 separate targets identified for follow-up. Channel sampling of a massive sulphide lens at Bangan returned 5.8m @ 31g/t Au, 80g/t Ag and 1.05% Cu.

Mine For

copper, gold, silver, lead, zinc

Location of operation(s)

Philippines

Address

Level 3, 411 Collins Street
MELBOURNE, VIC, AUSTRALIA

Phone

(03)8620 5800

Email

Website


Last Updated

1/04/2011

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.