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Pan De Azucar Project: Porphyry Mineralization Yet to be Drill-Evaluated
The Pan de Azucar MPSA covers 535 hectares on Pan de Azucar Island and adjacent Panay Island. Mindoro may earn a 75% interest in the Pan de Azucar Project through phased exploration expenditures and issues of shares. Mindoro has earned a 40% interest to date and is negotiating an extension to its final, Phase 3, earn-in period.
Geology and Mineralization: The Pan de Azucar Prospect is located within a collapsed caldera structure, where the dacitic-andesitic caldera-fill package hosts pervasive replacement and structurally-controlled alteration and mineralization. Dacitic units are preferred hosts to mineralization. An epithermal, massive pyritic-sulphide deposit, the Valderama Zone, with low to moderate grade copper-gold-zinc-silver values was drill-intersected by Mindoro in 2001 and a porphyry copper-gold target located at Asparin Hill in 2002.
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