Geograce reports potential nickel find

GEOGRACE Resources Philippines, Inc., said Wednesday that it found high potential nickel reserves within its target mining tenements in the provinces of Zambales in Northern Luzon and Bukidnon in Mindanao.

In a statement, Edwin Abrasaldo, Geograce senior exploration geologist, said that in Botolan town in Zambales, initial results of test pits show 2 to 3 meters of laterite assaying 0.9-1.2 percent nickel, and 2 meters of saprolite with grades of 1.2-2.0 percent nickel.

“A subarea of 350 hectares is currently the target of a more accelerated exploration program.” Abrasaldo said. He added that extension of this mineralized area towards the north in Iba town is very much possible. “About 700 hectares of prospective area [in Iba], Botolan is 6 kilometers away from the coast,” Abrasaldo said.

In Malaybalay town in Bukidnon, Abrasaldo said that surface soil sampling across the ridge revealed the presence of 0.2-0.76 percent in the eastern portion of the ridge.
“The company’s St. Peter mine site occupies a ridge that is 20 kilometers long and 7 kilometers at its widest,” Abrasaldo said. He also said that this is indicative of the occurrence of nickel-bearing profile at depth.

“Further sampling in the northern, southern and eastern areas are to be carried out to further delineate the area of nickel anomalies, and from which further exploration [drilling and test pitting] is to be carried out,” Abrasaldo said.

Manila Times

By:Chino S. Leyco