Nihao reports positive assay results in Botolan

Nihao Mineral Resources International Inc. told the Philippine Stock Exchange that its target mining tenement in Botolan town in the province of Zambales, northwest of Manila, showed positive results of prospective nickel reserves.

Nihao has a total of 7,102 hectares in exploration areas in the towns of Botolan and Iba in Zambales. The first 400 hectares are being explored.

Of the initial exploration, a 100-hectare zone has been delineated to contain nickel laterite and saprolite material with 0.8 percent to 2.0 percent nickel, based on contiguous test pits, the company said. More closely spaced test pitting is being done in the most promising area to delineate minable ore reserve, it said.

Exploration plans for another 700 hectares are being prepared, Nihao said.

Nihao senior geologist Edwin Abrasaldo said the company was bullish on the prospects found in Zambales because of the assay results and the initial findings from the area.

“For future prospects, there is a need to block an ore reserve for continuous mine development,” he said.