A granted Mineral Production Sharing Agreement (MPSA) covers the Archangel Project. Mindoro has the right to earn up to a 75% interest in the Batangas Projects and has signed a letter of Intent to aquire the remaining 25% interest. Geology of Archangel consists of pervasively altered volcanics intruded by andesitic, dioritic and dacitic intrusives, and overlain by younger cover volcanics to the northwest. A cluster of gold-silver and porphyry copper-gold prospects has been outlined along a strong northeast structural trend of at least six kilometers, which is open to the northeast. Extensive phyllic, SCC (sericite-clay-chlorite) alteration, characteristic of porphyry copper-gold-related mineralization, along with abundant copper showings, occur along the six kilometer trend. Superimposed on this at higher elevations are areas of advanced argillic and argillic alteration which are interpreted as being "upflow" zones and which may indicate proximity to porphyry centers below. Near-surface zones of lowsulphidation epithermal gold-silver mineralization, including Kay Tanda, have been telescoped into the advanced argillic alteration and are interpreted to reflect especially fertile and metalliferrous porphyry systems below.


Archangel Project -- Gold Resources and Prospects

The main features are shown on the above map "Archangel Project -- Gold Resources and Prospects". This illustrates the location of the resource area, the extent of the chargeability anomaly (indicating metal sulphides), plus epithermal gold silver zones as mapped at surface, and zones of advanced argillic alteration. The latter can be especially important guides to porphyry copper-gold systems nearby.