Gold Fields is a joint venture with mining companies are working on Mindoro Resources mining exploration project in El Paso Hill and Batangas. Mindoro Resources report, the mining company Gold Fields as a partner Mindoro Resources has found a potential gold and copper mines in Batangas. Mindoro Resources reported mining potential of copper with 9.24% 0,02-1,67 grams per metric ton of gold.

Meanwhile, the ore samples from the creek Bangin copper prospects have value 0.53% to 0.90% copper grade and 0,01-0,11 grams of gold per metric ton.

El Paso this project is one of the three areas explored by the Batangas Mindoro Resources under a joint venture with Gold Fields.

In May, Mindoro Resources signed an agreement with Gold Fields, one of the world’s largest gold producer, for the latter to acquire 75% stake in El Paso, Lobo and Talahib porphyry copper-gold project by funding exploration programs and feasibility studies.

Under the agreement, Gold Fields will spend $ 2 million each to explore Talahib, Lobo and El Paso property within one to two years.

In the second phase of the project, Gold Fields will invest $ 8 million for a feasibility study covering the El Paso area.

Last month, Mindoro Resources to start two to three months of exploration and drilling projects in gold and copper properties in the Surigao del Norte, $ 300,000 $ 500,000.

Find More Other News : Gold Mine, Mineral Exploration, mining companies