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MANILA - Metals Exploration PLC (AIM:MTL) has been granted an exploration license for the Dupax project in Northern Luzon, Philippines, and commenced geophysical surveys and drilling activities, according to a company press release statement.
The newly granted tenement EP-000168 covers approximately 3,100 hectares and is located about 20 kilometers southwest of the company’s existing Runruno ore processing facility.
Metals Exploration has begun an Induced Polarisation ground geophysics survey over rock chip and trench sampling anomalies that cover a 10-kilometer geological belt containing the historical Keon open pit operation. The company plans to commence a 2,500-meter drilling program targeting outcropping high-grade mineralization.
Previous rock sampling in the area showed mineralization over a 10-kilometer strike with historical rock sample grades of up to 15.47 grams per tonne gold and 7% copper. Recent trench sampling returned grades of up to 3.92 grams per tonne gold, 7.50% copper, and 24.74% zinc.
The initial drill program consists of 11 holes focused around the historical Keon open pit area where mineralization has been mapped over 1,000 x 200 meters. The campaign will also test three other nearby zones of mineralization and alteration defined from recent mapping.
The company indicated that should exploration at Dupax discover an economic resource, the mined ore could potentially extend processing operations at the Runruno facility after ore feed from the Runruno FTAA tenement winds down.
The acquisition of IP data is expected to be completed by the end of August 2025, with drill core assays to be reported progressively during the six to eight week drilling campaign.
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