TVI Completes Drilling In Zamboanga Gold Project

TVI Pacific Inc. announced Wednesday that its Philippine affiliate, TVI Resource Development (Phils.) Inc. (TVIRD), has completed additional exploration drilling on the Balabag Property located in Zamboanga del Norte province in the southern Philippines.

Information concerning prior results of the drilling program at Balabag was included in the Company’s October 10, 2006 news release. A total of 30 additional drill holes (BDDH 27 to 54) have been completed, with 3 other holes on-going, using a combination of PQ3 (triple tube) and HQ3 (triple tube).

This brings the total number of completed drill holes to 53 with a total aggregate meterage of 6,488 meters as of November 30, 2006. The drilling program has been conducted by Exploration Drilling Corporation, TVI’s wholly-owned subsidiary.

The most recent drilling results are summarized in the Assay Table on the firm's website. Maps indicating hole locations and setting out additional information relating to trenches, tunnels and schematic vein structures are also available at www.tvipacific.com.

“Management of TVI Pacific continues to be encouraged with the results of the drilling program at Balabag,” said TVI CEO Cliff James. “In addition to a multi-vein mineralization system identified by completed elements of our exploration program, new outcrops found further east may indicate extensions to existing vein structures which we expect to follow up on by further drilling and trenching. We expect the current drilling campaign to be completed early in 2007 enabling a comprehensive Scoping Study by mid-2007.”

Interpretation

The Balabag Gold project is centered 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. Data collected to date suggests an en echelon dilational system of sigmoidal veins that are stacked 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 historically have been reported. Such intrusives are often associated with epithermal gold deposits around the Pacific Rim. (Read More)