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 Infill Drilling Results at Balabag Continue to be Positive

June 14, 2007

- Most Recent Drilling Yields Values Including:

-- 5.80 m averaging 2.85 gpt Au and 67.18 gpt Ag

-- 7.00 m averaging 1.16 gpt Au and 104.41 gpt Ag

-- 11.37 m averaging 0.95 gpt Au and 47.40 gpt Ag

-- 12.60 m averaging 2.79 gpt Au and 101.92 gpt Ag

-- 11.30 m averaging 1.63 gpt Au and 58.30 gpt Ag

- Resource Estimate Nearly Complete; NI 43-101 Technical Report in Preparation

- Project Scoping Study Completion Anticipated in the Second Half of 2007

-- 7.00 m averaging 1.16 gpt Au and 104.41 gpt Ag

-- 11.37 m averaging 0.95 gpt Au and 47.40 gpt Ag

-- 12.60 m averaging 2.79 gpt Au and 101.92 gpt Ag

-- 11.30 m averaging 1.63 gpt Au and 58.30 gpt Ag

- Resource Estimate Nearly Complete; NI 43-101 Technical Report in Preparation

- Project Scoping Study Completion Anticipated in the Second Half of 2007-->

CALGARY, ALBERTA--(Marketwire - June 14, 2007) - TVI Pacific Inc. (TSX:TVI) or (the "Company") announced today that its Philippine affiliate, TVI Resource Development (Phils.) Inc. ("TVIRD"), has received further positive assay results from the ongoing exploration infill drilling program on the Tinago-Miswi-Lalab vein system at its Balabag Property. The Balabag Property is located on the Zamboanga Peninsula in Southern Philippines approximately 75 km east-northeast of TVIRD's producing Canatuan Mine. The current drill program was designed to provide further delineation of the local epithermal gold vein system and to determine the consistency and continuity of reported mineral values.

Assay results from the holes drilled to date on the Balabag property have been compiled for the purpose of an updated National Instrument 43-101 technical report, which is being prepared by an independent third party. Based on these results, TVIRD expects to provide a resource estimate for the Balabag property in the near future. A preliminary scoping study to assess the Tinago-Miswi-Lalab mineralized zone at Balabag is underway and is expected to be completed in the second half of 2007.

Certain statements in this News Release constitute forward-looking statements, including statements respecting the timing of a resource estimate and scoping study to assess the Tinago-Miswi-Lalab mineralized zone. Readers should refer to the cautionary statement that appears at the end of this News Release.

To date, assays have been received for a total of 94 holes drilled into the Tinago-Miswi-Lalab vein system, which have a total aggregate meterage (total depth of holes) of 10,318.85 metres. Infill drilling at approximate 25-m spacing commenced January 9, 2007. The new data reported in this news release includes the results of the most recent 16 holes for which assay results have been returned to TVIRD. The recent drilling results are summarized in the assay table set out below.

The infill drilling program is currently on hold to permit completion of the Balabag resource estimates. Drilling, provided by TVI's Drilling Subsidiary, EDCO Drilling Corporation, is anticipated to resume pending the scoping study assessment.

A map indicating Balabag drill hole locations has been posted on the Company's website and is available at tvi2014.q4web.com.


Technical Review - Tinago-Miswi-Lalab Vein System

The Balabag prospect is centred on a 1.5 km by 1 km structurally controlled area consisting of a series of vein structures occurring in tuffaceous agglomerate and andesitic rocks, bordered to the north and south by NW-SE regional faults displaying sinistral displacement and inducing dilational jogs along a prominent fracture set. Data collected to date suggests an en echelon system of sigmoidal veins that are stacked together running east-westerly and gently dipping to the north. At Balabag, gold mineralization mainly occurs within quartz carbonate ferrigenous veins hosted in the tuffaceous agglomerate. This volcanic assemblage lies some 3 km to the east of a local dioritic intrusive where copper anomalies have been reported in the past. Such intrusives are often associated with epithermal gold deposits around the Pacific Rim.

The Tinago vein appears to be the largest and most strongly mineralized structure. The mineralization appears to be the strongest from section 4E to 4W (some 400m along strike) where the vein swell is greatest. Latest interpretation based on detailed mapping and infill drilling suggests that the Miswi vein is likely the eastern extension of the Tinago system that appears truncated and displaced by faulting. The Miswi vein remains open to the east and at depth. The Lalab vein system appears to be smaller and thinner, somewhat sub-parallel to the Tinago vein. The Tinago and Lalab veins remain open to the west and at depth, yet appear to decrease progressively further west.

Concession Status

TVIRD holds an option on the Balabag property which was granted under an agreement with Zamboanga Minerals Corporation ("ZMC"). Balabag lies approximately 75 km east-northeast of the TVIRD's mining operation at Canatuan and immediately adjacent to the extensive tenement applications filed by TVIRD in early 2005, which cover an area of 1,257.12 km2. The Mineral Production Sharing Agreement ("MPSA") under which ZMC obtained its rights to the Balabag property covers an area of 47.79 km2. The agreement between TVIRD and ZMC provides TVIRD with an exclusive period, ending in May 2008, to assess the mineral potential of the property. Should TVIRD so elect, the property may be purchased for US$350,000 with ZMC retaining a 2.5% net smelter royalty on the property.

Latest Assay Results

DH-ID No. From To Interval Au Ag AuEq Target Remarks
(m) (m) (m) (gpt) (gpt) $9.50Ag)
BDDH-07-79 45.50 51.30 5.80 2.85 67.178 4.01 Tinago With a
zone with
6.409 g/t
BDDH-07-79 71.60 74.90 3.30 2.517 25.908 2.964 Tinago
BDDH-07-80 3.45 10.45 7.00 1.156 104.414 2.959 Tinago With a
zone with
7.046 g/t
BDDH-07-80 12.45 13.90 1.45 1.06 42.40 1.79 Tinago
BDDH-07-80 16.20 17.20 1.00 1.17 38.96 1.84 Tinago
BDDH-07-81 34.60 38.90 4.30 0.26 45.272 1.042 Tinago With a
zone with
3.24 g/t
BDDH-07-82 18.58 29.95 11.37 0.946 47.40 1.765 Tinago
BDDH-07-82 33.45 35.80 2.35 0.923 14.379 1.172 Tinago
BDDH-07-82 45.35 50.20 4.85 0.706 24.209 1.125 Tinago
BDDH-07-83 57.3 57.6 0.3 0.76 35.54 1.374 Tinago
BDDH-07-84 No Significant Intercept Tinago
BDDH-07-85 55.60 60.70 5.10 1.562 105.219 3.380 Miswi
BDDH-07-86 41.00 53.60 12.60 2.788 101.917 4.549 Tinago
BDDH-07-87 20.35 31.25 10.90 0.797 13.475 1.030 Tinago
BDDH-07-88 79.65 98.20 11.30 1.633 58.298 2.640 Tinago
BDDH-07-89 60.65 62.90 2.25 2.237 86.886 3.737 Miswi
BDDH-07-89 83.10 84.97 1.87 7.108 79.990 8.490 Miswi
BDDH-07-90 76.07 84.30 8.23 1.028 28.198 1.515 Tinago
BDDH-07-91 28.90 32.05 3.15 1.887 59.114 2.908 Tinago
BDDH-07-92 53.00 58.35 5.35 1.141 15.856 1.415 Miswi
BDDH-07-92 143.08 145.05 1.97 1.141 17.546 1.444 Miswi
BDDH-07-93 25.45 27.80 1.35 0.700 45.274 1.482 Miswi
BDDH-07-94 28.60 31.00 2.4 1.401 35.736 2.018 Tinago
For the purpose of calculating gold equivalent values a gold price of US$ 550 per oz and silver US$ 9.50 per oz were used. Au and Ag equivalent calculations reflect gross metal content and have not been adjusted for metallurgical recoveries. True widths are approximately 85% of the reported lengths.

A technical report (prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101")) setting out additional details relating to the prior sampling program at Balabag was filed (on SEDAR) with certain securities regulatory authorities in Canada on September 27, 2005. Additional information concerning the geology, mineral occurrences and nature of mineralization found at Balabag is also set out in the September 27, 2005 report.

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 since the passage of the Philippine Mining Act of 1995) began mining and milling operations in mid-2004, producing gold and silver dore through its affiliate TVI Resource Development (Phils.) Ltd. In 2006, TVIRD received a completed NI 43-101 feasibility study on the Canatuan Sulphide project prepared by Norwest Corporation. The report has been filed with certain securities regulatory authorities in Canada and is available at the SEDAR website at www.sedar.com. 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, TVIRD 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 TVIRD'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 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 km2 of land under application in China in the Golden Triangle and in the Tibet A.R.

TVI also has a Drilling Segment consisting of Exploration Drilling Corporation ("EDCO"), a wholly-owned subsidiary of TVI Pacific Inc. based in the Philippines, and Hunan Pacific Drilling ("HPD"), a segment 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 Balabag exploration project. 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. The Canatuan Assay Lab, Philippines, an accredited laboratory, performed the sample preparation and assaying for the current sampling phase (since the beginning of 2007) of the exploration project at Balabag. Gold analysis was by 50 gm fire assay fusion; where gold values were greater than 3 ppm assay values 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 20th sample and certified reference materials were used in every 20 samples. As part of the laboratory's internal QA/QC, TVIRD is routinely submitting duplicate samples to McPhar laboratory of Manila, Philippines, an ISO 9001/2000 accredited laboratory, on average every 20th 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. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, 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 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 the release of a resource estimate and the completion of the scoping study to assess the Tinago-Miswi-Lalab mineralized zone is based upon the timing and results of prior exploration activities at Balabag, timing expectations relating to completion of the next phase of the exploration program at Balabag and the results of that program, prior experiences with scoping studies undertaken in respect of Philippines exploration properties, 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. 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, 2006, which was filed on SEDAR on March 29, 2007 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