DJ Philippine Govt: Canada’s Olympus Eyes Gold, Copper Mine Proj
September 4th, 2008 | by mantrionline |Canada-based Olympus Pacific Minerals, Inc. (OLYMF) is considering development of a copper and gold mining project in the northern Philippines, a senior official of the Mines and Geosciences Bureau said Wednesday. Olympus is specifically eyeing development of the Capcapo gold property in the province of Abra, the official said.
Capcapo is located in the north of the Baguio Mankayan gold district. The total of recorded gold production and existing resources still in the ground in the district is in excess of 60 million ounces.
According to the company’s Web site, the project area has all the similar epithermal-gold characteristics of the Baguio gold district but has remained virtually unexplored.
Olympus already produces gold from its Bong Mieu mining project in central Vietnam.
