Brookmount Corporation is in the process of evaluating an acquisition of an existing deep shaft mining operation in northern Philippines. This operation comprises a large reserve area of over 100 HA and has estimated recoverable reserves of ore of over 200,000 tonnes at an average ore grade of 2g/tonne.
Immediate expansion plans include acquisition of additional high ore grade properties adjacent to our Alason operation. Extensive geological research on the area reveals a high number of “hot spots” with discrete ore grades of up to 30g/tonne, compared with average for the area of 2.5-5 g/tonne. The Company recently acquired an additional 1HA property with similar ore grade characteristics.
Two additional areas for acquisition in Alason totaling 15 hectares are slated for the Company’s expansion strategy. Additionally, The Company has recently commenced the construction of a larger capacity, 10,000 tonne leach pad which will enable leaching and processing to be conducted on a continuous basis, as loading and unloading of pads can be staggered over the operating period thus maximisingmonthly output of dore (unrefined) gold.