MGB OKs exploration permit of Benguet Corp in Zamboanga

MANILA, Philippines — Listed Benguet Corp. has secured an exploration permit for its gold project in Zamboanga Sibugay.

In a regulatory filing, Benguet Corp. said the Mines and Geosciences Bureau (MGB) of the Department of Environment and Natural Resources approved the exploration permit for the Bolco gold Project in Zamboanga Sibugay.

“This will allow the company to start exploration activities in the area, including drilling of the San Fernando vein,” Benguet Corp. said.

Located about 150 kilometers from Zamboanga City, the project straddles the common boundary of RT Lim, Zamboanga Sibugay and Siocon in Zamboanga del Norte.

Benguet Corp. has an operating agreement with the claim owner, Oreline Mining Corp. (OMC), to explore and operate the property.

Benguet Corp. conducted tails buying operation in its Zamboanga gold prospect in 1990 under an agreement with OMC.

At that time, the volume of available high-grade tails from small-scale mining activities in the area is not enough to justify resumption of operations.

Bolco is just one of the projects that Benguet Corp. holds interest in.

The others include the Acupan Gold, Ampucao Gold Copper, Pantingan Gold, and the Ilocos Norte and the Kalinga Financial or Technical Assistance Agreement prospects.

It likewise resolved a long-standing issue with the claimowner of the Kingking Project in 2010.

Benguet Corp. is engaged primarily in mining and mineral exploration. It currently produces and markets gold, silver, nickel ore, and limestone.

The firm operates gold mines in Benguet, nickel mines in Zambales, and limestone production facility in Baguio City.