Stock Quote: VSE

Price 0.02$

Change (+0%) +0.00

Volume 10,002

Today's Open 0.02$

Previous Close 0.02$

Intraday High 0.02$

Intraday Low 0.02$

52 Week High 0.04$

52 Week Low 0.02$

Feb 23, 2024 12:51 PM Pricing delayed 20 minutes


Stock Quote: OTC

Price 0.01$

Change (+12.5%) +0.00


Today's Open 0.01$

Previous Close 0.01$

Intraday High 0.01$

Intraday Low 0.01$

52 Week High 0.03$

52 Week Low 0.01$

Feb 21, 2024 10:54 AM Pricing delayed 20 minutes
Corporate Presentation Find out more about TVI through our latest Corporate Presentation GO TO CORPORATE PRESENTATION
The Balabag
The Balabag Gold-Silver Project Find out more about the Balabag Gold-Silver Project WATCH VIDEO
The Canatuan
The Canatuan Experience Click here to review TVI's history of success at the Canatuan project GO TO THE CANATUAN EXPERIENCE

Email UpdatesSign up to receive email updates.

Email Address *

Enter the code shown above.

TVI Identifies Copper-Gold Prospect Near Canatuan Mine, Philippines

February 13, 2007

- "Tabingan" Outcrop Located 10 km Northeast of Canatuan Mine

- Outcrop Yields High-Grade Gold, Copper Samples from what is Believed to be the Same Geological Formation that Hosts the Canatuan Ore Body

-- Samples Contain up to 5.5 gpt Au and 1.82% Cu

- Priority Follow-up Exploration Expected

- Priority Follow-up Exploration Expected-->

CALGARY, ALBERTA--(CCNMatthews - Feb. 13, 2007) - TVI Pacific Inc. ("TVI" or the "Company") (TSX:TVI) today announced that its affiliate, TVI Resource Development (Phils.), Inc. ("TVIRD"), has identified a new copper-gold prospect near its producing mine at Canatuan, Siocon, Zamboanga del Norte on the southern island of Mindanao. The prospect, called Tabingan, is located approximately 10 aerial kilometres northeast of Canatuan.

Certain statements in this News Release constitute forward-looking statements, including statements respecting additional exploration activities at Tabingan, the estimated remaining mine life of the Canatuan mine and the timing of receipt of regulatory approvals from Government authorities in the Philippines. Readers should refer to the cautionary statement that appears at the end of this News Release.

The Tabingan outcrop was identified as a result of TVIRD's reconnaissance work (involving to date, mapping, channel and limited geochemical sampling), which targets, among other areas, TVIRD tenements surrounding Canatuan. The objective of this component of the exploration program is to discover additional resources that may be processed through the Canatuan facility in order to extend the current estimated mine life of 8 years.

The Tabingan outcrop, located in TVIRD's Exploration Permit Application (EXPA-00061-IX), yielded banded to massive sulphides hosted in a quartz-sericite schist body, essentially similar in nature and attitude to the Canatuan ore body. The sulphide-schist occurrence is estimated to reach up to 20 metres in thickness and has been traced over several hundred meters to date over multiple exposures along two tributaries to the Tabingan Creek. More work is needed to further delineate the mineralized zone. The total surface area of the TVIRD tenement hosting the outcrop is 14,580 hectares in size and remains largely under explored, as exploration activities to date have concentrated on the south-western part of the tenement.

Readers are invited to consult the maps associated with this News Release (posted on TVI's website, at tvi2014.q4web.com), for the location of the Tenement, the Canatuan Mine, and the Tabingan Prospect.

Assay results from channel samples obtained directly from the Tabingan outcrop yielded as much as 5.5 grams per tonne (gpt) Gold (please see Sample GD-208 B in Table 1, below) and 1.82 % Copper (see sample GD-207 B in Table 1).

"The location of the Tabingan prospect is particularly significant to TVI," commented Clifford James, President and CEO of TVI Pacific. "One of the key objectives of the Company's exploration program in the Philippines is to extend the mine life at Canatuan by securing new resources. Potential new gossan and/or sulphide deposits in this area could result in an alternative mill feed source for the Canatuan mine."

"Further work, including systematic mapping, test-pitting, trenching and eventually drilling is required to evaluate the potential of the Tabingan Prospect", Mr. James added.

TVI anticipates that its 2007 Exploration Program, to be the subject of a future TVI News Release, would be directed on a priority basis toward the further evaluation of this sulphide body.

TVIRD has entered into the Free Prior Informed Consent ("FPIC") process under Philippine Mining Act regulations, leading to a Memorandum of Agreement with Indigenous People resident in the area - as a precondition to receiving final Government approval for further exploration testing and drilling on the EXPA-000061-IX tenement. Once final approvals are received - anticipated later in 2007 - the Company expects to initiate an extensive drilling program utilizing TVI's drilling subsidiary, Exploration Drilling Corporation Inc. ("EDCO").

The following table sets out information concerning assay results from samples collected at the Tabingan prospect.


Sample Au, Ag, Cu,
Code Interval ppm ppm ppm Remarks
AD0044 A 1.00 m 0.366 27.4 2820 Qtz-Py-Ser Schist
AD0044 B 0.85 m 1.257 39.3 6133 Banded Sulfide
AD0044 C 0.85 m 0.768 22.6 5830 Qtz-Py-Ser Schist
AD0048 A 0.75 m 0.639 39 2259 Banded Sulfide
AD0048 B 0.75 m 1.119 45.6 5396 Banded Sulfide
AD0049 A 1.00 m 0.147 6.6 617 Qtz-Py-Ser Schist
AD0049 B 1.00 m 1.834 107.5 17354 Banded Sulfide
GD-207 A 0.60 m 2.146 145.7 13654 Massive Sulfide
GD-207 B 1.00 m 0.128 4.3 18237 Banded Sulfide
GD-208 A 1.00 m 1.246 53.4 4117 Banded Sulfide
GD-208 B 1.00 m 5.495 193.7 17477 Banded Sulfide
GD-209 A 0.50 m 1.718 45 4980 Banded Sulfide
GD-209 B 1.00 m 2.039 125.6 17434 Massive Sulfide
All samples were processed and analyzed at McPhar Laboratory, a fully
accredited assay laboratory in Manila
About TVI Pacific Inc. (TSX:TVI)

TVI Pacific Inc. is a publicly traded Canadian mining company focused on exploring for and producing precious and base metals within district scale systems in Asia.

In the Philippines, TVI's most advanced project, the Canatuan Mine, (the first foreign-invested, new, mining project in the Philippines in nearly four decades) began mining and milling operations in mid-2004, producing gold and silver dore. In 2006, TVI received a completed NI 43-101 feasibility study on the Canatuan Sulphide project prepared by Norwest Corporation. The report has since been filed with certain securities regulatory authorities in Canada and is available at the SEDAR website. The Norwest study addresses the copper-zinc bearing massive sulphide zone, or lower portion of the Canatuan Deposit. Construction of the Sulphide Project at Canatuan is now underway. In addition, TVI holds a 2.5% NSR on the Philippine-based Rapu Rapu project operated by Lafayette Mining Ltd. Exploration in the Philippines is being conducted at Canatuan, in an effort to expand TVI's mineral resource base and to find new deposits, at Balabag and at other areas which management of TVI view as compelling exploration properties.

In China, TVI's wholly-owned Chinese subsidiary, Hunan Pacific Geological Exploration Inc. ("HPGEI"), was the first foreign mining company to be granted both WOFE status and a Qualified Explorer License. The exploration program in China is focused primarily within the Golden Triangle area, a highly prospective metallogenic region in China's south-western provinces of Yunnan, Guizhou and Guangxi Autonomous Region and prospective areas in the Tibet Autonomous Region. HPGEI has 2,394 sq kms of land under application in China in the Golden Triangle and in the Tibet A.R.

TVI also has a Drilling Division consisting of Exploration Drilling Corporation ("EDCO"), a wholly-owned subsidiary of TVI Pacific Inc. based in the Philippines, and Hunan Pacific Drilling ("HPD"), a division of HPGEI based in China, which generates revenue from contract drilling.

Carl L. Caumartin BSc, P.Eng., MBA, Vice President, Exploration of TVI Pacific Inc. is serving as TVI's "Qualified Person" (as contemplated by National Instrument 43-101 (Standards of Disclosure for Mineral Projects)), for purposes of the 2007 exploration program as described in this News Release. Mr. Caumartin has reviewed and approved this news release and has verified the data (including sampling, analytical and test data) set out in this news release. McPhar Laboratory of Manila, Philippines, an ISO 9001/2000 accredited laboratory, performed the sample preparation and assaying for the prior sampling phase of the exploration project at Tabingan. Gold analysis was by 50 gm fire assay fusion; where gold assay values greater than 3ppm were by gravimetric finish, and by AAS where the values were less than that threshold. Silver was determined by AAS after an HCl-HNO3-HClO4 digest. Pulp and coarse duplicate results were included in the analytical report. A blank and a standard sample were included for each batch of 50 samples for quality control. A replicate assay was done on every 10th sample, and certified reference materials were used in every 20 samples. In addition to the laboratory's internal QA/QC, TVIRD independently inserted blanks and standards randomly, but on average every twentieth sample.

Certain information set out in this News Release constitutes forward-looking information. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "intend", "could", "might", "should", "believe" and similar expressions. Forward-looking statements are based upon the opinions and expectations of management of the Company, as at the effective date of such statements and, in some cases, information provided or disseminated by third parties. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, and that information received from third parties is reliable, it can give no assurance that those expectations will prove to have been correct. Forward-looking statements are subject to certain risks and uncertainties (known and unknown) that could cause actual results or outcomes to differ materially from those anticipated or implied by such forward-looking statements. These factors include, but are not limited to, such things as the volatility of prices for precious metals and base metals, commodity supply and demand, fluctuations in currency and interest rates, inherent risks associated with the exploration and development of mining properties, ultimate recoverability of mineral reserves, timing, results and costs of exploration and development activities, availability of financial resources or third-party financing, new laws (domestic or foreign), changes in administrative practices and changes in exploration plans or budgets. Accordingly, readers should not place undue reliance upon the forward-looking statements contained in this News Release and such forward-looking statements should not be interpreted or regarded as guarantees of future outcomes.

Forward-looking information relating to the timing of receipt of Government approvals is based upon prior experiences with Government agencies in the Philippines, prior experiences with indigenous communities in the Philippines and the Company's understanding of the regulatory environment in the Philippines. Forward-looking information relating to the nature and timing of further exploration at Tabingan is based upon the results of prior exploration activities, the current exploration plan developed by the Company, and the Company's current budget and overall strategy for exploration in the Philippines, which plans, budget and strategy are all subject to change. Forward-looking information respecting the remaining life of the Canatuan mine is based upon the extent of the estimated mineral resources at Canatuan, the rate at which ore sourced from the mine is processed through the Canatuan facility and assumptions relating to future increases in processing capacity at Canatuan. The forward-looking statements of the Company contained in this News Release are expressly qualified, in their entirety, by this cautionary statement. Various risks to which the Company is exposed in the conduct of its business (including exploration activities) are described in detail in the Company's Annual Information Form for the year ended December 31, 2005, which was filed on SEDAR on March 30, 2006 and is available under the Company's profile at www.SEDAR.com. Subject to applicable securities laws, the Company does not undertake any obligation to publicly revise the forward-looking statements included in this News Release to reflect subsequent events or circumstances.

The Toronto Stock Exchange has neither approved nor disapproved of the information contained herein.

For more information, please contact

TVI Pacific Inc.
Clifford M. James
President and CEO
(403) 265-4356


TVI Pacific Inc.
Paul Moon
Director, Corporate Communications
(403) 265-4356
(403) 264-7028 (FAX)
Email: tvi-info@tvipacific.com
Website: tvi2014.q4web.com