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Thursday, 06/17/2010 8:27:08 AM

Thursday, June 17, 2010 8:27:08 AM

Post# of 1213
Cadan Resources to start testing gold, copper mine
06/17/2010 | 06:22 PM

Cadan Resources Corp., a Canadian mining firm, will start the testing the commercial feasibility of its copper and gold project in Tagpura, Compostela Valley, the Mines and Geosciences Bureau having approved its environmental compliance certificate .

The company is now making final cost estimates for the infrastructure and civil works for the mine to operate, Brett Taylor, Cadan Resources CEO and president, said.

He said that the company is also making final arrangements for sourcing materials and equipment, the engineering require for mine processing and the skilled people for the daily operations.

Six holes for monitoring water quality have been completed, and the company will soon process 100,000 tons of material to test for mineral content.

Cadan Resources is bent on fast tracking its gold, silver and copper projects in the Philippines to take advantage of rising metals prices.

In March, it signed an agreement with REG Mineral Processing Services Pty Ltd. to bring the project to its trial test phase and eventually commercial production.

The firm discovered the Cadan porphyry copper-gold prospect in 2006, the first discovery in Eastern Mindanao in over 20 years.

Previously named Sur American Gold Corp., Cadan Resources is pursuing several projects in Compostela Valley, including the Tagpura-Maangob corridor and the Kalamatan prospect.

Development at its T'Boli Gold Silver Deposit, which contains high-grade gold and silver and porphyry copper and gold, is in progress. —VS, GMANews.TV

Source: http://www.gmanews.tv/story/193740/cadan-resources-to-start-testing-gold-copper-mine

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