Rusina Mining completes acquisition of Barlo Project
September 15th, 2008 | by mantrionline |Rusina Mining, the nickel laterite producer in the Philippines, announced this morning that it had completed the acquisition of the Barlo Exploration Permit from the administrators of Fire Resources Limited.
The Barlo Project is located only 30 kilometres north of Rusina’s current Acoje Nickel-Chromite-PGM project. The Barlo Project covers approximately 4,370 hectares, and produced some 55,000 tonnes of hand sorted ore between 1974 and 1981, estimated to “exceed 10% copper” from a supergene zone.
Rusina intends to test the down dip extensions of the high grade copper zone, and will also conduct additional exploration on other ‘high priority’ targets, including the Happy Valley and Viga prospects. Stream sediment sampling conducted in 2006 at Happy Valley recorded elevated levels of gold, silver and base metals. Previous exploration at the Viga Prospect has also confirmed the potential for copper and gold.
“In addition to the copper and gold potential of the area, the company believes the acquisition of this property is particularly strategic due to reported massive pyrites grading greater than 20% that could provide sulphuric acid for the Acoje nickel project proposed heap leach operations. A pyrite concentrate was previously produced by the Acoje Mining Company at Barlo and sold to local Philippine fertilizer companies” the company added.
Rusina also provided an operation update for Acoje Project. A current 1500 metre drill program is 70% complete, with the priorities of the program altering slightly as requests for chromite ore have increased. DMCI, who are Rusina’s partner and operator of the project, recently sent a trial shipment of chromite ore.
Rusina also announced that a Nickel Heap Leach Pre-feasibility Study under way by European Nickel had been delayed by “a few weeks”.
