|
Page 1 of 7
APC Mining Corporation is an 83 percent owned subsidiary of APC Group. The Company has an application for an Exploration Permit with the Department of Environment and Natural Resources in the Municipality of Alubijid, Misamis Oriental. The application covers 2,537 hectares of confirmed chromite & nickel-bearing formation. The Company recently secured the Free and Prior Informed Consent (FPIC) from the National Commission on Indigenous People (NCIP), which is a requirement for the Exploration Permit
The Company also has two applications for Exploration Permits in Zambales - in Sta. Cruz (5,176 hectares) and in Palauig (5,297 hectares). Zambales is a known chromite district and is estimated to host about 4 million metric tons of ore (MGB, 2004). The ultramafics of Zambales are also host to other metallic minerals such as nickel, cobalt and platinum group metals. The Sta. Cruz EP area is adjacent to the old Acoje Mines that produced metallurgical chromite up to the late 1990s. Nearby also are the nickel prospect of Benguet Corporation and Acoje Mines. Nickel ore in these prospects grade from 0.5 to 1.7% nickel.
APC Mining recently filed six applications for Exploration Permits in the Province of Palawan in the Municipalities of Aborlan, Narra, Brooke’s Point, Bataraza (Barangay RioTuba) and the City of Puerto Princesa. Particularly interesting is Rio Tuba. The area applied for is immediately adjacent to the nickel producing mines of Rio Tuba Nickel Mining Corporation and estimated to contain 11.5 million MT of ore with an average of 2.35% Ni. Palawan is known to host chromite and nickel deposits.Also, the application in Long Point, Aborlan is adjacent to the nickel producing mines of Atlas Consolidated Mining Corporation and is known to contain high grade nickel and chromite ore based on the studies made by JICA and MGB geologists.
On May 23, 2007, the Company applied for an Exploration Permit in the Municipality of Sablayan in the Province of Mindoro Occidental covering an area of 2,834 hectares. The area is also known to contain nickel and chromite deposits. APC Mining applied for an additional 221 hectares in the City of Puerto Princesa last June 13, 2007, 380 hectares in the Municipality of Mati, Province of Davao Oriental last June 15, 2007and another 271 hectares in the Municipality of Carrascal, Province of Surigao del Sur last July 4, 2007.
The Company so far filed twelve (13) exploration permits in the provinces of Zambales, Misamis Oriental, Palawan, Mindoro Oriental, Davao Oriental and Surigao del Sur. This brings the aggregate area applied to 29,414 hectares after considering the 25 hectares upward adjustment in the claim area in Davao.
|