Philippine Gold Producer

 
 
 

Quick Facts

ASVI finalized the purchaseof the interest of Crew Gold Plc in January 2010

The primary asset of which is the Maco Mine.

The focus of the project is to expand production over the next 12 months from 2500 to more than 3500oz/month Au from the multiple underground ore bodies.

The company is also actively exploring the Cu/Au porphyry potential of the system and has commenced surface drilling of high priority targets in 2010

Apex egg

Maco Mine

Updated Resources

Maco MineThe current global resource for the major 14 known epithermal veins and their splits as of February 2010, is estimated at 585,600 ounces (3,087,000 tonnes at 5.9 g/t Au). This is a 268,000 tonnes increase on the January 2009 estimate with the full 14,000 ounces of production being able to be replaced from continuing mine exploration and development. The resource is comprised of 694,000 tonnes at 6.6 g/t Au in the Measured category, 1,435,000 at 5.9 g/t Au Indicated and 958,000 at 5.5 g/t Inferred. The categorization is deemed within acceptable limits as set forth in the PMRC guidelines.

The above summary was taken from 2010 RESOURCE ESTIMATE OF THE GOLD VEIN DEPOSITS OF MACO MINES February 2010 reviewed for technical correctness by Mr. Tomas D. Malihan, who has been in good standing with professional organizations such as Geological Society of the Philippines and Association of Filipinos for the Advancement of Geological Sciences, Inc., and an accredited Competent Person (CP) of the Philippine Mineral Reporting Code (PMRC). Mr. Malihan, who has extensive experience in epithermal gold vein systems, and who shares the cautious approach adopted by the Geological Staff and confirms the validity and soundness of this estimate. Mr. Malihan is also a 'Qualified Person' within the meaning of Canadian National Instrument 43-101, 'Standards of Disclosure for Mineral Projects'. Mr. Malihan was 'independent' of Crew Gold Corporation and Apex Mining Company Inc. in the context of NI 43-101.