The Mapawa Project is a significant gold-copper porphyry prospect which forms part of the Group’s broader regional tenement portfolio in the highly prospective Surigao del Norte mining province in the Philippines. Mapawa represents a strategic development and growth opportunity for Red 5, and is located approximately 20km north of the operating Siana Gold Project.
The project area has been known to be prospective for gold since the 1930s. From 1988 to 1990, Surigao Consolidated Mining Company (Suricon) actively explored the area and undertook field mapping, trenching and drilling, targeting the surface epithermal gold veins, culminating in a limited trial-mining exercise in the late 1990s.
The Mapawa Project was also drilled by Greenstone Resource Corporation (Red 5 Philippines affiliated company) in 2010 and 2011, returning some significant intersections including:
- 167m @ 1.06g/t gold and 0.17% copper (MDD001);
- 156m @ 1.23g/t gold and 0.19% copper (MDD003); and
- 69m @ 1.06g/t gold and 0.16% copper (MDD007).
A JORC 2012 compliant Indicated and Inferred Mineral Resource estimate for the Mapawa LSY deposit was completed in October 2015. View the full
Studies are currently underway to evaluate the potential for open pit mining of the shallower part of the deposit and transporting of higher grade ore from the Mapawa LSY deposit to the Siana processing plant to provide incremental ore feed during the proposed underground mining phase of the Siana Gold Project.
Approximately 79,000 tonnes of Mapawa ore was mined historically by Suricon in the 1990s, of which a significant proportion was used to supplement ore feed at the Siana operations. The remaining portion was used for commissioning the current Siana mill in 2012, which returned positive results, demonstrating that the Mapawa material may be suitable for blending with the Siana ore.
The Group believes that there is also significant potential to add to the Mapawa LSY resource base and plans to conduct further exploration activities, with the goal of increasing the Mineral Resource sufficiently to enable a possible stand-alone gold-copper project at Mapawa.