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Located in Basay, Negros Oriental, Huaqiao Project is a 506.0403-hectare porphyry copper mineralization with possible gold and molybdenum credits. With its porphyry mineralization exposed at the surface area, the project is at the mid level of the porphyry system near the upper potassic zone. Midan has conducted reconnaissance mapping and sampling in the area.
Huaqiao Project is located in Sitio Cabung-bongan, Barangay Bongalonan, Basay, Negros Oriental, Philippines, 6km from the former Basay-CDCP mine. It lies on the Southwest Negros Mineral District, a 60km long, 25km wide NW trending belt of exposed batholith known as the Pagatban Intrusive Complex (PIC).
Midan has conducted reconnaissance mapping and sampling in the area. From the 19 random samples collected and analyzed, 10 samples responded anomalous values though 16 of the 19 samples were leached. The best assay results indicated 1.27% Cu and 0.415 g/t Au. In addition, 6 of 19 samples showed anomalous values for molybdenum with peak value of 132ppm. Considering the wide phyllic-argillic alteration associated with sheeted fractures and quart veins/veinlets stockwork, Huaqiao project has the possibility of hosting a sizeable porphyry copper deposit.
Midan will conduct its next-stage exploration upon the release of the exploration permit.
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Midan is a junior mineral development and trading company focused on the acquisition, exploration, and development of mineral properties in the Philippines,
and engaged in the trading of consumer goods.
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