Agata ni43 101-dmc090122

790 views

Published on

Published in: Economy & Finance
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
790
On SlideShare
0
From Embeds
0
Number of Embeds
3
Actions
Shares
0
Downloads
16
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Agata ni43 101-dmc090122

  1. 1. 43-101 TECHNICAL REPORT ON THE MINERAL RESOURCE ESTIMATE FOR THE AGATA NORTH NICKEL LATERITE PROJECT OF MINDORO RESOURCES LTD. AGATA PROJECT AGUSAN DEL NORTE PROVINCE, PHILIPPINES FOR MINDORO RESOURCES LIMITED SUITE 104, 17707 – 105 AVENUE, EDMONTON, ALBERTA T5S 1T1 CANADA 22nd January, 2009 DALLAS M. COX, BE (MIN) 52 SOMERVILLE STREET BENDIGO VICTORIA, AUSTRALIA 3550
  2. 2. 43-101 Technical Report on the Mineral Resource Estimate for Agata North Nickel Laterite Project TABLE OF CONTENTS3.0 SUMMARY ................................................................................................................................................ 64.0 INTRODUCTION ....................................................................................................................................... 75.0 RELIANCE ON OTHER EXPERTS .......................................................................................................... 86.0 PROPERTY DESCRIPTION AND LOCATION ....................................................................................... 9 6.1 Location ................................................................................................................................................ 9 6.2 Property Description: .......................................................................................................................... 10 6.2.1 Tenement Type: ..................................................................................................................... 137.0 ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE andPHYSIOGRAPHY ........................................................................................................................................... 14 7.1 Accessibility:....................................................................................................................................... 14 7.2 Climate: ............................................................................................................................................... 16 7.3 Local Resources and Infrastructure:.................................................................................................... 16 7.4 Physiography:...................................................................................................................................... 168.0 HISTORY .................................................................................................................................................. 179.0 GEOLOGICAL SETTING ........................................................................................................................ 18 9.1 Regional Geology ............................................................................................................................... 18 9.2 Local Geology of Agata Project Area ................................................................................................. 19 9.2.1 Greenschist (Cretaceous) ....................................................................................................... 19 9.2.2 Ultramafics (Cretaceous) ....................................................................................................... 19 9.2.3 Limestone (Upper Eocene) .................................................................................................... 21 9.2.4 Andesite and Tuff................................................................................................................... 21 9.2.5 Intrusives (Upper Oligocene to Lower Miocene) .................................................................. 21 9.2.6 Limestone (Lower Miocene) .................................................................................................. 21 9.2.7 Recent Alluvium .................................................................................................................... 21 9.3 Geology of the ANLP Area................................................................................................................. 2210.0 DEPOSIT TYPES ............................................................................................................................... 2211.0 MINERALIZATION .......................................................................................................................... 26 11.1 Agata Nickel Laterite Project .............................................................................................................. 2612.0 EXPLORATION ................................................................................................................................. 29 12.1 MRL Exploration (1997-2000) ........................................................................................................... 31 12.2 MRL Exploration (2004-2006, and 2008) .......................................................................................... 3213.0 DRILLING .......................................................................................................................................... 41 13.1 Exploration Targets: ............................................................................................................................ 41 13.2 Drilling Phases: ................................................................................................................................... 41 13.3 Drilling Contractors: ........................................................................................................................... 42 13.4 Drilling Rates: ..................................................................................................................................... 42 13.5 Drillhole Collars Survey ..................................................................................................................... 44 13.6 Drilling Results ................................................................................................................................... 4414.0 SAMPLING METHOD AND APPROACH ...................................................................................... 46 ii
  3. 3. 43-101 Technical Report on the Mineral Resource Estimate for Agata North Nickel Laterite Project15.0 SAMPLE PREPARATION, SECURITY AND ANALYSES ........................................................... 47 15.1 MRL Protocols .................................................................................................................................... 47 15.1.1 MRL Core Sampling .............................................................................................................. 47 15.1.2 Rechecking of Laboratory Results ......................................................................................... 49 15.2 Laboratory Protocols ........................................................................................................................... 51 15.2.1 McPhar Geoservices (Phil.), Inc. ........................................................................................... 51 15.2.2 Intertek Testing Services Phils., Inc. ...................................................................................... 53 15.3 Results of Internal Check Assays (McPhar and Intertek) ................................................................... 54 15.4 Results of External Check Assays (MRL) .......................................................................................... 56 15.4.1 Nickel Standards .................................................................................................................... 56 15.4.2 Field Duplicates ..................................................................................................................... 58 15.4.3 Coarse Rejects ........................................................................................................................ 60 15.4.4 Pulp Rejects Analyzed by Primary Laboratory...................................................................... 62 15.4.5 Pulp Rejects Analyzed by Umpire Laboratory ...................................................................... 6416.0 DATA VERIFICATION..................................................................................................................... 6617.0 ADJACENT PROPERTIES ............................................................................................................... 67 17.1 Tapian-San Francisco Property: .......................................................................................................... 68 17.1.1 Gold Hill [C5] ........................................................................................................................ 68 17.1.2 Cantikoy (C6)......................................................................................................................... 68 17.1.3 Canaga (C9) ........................................................................................................................... 68 17.1.4 Waterfalls (C1)....................................................................................................................... 69 17.2 Tapian Main Property ......................................................................................................................... 69 17.3 Tapian Extension................................................................................................................................. 70 17.3.1 Bolobolo ................................................................................................................................. 70 17.4 Other Nickel Laterite Prospects: ......................................................................................................... 7018.0 MINERAL PROCESSING AND METALLURGICAL TESTING ................................................... 7119.0 MINERAL RESOURCE ESTIMATE ................................................................................................ 71 19.1 Data Set: .............................................................................................................................................. 71 19.2 Raw Assay Statistics: .......................................................................................................................... 72 19.3 Compositing: ....................................................................................................................................... 73 19.4 Surfaces and Domains:........................................................................................................................ 78 19.5 Data Manipulation: ............................................................................................................................. 80 19.6 Specific Gravity, Bulk Density and Moisture Content: ...................................................................... 80 19.7 Block Modelling and Grade Estimation:............................................................................................. 8120.0 OTHER RELEVANT DATA AND INFORMATION ....................................................................... 8421.0 INTERPRETATION AND CONCLUSIONS .................................................................................... 8422.0 RECOMMENDATIONS .................................................................................................................... 8423.0 REFERENCES.................................................................................................................................... 8624.0 DATE AND SIGNATURES............................................................................................................... 8925.0 ADDITIONAL REQUIREMENTS FOR TECHNICAL REPORTS ON DEVELOPMENTPROPERTIES & PRODUCTION PROPERTIES ........................................................................................... 9126.0 ILLUSTRATIONS.............................................................................................................................. 91  iii
  4. 4. 43-101 Technical Report on the Mineral Resource Estimate for Agata North Nickel Laterite Project LIST OF FIGURESFigure 1:  Philippine Map showing location of MRL projects ............................................................... 9 Figure 2:  MRL Tenements and Projects in the Surigao Mineral District ............................................ 15 Figure 3:  Geologic Map of Surigao Mineral District........................................................................... 20 Figure 4:  Agata Geologic Map ............................................................................................................ 23 Figure 5:  Agata Compilation ............................................................................................................... 25 Figure 6:  Idealized Model of spatial relationship between nickel laterite and porphyry targets. ........ 25 Figure 7:  Compilation Map Showing areas of Mapped Nickel Laterite Mineralization ..................... 27 Figure.8:  Agata Projects Map showing areas of Nickel Laterite Mineralization................................. 29 Figure 9:  Cross section Line 10100N Linegraph. ................................................................................ 30 Figure 10:  Agata Soil (Gold) Map ..................................................................................................... 34 Figure 11:  Agata Soil (Copper) Map ................................................................................................. 35 Figure 12:  Agata Soil (Zinc) Map...................................................................................................... 36 Figure 13:  Agata Rock Geochemistry Map ....................................................................................... 37 Figure 14:  Agata Ground Magnetic Survey Map .............................................................................. 38 Figure 15:  Agata Chargeability @ L=7 ............................................................................................. 39 Figure 16:  Agata Resistivity @ L=7 .................................................................................................. 40 Figure 17:  ANLP Drillhole Location Map ........................................................................................ 43 Figure 18:  Cross Section Line 10100N showing grades and thickness of laterite horizon ............... 45 Figure 19:  Flowchart of Mcphar’s Sample Preparation for Laterite.................................................. 52 Figure 20:  McPhar’s Laterite Analysis Procedure Flowsheet ........................................................... 52 Figure 21:  Intertek’s Sample Preparation Procedure for Laterite ...................................................... 53 Figure 22:  Graphs of Laboratory Internal Recheck Assays ............................................................... 54 Figure 23:  Graphs of Laboratory Internal Split Sample Analysis ..................................................... 55 Figure 24:  Graphs of Nickel Standards.............................................................................................. 57 Figure 25:  Graphs of Field Duplicate Assays .................................................................................... 59 Figure 26:  Graphs of Coarse Duplicate Assays ................................................................................. 61 Figure 27:  Graphs of Pulp Rejects analyzed by Primary Laboratory ................................................ 63 Figure 28:  Graphs of Pulp Rejects Analyzed by Umpire Laboratory ................................................ 65 Figure 29:  Comparison of Independent Checks and MRL Assays .................................................... 67 Figure 30:  Tapian-San Francisco Compilation .................................................................................. 69 Figure 31:  Tapian Main Compilation Map ........................................................................................ 71 Figure 32:  Domain Surfaces and Composite Coding ........................................................................ 79 Figure 33:  Agata North Test Pit Location Map ................................................................................. 81 Figure 34:  Block Model Configuration ............................................................................................. 81 Figure 35:  Block Model Cross Section (N1027590) ......................................................................... 82 Figure 36:  Block Model Classification .............................................................................................. 83  LIST OF TABLESTable 1:  Agata Projects Tenements held by Mindoro: ....................................................................... 10 Table 2:  Original Mining Application Claims under MPSA 134-99-XIII ......................................... 11 Table 3:  Climatological Normals and Extremes 1961-2000 .............................................................. 16 Table 4:  Average Grades of Nickel Laterite Horizons ....................................................................... 29 Table 5:  Drilling Rates ....................................................................................................................... 42 Table 6:  NAMRIA Tie Points Technical Description ........................................................................ 44 Table 7:  Average Grades of Laterite Horizons at Line 10100N......................................................... 44 Table 8:  List of Sampling Intervals .................................................................................................... 46 Table 9:  Core Recovery Percentages.................................................................................................. 47 Table 10:  Numbers of Core, Reference and Recheck Samples Analyzed ............................................ 50 Table 11:  Frequency of Check Sampling per Laterite Zone ................................................................ 51 Table 12:  Frequency of Using Nickel Reference Materials ................................................................. 51  iv
  5. 5. 43-101 Technical Report on the Mineral Resource Estimate for Agata North Nickel Laterite ProjectTable 13:  Relationship of Original and Repeat Analyses..................................................................... 54 Table 14:  Relationship of Field Duplicate and Original Assays .......................................................... 59 Table 15:  Relationship of Coarse Rejects and Original Assays ........................................................... 61 Table 16:  Results of Independent Check on Drill Core Assays ........................................................... 66 Table 17:  Data Set ................................................................................................................................ 72 Table 18:  Drillhole Summary ............................................................................................................... 72 Table 19:  Raw Assay Statistics ............................................................................................................ 73 Table 20:  Compositing Data................................................................................................................. 74 Table 21:  Frequency Distribution Plots Ni% ....................................................................................... 75 Table 22:  Cumulative Probability Plots Ni% ....................................................................................... 76 Table 23:  Limonite Composite Statistics ............................................................................................. 77 Table 24:  Saprolite Composite Statistics.............................................................................................. 78 Table 25:  Domain Coding .................................................................................................................... 79 Table 26:  Specific Gravity Parameters ................................................................................................. 80 Table 27:  Mineral Resource Classification .......................................................................................... 83 Table 28:  Mineral Resource Estimation by Classification ................................................................... 84 Table 29:  Summary of Resource: Combined Limonite and Saprolite.................................................. 85  LIST OF APPENDICESAppendix 1: Notice of Relinquishment of portion of MPSA 134-99-XIIIAppendix 2: Certified Technical Descriptions of NAMRIA StationsAppendix 3: Cross Sections Showing Grades and Thickness of Laterite HorizonsAppendix 4: ANLP QAQC ProceduresNote: The cover photo is a snapshot of the GoogleEarth image of the Agata Projects area. v
  6. 6. 43-101 Technical Report on the Mineral Resource Estimate for Agata North Nickel Laterite Project3.0 SUMMARYThis report was prepared at the request of Mindoro Resources Ltd. [Mindoro]. This is the third mineralresource estimate completed for the Agata North Laterite Project (ANLP). ANLP is located about 47km north-northwest of Butuan City and 73 km southwest of Surigao City. It lies within themunicipalities of Tubay, Santiago; and Jabonga, all in the province of Agusan del Norte, Philippines.This report discloses the updated results of the mineral resource estimation which were based on severalphases of drilling which were completed in late 2008. It also describes the exploration activities carriedout by MRL Gold Phils. Inc. (MRL) on its Agata Project. MRL is a wholly-owned subsidiary ofMindoro.The ANLP is one of the projects located within the overall Agata Project, which is covered by theMineral Production Sharing Agreement (MPSA) Contract Area held by Minimax Mineral ExplorationCorp. (Minimax) denominated as MPSA-134-99-XIII and approved by the Department of Environmentand Natural Resources (DENR) on May 26, 1999.The project was explored under a Memorandum of Agreement (MOA) between Mindoro and MinimaxMineral Exploration Corporation (Minimax). Mindoro subsequently executed a Deed of Assignmentwhereby it assigned all its rights under the MOA to MRL. By virtue of this, MRL has earned a 75%interest in all the Surigao projects (except the Mat-I Project) including the Agata Project. Minimax hasalso granted MRL an option to acquire an additional 25% direct and indirect participating interest in anyproject within the Agata Project which is brought to the feasibility stage.The Agata Project is situated along the southern part of the uplifted and fault-bounded Western Rangeon the northern end of the east Mindanao Ridge. Greenschists; ultramafics; limestones; andesite andtuff; younger limestones; intrusives; and alluvium underlie the area. The widespread occurrence ofultramafics and serpentinized ultramafics are a favorable environment for the development of nickellaterites along the broad ridges characterized by peneplaned topography.The laterite profile in the ANLP consists of the ferruginous laterite, limonite and saprolite zones orhorizons, and the saprolitic rock, from surface to increasing depth. The limonite zone ischaracteristically iron oxide-rich, where the predominant minerals are hematite, goethite and clays, andwith moderate nickel content (over 1%), while the saprolite zone has much less iron-oxide, ismagnesium-rich, and has a slightly higher nickel content than the limonite horizon.This report is based on the data that were produced and compiled by MRL. Data verification performedby the author found no discrepancies. Hence the database is considered adequate to meet industrystandards to estimate mineral resources.The assay data were collected from drilling activities in the area from February 2007 to September2008, including the BHP Billiton drilling results from a program in 2006. A total of 408 drill holes,comprising 7300.83 meters of diamond drill core and 7271 assay samples, were used for the estimate.The MineSight ® IDW Interpolation procedure was used to interpolate nickel, cobalt, iron andphosphorous grades. Inverse Distance Weighting (IDW) Power 2 was used for grade estimation. Thismethod is considered acceptable given the tight constraints applied to limonite and saprolitedomaining. Grades were interpolated in limonite and saprolite domains only. Raw Assay data wereanalyzed above a cut-off grade of 0.5 Ni% for the limonite, and 0.8 Ni% for the saprolite.Generally, nickel grades in the limonite horizon, increase and peak at a point about the base of thelimonite. Nickel grades remain respectively high and thereafter diminish as the mineralization gradesinto basement/bedrock. Unfolding to this surface ensures that nickel grades in both limonite and 6
  7. 7. 43-101 Technical Report on the Mineral Resource Estimate for Agata North Nickel Laterite Projectsaprolite are preferentially honored in the mid-section of the laterite profile, which represents a greaterproportion (50+%) of the body.Resource classification methodology for limonite was based on the spacing as denoted in Table 27.Planar and elevation search ellipses for saprolite were reduced by 1/2 to 1/3 of the limonite searchellipse parameters given the undulating saprolite/bedrock contact and laterally more erratic nature ofmetal grades in the saprolite domain.The estimate for combined Measured and Indicated Resources is 13.17 million wet metric tonnes(WMT), or 9.26 million dry metric tonnes (DMT), grading 1.13 percent nickel, 0.078 percent cobalt and30.93 percent iron. In addition, the Inferred Resource estimate is 18.1 million WMT, or 12.7 millionDMT, grading 1.13 percent nickel, 0.083 percent cobalt and 31.44 percent iron.Mineral resources which are not mineral reserves do not have demonstrated economic viability. The tonnage andgrades above have been rounded to the nearest 2nd or 3rd decimal, which may have resulted in minordiscrepancies.The author recommends further metallurgical testwork to confirm the optimal leaching technology forprocessing the nickel laterite resource. Further variographic study is recommended for possible upsidepotential to increase indicated and inferred resource category tonnages. A preliminary scoping study isrecommended for ANLP, including continuous pilot leach testing to prove the concept and to derive theoptimal processing flowsheet, and sufficient engineering to obtain operating and capital costs to plus orminus 35%.4.0 INTRODUCTIONThis technical report was prepared at the request of Mr. J.A. Climie, CEO of Mindoro of Canada [TSX-Venture Exchange] and CEO and President of MRL, a wholly-owned subsidiary of Mindoro. This is thethird mineral resource estimate for the ANLP located within the Agata Projects MPSA in Agusan delNorte, Philippines (Figures 1 & 2). The first two 43-101 reports were filed on June 10, 2008 andSeptember 19, 2008, both written by this author, a qualified person as defined by National Instrument43-101.It is the author’s understanding that the drilling program was conducted to define the total globalresource potential, which will provide the basis to pursue a study on the optimal technology forenhanced value, local processing of its nickel laterite resource, and, later, for a scoping study.The project was explored under a Memorandum of Agreement between Mindoro and Minimax signedon January 19, 1997. On June 27, 1997, Mindoro executed a Deed of Assignment whereby it assignedall its rights under the MOA to MRL. By virtue of this, MRL has earned a 75% interest in all theSurigao projects (except the Mat-I Project) including the Agata Project. Minimax has also granted MRLan option to acquire additional 25% direct and indirect participating interest in such projects as theAgata Projects.The Agata Projects comprise various projects and prospects, namely, the ANLP; the Agata SouthLaterite Project [ASLP]; the North Porphyry Prospect; the South Porphyry Prospect; the AssmicorPorphyry and Gold Prospects; the American Tunnels Porphyry and Gold Prospects; the Limestone GoldProspect; and a host of other gold and copper-gold prospects, which have not been evaluated in detail. 7
  8. 8. 43-101 Technical Report on the Mineral Resource Estimate for Agata North Nickel Laterite ProjectThe report describes the geology and mineralization of the project area and discusses the results of theresource delineation drilling program on the ANLP. It also assesses historical data and discusses theresults of the exploration programs carried out to date by MRL over the general Agata Project itself.All of the drilling and assay results generated by MRL from February 2007 to September 2008,including the BHP Billiton drilling results in 2006 are the basis for this final resource estimate. Thisreport is based on information known to the author as of November 2008.This document is compiled from technical reports written by MRL, from reports held by the Mines andGeosciences Bureau of the Philippines (MGB), from published technical data, and from observationsmade by the MRL geologists and the author. All sources of data used in this report are cited herein andare listed in Item 23.All work of MRL at the Agata Projects was carried out under the direct and close supervision of JamesA. Climie, P. Geol., also a qualified person, who carried out frequent and extensive site visits.The author visited the project site in July 2007, January 2008 and November 2008. During these visits,MRL geologists and/or mining engineers were present to assist and discuss protocols, observations,results and interpretations with the author/consultant. Likewise, various meetings were held off-site tobroaden the discussions and consultations.The ANLP is located about 47 km north-northwest of Butuan City or 73 km southwest of Surigao City(Figure 2). It is within the villages of Lawigan and Tinigbasan, municipality of Tubay, E. Morgado andLa Paz, municipality of Santiago; and Colorado municipality of Jabonga, all in the province of Agusandel Norte.This report is prepared in compliance to the Canadian National Instrument 43-101. The NI 43-101, NI43-101F1 and Companion Policy 43-101CP, the Standards of Disclosure for Mineral Projects.5.0 RELIANCE ON OTHER EXPERTSThe technical data were provided by Mindoro and a random portion was verified by the author forlogical errors and data entry errors. Other data verification procedures were performed and arediscussed in Item 16. The author believes that the datasets are satisfactory, based on his knowledge ofthe area and the random checks he performed. From the assay with lithology, collar survey, andtopographic survey datasets, the author generated a composited dataset with laterite horizonclassification based on mineral/chemical contents. This was then used in creating the sections andsurfaces.The status of MPSA-134-99-XIII (Agata) and EP-XII-021 (Agata-Bautista) were checked by the authoron the Mines and Geosciences Bureau (MGB) website and was found to be among the approvedcontracts (www.mgb.gov.ph/tenements). In addition, a visit to the MGB Central Office-MiningTenements Management Division was carried out for further checking. The author conferred with theChief of Systems Audit and Development Section, Mr. Larry M. Heradez and FTAA EvaluationSection, Mr. Levy G. Teodoro regarding the MPSA and the EP, respectively. Both attested to thevalidity and good standing of the tenements as supported by the original documents of the Contracts.The MRL tenements are discussed in Item 6 of this report.As regards the specifics pertaining to Memorandum of Agreements, ownership, and/or royaltyagreements between Mindoro, Minimax, Estrella Bautista, the author used the data supplied by Mindorowith supporting legal documents such as the Notice of Relinquishment of portion of MPSA 134-99-XIII 8
  9. 9. 43-101 Technical Report on the Mineral Resource Estimate for Agata North Nickel Laterite Project(Appendix 1), and referred to previous company reports of MRL. These are likewise discussed in Item 6of this report.Figure 1: Philippine Map showing location of MRL projects.6.0 PROPERTY DESCRIPTION AND LOCATION6.1 Location:The Agata Projects are located within the northern part of Agusan del Norte province in NortheasternMindanao, Republic of the Philippines. It lies within the Western Range approximately 10 kilometerssouth of Lake Mainit (Figures 1-2). The Agata Project falls within the political jurisdiction of themunicipalities of Tubay, Santiago and Jabonga. The MPSA Contract Area, encompassing the AgataProjects, is bounded by geographical coordinates 9010’30” and 9019’30” north latitudes and 125029’30”to 125033’30” east longitudes.The ANLP is located in barangays Lawigan and Tinigbasan, municipality of Tubay, barangays E.Morgado (formerly Agata) and La Paz, municipality of Santiago, and barangay Colorado, municipalityof Jabonga, all in the province of Agusan del Norte. It lies about 73 km southwest of Surigao City and47 km north-northwest of Butuan City. The majority of MRL’s exploration activities on the project areaare located in barangays Lawigan and E. Morgado.The ASLP is located in barangays Binuangan, Tagpangahoy, and Tinigbasan, municipality of Tubay. Itis under a joint venture agreement with Delta Earthmoving, Inc. (Delta). 9
  10. 10. 43-101 Technical Report on the Mineral Resource Estimate for Agata North Nickel Laterite ProjectThe locations of the known mineralized zones on the Agata MPSA relative to the property boundariesare illustrated in Figure 5 and 7. The ANLP mineralized zone, as defined by drilling and mapping todate, lies entirely within the Agata MPSA. Other known nickel laterite zones exist near the southernboundary of the property. Artisanal copper and gold mining is active in the Agata MPSA area and areshown in Figure 5. These are outside the delineated nickel laterite mineralized zones.There are no existing mineral reserves within or near the property boundaries. The nearest mineinfrastructures, including settling ponds, are those of the SRMI Mine located in between the parcels ofthe Agata MPSA at the southern boundaries (Figure 5). The National Highway runs parallel to thelength of the Agata MPSA, just outside the eastern boundary. In addition, a farm-to-market roadtransects the northern portion of the MPSA area, near the Tubay River.6.2 Property Description:The ANLP area is part of the Agata Projects and is covered by the approved MPSA of Minimaxdenominated as MPSA 134-99-XIII, which is comprised of 66 blocks covering an area of 4,995 hectares(ha) (Figure 2). To the southeast of the ANLP area, and surrounded by the Minimax MPSA, is theEstrella Bautista Exploration Permit (EP) Area denominated as EP 00021-XIII, covering 84.39 ha. Thislone claim block is also part of MRL’s Agata Projects and was acquired through an Agreement toExplore, Develop and Operate Mineral Property. The MPSA Contract and the EP areas are locatedwithin the Western Range in the northern part of Agusan del Norte province.The MPSA was approved on May 26, 1999 by the DENR and was registered on June 17, 1999 with theMGB Regional Office No. XIII in Surigao City. A MOA was signed by Mindoro and Minimax onJanuary 19, 1997. Mindoro assigned all its rights in the MOA to MRL on June 27, 1997. The MOAgranted MRL the exclusive and irrevocable right to earn the Option Interests in the project. At present,MRL has earned a 75% interests in the Agata Tapian Main, and Tapian San Francisco and theExtension Projects (tenements acquired after the finalization of the MOA) in the Surigao MineralDistrict. It also has a further option to acquire an additional 25% direct and indirect participatinginterest. The 2nd exploration period for the MPSA was renewed on July 23, 2004 to July 22, 2006 whilethe 3rd exploration period was granted on February 7, 2007 to February 6, 2009. The Agata-Bautista-EPwas approved on October 2, 2006.Both tenements are in good standing. Since the first Exploration Period in 1999, submission of allquarterly and annual accomplishment reports, and quarterly drilling reports; and the payment of themandated occupation fees were accomplished by MRL, on behalf of Minimax. The same was done forthe Agata-Bautista EP. Table 1: Agata Projects Tenements held by Mindoro:TENEMENT ID AGATA AGATA-BAUTISTAPERMIT NUMBER MPSA-134-99-XIII EP-21-XIIIAPPLICATION NUMBER APSA-XIII-007 EPA-00080-XIIIDATE FILED (MGB XIII) 4-Jul-97DATE APPROVED 26-May-99 2-Oct-06PERMITTEE/ APPLICANT MINIMAX BAUTISTA Jabonga, Santiago, & Tubay, Agusan delLOCATION Santiago, Agusan del Norte NorteAREA (ha**) 4,995.00 84.39 st - 3rd Exploration Period approved 7-Feb-07 1 renewal of EP filed on 29-Sep-08STATUS -ECC grantedMPSA - Mineral Production Sharing Agreement EP - Exploration PermitAPSA - Application for Mineral Production Sharing Agreement EPA - Exploration Permit Application 10
  11. 11. 43-101 Technical Report on the Mineral Resource Estimate for Agata North Nickel Laterite ProjectThe boundaries of these tenements were located by the claimowners on a topographic map andsubmitted to the MGB-DENR for approval. A tenement boundary survey approved by the MGB will berequired through an “Order to Survey” once a mining project feasibility study has been submitted by theproponent. The coordinates used by Mindoro are those indicated in the MPSA document issued by theMGB-DENR. The surveyed drillhole collars are tied to a local grid, which in turn is tied to NationalMapping and Resource Information Authority (NAMRIA) satellite/GPS points and benchmarks.The original area of the MPSA was 7,679 ha comprising 99 blocks, but 32 claim blocks with anapproximate area of 2,700 ha were later relinquished. This leaves 4,995 ha of the approved Contractarea as of May 18, 2000. (Appendix 1) The details of the original 99 claim blocks are listed below: Table 2: Original Mining Application Claims under MPSA 134-99-XIII Name of Mining Application Claims Name of Locator Lingling 1-2 Leonor Cocon, Jr. Titus 1-3 Ruperth Villamucho Titus 10-11 Leo Deiparine Titus 14, 16 Edsel Abrasaldo Guiah and Sheryl Marenda Cabiling Noah 52 Galactica Mineral Exploration Corp. Japeth 10, 12, 15, 19 Galactica Mineral Exploration Corp. Japth 1, 3, and Jabez; Noah 53, 55, 57, 58 Galactica Mineral Exploration Corp. Noah 54 Lakeshore Mineral Exploration Corp. Titus 20, 26, 27 Resource Mineral Exploration Corp. Titus 82 Solar Mineral Exploration Corp. Banner 1-9; 12-13; 16-19; 22-29; 31; 33; 38; 40-41; 43; 44-B; 46; Affluent Mineral Exploration Corp. 47; 49; 51; 53; 55; 57; 59 Additional Minimax blocks Minimax Mineral Exploration Corp.On April 12, 1986, Leonor Cocon, Jr. executed a Special Power of Attorney in favor of JessieJuansengfue involving his two (2) mining claims in Agata. This legal instrument was registered with theMGB-Regional Office No. XIII on March 10, 1987. On July 31, 1987, Jessie Juansengfue signed thetwo (2) mining claims with Minimax through a Royalty Agreement with Option to Purchase. This wasregistered with the MGB-Regional Office No. XIII on August 5, 1987. On April 17, 1997, thisagreement was amended via an Amendment to Royalty Agreement, which was registered with theMGB-Regional Office No. XIII on June 4, 1997. The Royalty Agreement was further amended throughan Amendment to Royalty Agreement on November 23, 2005, which was subsequently registered withthe MGB-XIII. The royalties equivalent to 2% of its annual operation based on “Gross Value, FOB,Philippine Ports” shall be paid to Juansengfue upon commencement of commercial production of goldand other precious metals and minerals.On May 15, 1987, Marenda Cabiling executed and registered with the MGB-Regional Office a SpecialPower of Attorney in favor of Rod Manigos regarding her two (2) mining claims in Agata. RodManigos in turn, signed the subject mining claims with Minimax via a Royalty Agreement with Optionto Purchase on August 4, 1987. The Agreement was registered with the MGB-Regional Office No. XIII[MGB-XIII] on August 5, 1987. The Royalty Agreement was amended via an Amendment to RoyaltyAgreement on April 17, 1997 and registered with the MGB-XIII on June 4, 1997. It was furtheramended on May 18, 2006 and subsequently registered with MGB-XIII. The royalties equivalent to 2%of its annual operation based on “Gross Value, FOB, Philippine Ports” shall be paid to Cabiling uponcommencement of commercial production of gold and other precious metals and minerals. 11
  12. 12. 43-101 Technical Report on the Mineral Resource Estimate for Agata North Nickel Laterite ProjectOn December 4, 1987, Ruperth Villamucho, Leo Deiparine, and Edsel Abrasaldo executed a SpecialPower of Attorney regarding their mining claims in favor of Jose de Guzman. This was registered withthe MGB-XIII on December 7, 1987. On February 7, 1997, Ruperth Villamucho, Leo Deiparine, andEdsel Abrasaldo, through their Attorney-in-Fact, executed a Deed of Assignment for their miningclaims in favor of Minimax. This was registered with the MGB-XIII on February 28, 1997.On February 7, 1997, Resource Mineral Exploration Corporation executed a Deed of Assignment overits mining claims in favor of Minimax. On February 12, 1997, Galactica Mineral ExplorationCorporation deeded the mining claims Japeth 10, 12, 15 and 19 via a Deed of Assigment in favor ofMinimax. Likewise, on February 14, 1997, Solar Mineral Exploration Corporation made a Deed ofAssignment regarding its mining claims in favor of Minimax. These Deeds were registered with theMGB-XIII on February 28, 1997.On August 18, 1997, Lakeshore Mineral Exploration Corporation, Affluent Mineral ExplorationCorporation and Galactica Mineral Exploration Corporation (for the mining claims “Japeth 1,3”,“Jabez”, “Noah 52, 55, 57, and 58”) deeded their mining claims to Minimax. The Deed of Assignmentwas registered with MGB-XIII on October 3, 1997.During the processing of the Minimax MPSA Application, Minimax was able to expand the areas itoriginally applied for. The additional tenement blocks automatically became part of the MRL-MinimaxMOA.On May 26, 1999, the Secretary of the DENR signed the Minimax MPSA application covering 7,679 hacomprising 99 claim blocks. The approved MPSA was registered on June 17, 1999.On May 18, 2000, 32 claim blocks with an area of approximately 2,700 ha were relinquished byMinimax, leaving 4,995 ha of the approved Contract Area (Appendix 1).On September 29, 2000, immediately after the Boyongan Porphyry Copper discovery, Minimax’saffiliate, Apical Mining Corporation filed an MPSA application covering 7,764 ha of ground adjacent to(north, southeast, and south of) Agata Projects. This property is known as the Agata Extension (Figure2). The application was later converted to EPA and is in the advanced stage of processing by MGB-XIII.On October 26, 2004, MRL Gold was able to acquire, via an Agreement to Explore, Develop andOperate Mineral Property, one claim block of approximately 84.39 ha within the Agata Projects knownas the Bautista Claim. The Agreement was signed between Estrella Bautista, claimowner, and MRL andwas registered with MGB-XIII on November 4, 2004. Royalties equivalent to 1.5% of Net SmelterReturns shall be paid to the claimowner for the commercial exploitation of the property. The MPSAapplication of Bautista was converted into an EP application; the EP was approved on October 2, 2006and is known as EP-00021-XIII.With the issuance of an MPSA covering the Agata Projects, the landuse classification of the area istherefore for mineral production. Those outside the Contract area are essentially classified astimberland. There are no dwellers within the ANLP and ASLP drilling areas. The author is not aware ofany environmental liabilities to which the property is subject other than those that fall under thePhilippine Mining Act of 1995.On May 20, 2008, an Environmental Compliance Certificate (ECC) was issued by the DENR to MRLfor nickel laterite mineral production covering 600 ha within the Agata MPSA Contract area, includingboth the Agata North and Agata South projects. 12
  13. 13. 43-101 Technical Report on the Mineral Resource Estimate for Agata North Nickel Laterite ProjectThe barangay (village) centers where the projects are located, are mostly populated by Christians. Thereare some indigenous peoples (IP) that live in the surrounding areas within and outside the MinimaxMPSA Contract area. Sitio Coro, Bgy. Colorado is almost entirely populated by IPs while other IPgroups have merged with the non-IP inhabitants in barangays E. Morgado and La Paz, municipality ofSantiago, and Bgy. Tagmamarkay, Tubay.MRL, through the assistance of the National Commission on Indigenous Peoples (NCIP) - RegionalOffice No. XIII, has recently signed a Memorandum of Agreement with the IPs living within the MPSAContract Area albeit the latter have no Certificate of Ancestral Domains Claim (CADC) nor Certificateof Ancestral Domains Title (CADT) within the Contract area. The MOA calls for a 1% royalty on grosssales of mineral products to be given to the IPs as provided for in the Indigenous Peoples Reform Act(IPRA) of the Republic of the Philippines.Areas of nickel laterite mineralization have been mapped at a regional scale in the ASLP located in thesouthern part of the Agata Projects and is the subject of a Mining Services Agreement between MRL,Minimax and Delta. No drilling or sampling has been carried out in this area prior to the negotiationswith Delta. The southernmost area of the ASLP is 1 to 2 km north of the operating nickel laterite mineof SR Metals Inc., just to the south of the Agata Projects. Delta, at its sole cost and risk, may carry outexploration of the ASLP and may select an area of up to 250 ha to advance to production if warranted.6.2.1 Tenement Type:An MPSA is a form of Mineral Agreement, for which the government grants the contractor theexclusive right to conduct mining operations within, but not title over, the contract area during a definedperiod. Under this agreement, the Government shares in the production of the Contractor, whether inkind or in value, as owner of the minerals. The total government share in a mineral production sharingagreement shall be the excise tax on mineral products. The excise tax is 2% of the actual market valueof the gross output at the time of extraction. In return, the Contractor shall provide the necessaryfinancing, technology, management and personnel for the mining project. Allowable mining operationsinclude exploration, development and utilization of mineral resources.The approved MPSA has a term not exceeding 25 years from the date of the execution thereof andrenewable for another term not exceeding 25 years. It gives the right to the Contractor to explore theMPSA area for a period of 2 years renewable for like periods but not to exceed a total term of 8 years,subject to annual review by the Director to evaluate compliance with the terms and conditions of theMPSA.The Contractor is required to strictly comply with the approved Exploration and Environmental WorkPrograms together with their corresponding budgets. These work programs are prepared by theContractor as requirements in securing the renewal of the Exploration Period within the MPSA term.The Contractor is likewise required to submit quarterly and annual accomplishment reports under oathon all activities conducted in the Contract Area. All the reports submitted to the Bureau shall be subjectto confidentiality clause of the MPSA. The Contractor is further required to pay at the same date everyyear reckoned from the date of the first payment, to the concerned Municipality an occupation fee overthe Contract Area amounting to PhP 75.00 per hectare. If the fee is not paid on the date specified, theContractor shall pay a surcharge of 25% of the amount due in addition to the occupation fees.If the results of exploration reveal the presence of mineral deposits economically and technicallyfeasible for mining operations, the Contractor, during the exploration period, shall submit to theRegional Director, copy furnished the Director, a Declaration of Mining Project Feasibility togetherwith a Mining Project Feasibility Study, a Three Year Development and Construction or CommercialOperation Work Program, a complete geologic report of the area and an Environmental Compliance 13
  14. 14. 43-101 Technical Report on the Mineral Resource Estimate for Agata North Nickel Laterite ProjectCertificate (ECC). Failure of the Contractor to submit a Declaration of Mining Project Feasibility duringthe Exploration Period shall be considered a substantial breach of the MPSA.Once the ECC is secured, the Contractor shall complete the development of the mine includingconstruction of production facilities within 36 months from the submission of the Declaration of MiningProject Feasibility, subject to such extension based on justifiable reasons as the Secretary may approve,upon the recommendation of the Regional Director, through the MGB Director.Any portion of the contract area, which shall not be utilized for mining operations, shall be relinquishedto the Government. The Contractor shall also show proof of its financial and technical competence inmining operations and environmental management.On February 2005, the Philippine Supreme Court decided with finality allowing for the 100% foreignownership of the mineral tenement under the Financial and Technical Assistance Agreement (FTAA).An Exploration Permit (EP) is an initial mode of entry in mineral exploration allowing a QualifiedPerson to undertake exploration activities for mineral resources in certain areas open to mining in thecountry. Any corporation may be allowed a maximum area of 32,400 ha in the entire country. The termof an EP is for a period of two (2) years from date of its issuance, renewable for like periods but not toexceed a total term of four (4) years for nonmetallic mineral exploration or six (6) years for metallicmineral exploration. Renewal of the Permit is allowed if the Permittee has complied with all the termsand conditions of the Permit and he/she/it has not been found guilty of violation of any provision of“The Philippine Mining Act of 1995” and its implementing rules and regulations. Likewise, the conductof a feasibility study and filing of the declaration of mining project feasibility are undertaken during theterm of the Permit.7.0 ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE andPHYSIOGRAPHY7.1 Accessibility:The ANLP site is accessible by any land vehicle from either Surigao City or Butuan City thru the Pan-Philippine Highway. At the highway junction at Barangay Bangonay, Jabonga, access is through partlycemented, gravel-paved Jabonga Municipal road for approximately 4 km, then for another 6 km thru afarm-to-market road to Barangay E. Morgado in the municipality of Santiago (Figure 2). From Manila,daily flights are available going to Butuan City. Moreover, commercial sea transport is available en-route to Surigao City and Nasipit (west of Butuan City) ports.An alternate route is available from the Pan-Philippine Highway via the Municipality of Santiago. FromSantiago town proper, barangay E. Morgado can be accessed through a 1.5 km municipal-barangay roadgoing to Bgy. La Paz, thence by pump boats. The travel time is about 15 minutes via the Tubay River.The northern portion of the ANLP can be reached from Bgy. E. Morgado by hiking for about 1 houralong existing foot trails (approximately 1.5 km). 14
  15. 15. 43-101 Technical Report on the Mineral Resource Estimate for Agata North Nickel Laterite ProjectFigure 2: MRL Tenements and Projects in the Surigao Mineral District 15
  16. 16. 43-101 Technical Report on the Mineral Resource Estimate for Agata North Nickel Laterite Project7.2 Climate:The climate of Jabonga, Santiago and Tubay municipalities where the project area is situated belongs toType II on the PAGASA Modified Coronas Classification. It has no dry season with very pronouncedrainfall months. Climatological Normals from 1981-2000 show that peak rainfall months are fromOctober to February. The highest mean monthly rainfall is 308 mm during January and the lowest meanmonthly rainfall is 104.8 mm during May while mean annual rainfall is 2027 mm. Table 3: Climatological Normals and Extremes 1961-2000 RAINFALL TEMPERATURE WIND CLOUD RHMONTH AMOUNT # OF Dry Wet Dew AMT MAX MIN MEAN % DIR SPD (mm) RD Bulb Bulb Pt. (okta)Jan 308.0 21 30.1 22 26.1 25.7 24.2 23.6 88 NW 1 6Feb 211.8 15 30.8 22 26.4 26.0 24.2 23.5 86 NW 1 6Mar 149.8 16 31.8 22.4 27.1 25.7 24.5 23.7 83 NW 1 5Apr 107.2 12 33.1 23.1 28.1 27.7 25.2 24.3 82 ESE 1 5May 104.8 14 33.8 23.8 28.8 28.3 25.8 25.0 82 ESE 1 6Jun 135.1 16 33.0 23.6 28.3 27.8 25.5 24.7 83 ESE 1 6Jul 157.5 16 32.5 23.3 27.9 27.5 25.3 24.5 84 NW 1 6Aug 105.1 12 32.8 23.5 28.1 27.8 25.4 24.6 82 ESE 2 6Sep 140.2 14 32.8 23.3 28.1 27.7 25.4 24.6 83 NW 2 6Oct 195.3 17 32.3 23.2 27.8 27.4 25.3 24.6 84 NW 1 6Nov 193.7 18 31.6 22.9 27.2 26.9 25.1 24.5 86 NW 1 6Dec 218.4 19 30.8 22.5 26.7 26.3 24.7 24.1 88 NW 1 6 Annual 2026.9 190 32.1 23.0 27.6 27.1 25.1 24.3 84 NW 1 6Based on Butuan City Synoptic Station7.3 Local Resources and Infrastructure:A farm-to-market road was constructed by MRL in 2005 and is currently servicing three (3) barangaysin two (2) towns. This road was turned-over to the local government. Road maintenance is beingsupported by the company.The drill site and the whole plateau is a fern-dominated (bracken heath) open grassland sparselyinterspersed with forest tree seedlings and saplings of planted species. A few secondary growth treesline the streams along the lower slopes. The floodplain of Tubay River is planted with agricultural cropssuch as rice, corn, banana, etc.7.4 Physiography:Most part of the Agata Projects spans the NNW-SSE-trending Western Range, which towers over theMindanao Sea to the west and Tubay River to the east, which drains southward from Lake Mainit. Thewestern part of the area is characterized by a rugged terrain with a maximum elevation of 528 metersabove sea level (masl). This part is characterized by steep slopes and deeply-incised valleys. The easternportion, on the other hand, is part of the floodplain of Tubay River, which is generally flat and low-lying, and has an elevation of less than 30 masl.Within the project area, steep to very steep slopes are incised by gullies and ravines while the centralportion is characterized by broad ridges dissected in the west section by a matured valley formationexhibiting gentle to moderate slopes. Elevations range from 200 to 320 masl extending similartopographic expressions going to the south. In the northern expanse, it abruptly changes to rugged 16
  17. 17. 43-101 Technical Report on the Mineral Resource Estimate for Agata North Nickel Laterite Projectterrain having a very steep slope. Nickeliferrous laterite is widespread on the ridges stretching from thecentral part going to the south.Based on the initial evaluation of the area, the development of laterite mineralization is extensive, butnot limited to the broad ridges and is present on gently-moderately sloping topography. The topographyover the principal laterite development together with the position of the area of detailed drilling isshown in the photo below.Photo 1: Panoramic view of ANLP showing the main area of laterite development.8.0 HISTORYThe earliest recognized work done within the area is mostly from government-related projectsincluding: • The Regional Geological Reconnaissance of Northern Agusan reported the presence of gold claims in the region (Teves et al. 1951). They mapped sedimentary rocks (limestone, shale and sandstone) of Eocene to mid-Tertiary age. • Geologists from the former Bureau of Mines and Geosciences Regional Office No. X (BMG-X) in Surigao documented the results of regional mapping in the Jagupit Quadrangle within coordinates 125°29´E to 125°45´ east longitude and 9°10´ to 9°20´ north latitudes. They described the geology of the Western Range as a belt of pre-Tertiary metasediments, metavolcanics, marbleized limestone, sporadic schist and phyllite and Neogene ultramafic complex. (Madrona, 1979) This work defined the principal volcano-sedimentary and structural framework of the region and recognized the allochtonous nature of two areas of ultramafic rocks that comprise serpentinized peridotite in the Western Range, one between the Asiga and Puya rivers in the Agata project area and the other west of Jagupit. These were mapped by Madrona (1979) as blocks thrust westward, or injected into the metavolcanics between fault slices. • The United Nations Development Program (UNDP, 1982) conducted regional geological mapping at 1:50,000 scale and collected stream sediment samples over Northern Agusan. The UNDP report of 1984 described the geological evolution of this region and included a detailed stratigraphic column for the Agusan del Norte region. Two anomalous stream sediment sites 17
  18. 18. 43-101 Technical Report on the Mineral Resource Estimate for Agata North Nickel Laterite Project were defined near the Agata project during this phase of work. The Asiga porphyry system that lies east of the Agata tenements was explored by Sumitomo Metal Mining Company of Japan in the 1970’s and 1980’s (Abrasaldo 1999).La Playa Mining Corporation, financed by a German company in the late 1970’s, explored within theAgata Project area for chromiferrous laterite developed over weathered ultramafic rocks. There werefive (5) test pits dug in the area.In 1987, Minimax conducted reconnaissance and detailed mapping and sampling right after gainingcontrol over the area. Geological mapping at 1:1,000 scale was undertaken in the high-gradinglocalities, and an aerial photographic survey was conducted and interpreted. MRL established a miningagreement with Minimax in January 1997, and commenced exploration in the same year.Several artisanal miners are active within the project site since the 1980’s up to the present. Theseminers are conducting underground mining operations at the Assmicor and American Tunnels area andgold panning of soft, oxidized materials within Assmicor and Lao Prospect areas and of sediments inmajor streams including that of Tubay River. The region of small-scale mining activity was later named“Kauswagan de Oro” (translated: “progress because of gold”). The majority subsequently left the regionfor other high-grading areas in Mindanao. In more recent years, a group of copper “high-graders”emerged in the American Tunnels area mining direct-shipping grade copper ore. However, this newtrend waned due to the softening of metal prices in the latter part of 2008.9.0 GEOLOGICAL SETTING9.1 Regional GeologyThe principal tectonic element of the Philippine archipelago is the elongate Philippine Mobile Belt(PMB – Rangin, 1991) which is bounded to the east and west by two major subduction zone systems,and is bisected along its north-south axis by the Philippine Fault (Figure 3). The Philippine Fault is a2000 km long sinistral strike-slip wrench fault. In the Surigao district, this fault has played an importantrole in the development of the Late Neogene physiography, structure, magmatism and porphyry Cu-Auplus epithermal Au metallogenesis. There has been rapid and large-scale uplift of the cordillera in theQuaternary, and limestone of Pliocene age is widely exposed at 1000-2000 meters elevation (Mitchelland Leach 1991). A cluster of deposits on the Surigao Peninsula in the north consists chiefly ofepithermal gold stockwork, vein and manto deposits developed in second-order splays of the PhilippineFault (Sillitoe 1988). The mineralization-associated igneous rocks in Surigao consist mostly of smallplugs, cinder cones and dikes dated by K-Ar as mid-Pliocene to mid-Pleistocene (Mitchell and Leach1991; Sajona et al. 1994). (B.D.Rohrlach, 2005)The basement rocks consist of the Concepcion greenschist and metamorphic rocks of Cretaceous ageoverthrusted by the pillowed Pangulanganan Basalts of Cretaceous to Paleogene age, which in turn,were overthrust by the Humandum Serpentinite. Its emplacement probably occurred during theCretaceous time. This unit occupies a large part in the tenement area, which have high potential fornickel laterite mineralization. (Tagura, et.al., 2007)The Humandum Serpentinite is overlain by Upper Eocene interbedded limestone and terrigenous clasticsediments of the Nabanog Formation. These are in turn overlain by a mixed volcano-sedimentarypackage of the Oligocene Nagtal-O Formation, which comprises conglomeratic andesite, wacke withlesser pillow basalt and hornblende andesite, and the Lower Miocene Tigbauan Formation. The latter iscomprised of conglomerates, amygdaloidal basalts, wackes and limestones. Intrusive events associatedwith the volcanism during this period resulted in the emplacement of plutons and stocks that are 18
  19. 19. 43-101 Technical Report on the Mineral Resource Estimate for Agata North Nickel Laterite Projectassociated with porphyry copper-gold and precious metal epithermal mineralization in the region.(Tagura, et.al., 2007)Lower Miocene Kitcharao Limestone and the lower part of the Jagupit Formation overlie the TigbauanFormation. The Jagupit Formation consists of conglomeratic sandstone, mudstone and minor limestone.The youngest stratigraphic unit is the Quaternary Alluvium of the Tubay River floodplain.Mineral deposits within the region are dominated by epithermal precious metal deposits and porphyrycopper-gold. There is a rather close spatial and probably genetic association between epithermalprecious metals and porphyry deposits. These deposits exhibit strong structural control. First orderstructures are those of the Philippine Fault system, which play a role in the localization of the oredeposits, while the second order structures that have developed as a result of the movement along thePhilippine Fault system are the most important in terms of spatial control of ore deposition. (Tagura,et.al., 2007)Other mineral deposits are related to ultramafic rocks of the ophiolite suite and comprise lenses ofchromite within harzburgite and lateritic nickel deposits that have developed over weathered ultramaficrocks.9.2 Local Geology of Agata Project AreaThe Agata Projects area is situated along the southern part of the uplifted and fault-bounded WesternRange on the northern end of the east Mindanao Ridge. The Western Range is bounded by two majorstrands of the Philippine Fault that lie on either side of the Tubay River topographic depression (B.Rohrlach, 2005). The western strand lies offshore on the western side of the Surigao Peninsula,whereas the eastern strand, a sub-parallel splay of the Lake Mainit Fault, passes through a portion of theproperty and separates the Western Range from the Central Lowlands to the east (Figure 4). Thesesegments have juxtaposed lithologies consisting of at least six rock units including pre-Tertiarybasement cover rocks, ophiolite complex, clastic limestone and late-stage Pliocene calc-alkalineintrusive rocks. (Tagura, et.al., 2007)9.2.1 Greenschist (Cretaceous)The basement sequence on the property comprises greenschists, correlative to the ConcepcionGreenschists (UNDP, 1984), which occur mostly in the central to southern portions of the AgataProject. This rock outcrops in Guinaringan, Bikangkang and Agata Creek as long, elongated bodies inthe southern half of the tenement area. In the northern half, this unit is mapped as narrow, scatterederosional windows. The predominant minerals are quartz, albite, and muscovite with associated chlorite,epidote and sericite. In places, talc and serpentine are the main components. (Tagura, et.al., 2007) Theexposure of the schist by the late Eocene implies a metamorphic age of Paleocene or older and adepositional age of Cretaceous (UNDP, 1984)9.2.2 Ultramafics (Cretaceous)Ultramafic rocks unconformably overlie the basement schist and formed as conspicuously peneplanedraised ground on the property area. These are comprised of serpentinites, serpentinized peridotites,serpentinized pyroxenites, serpentinised harzburgites, peridotites, pyroxenites and lesser dunite, whichare fractured and cross-cut by fine networks of talc, magnesite and/or calcite veins. These rocks areusually grayish-green, medium- to coarse-grained, massive, highly-sheared and traversed by meshworkof serpentine and crisscrossed by talc, magnesite and calcite veinlets. The serpentinites in the AgataProjects correlate with the Humandum Serpentinite (B. Rohrlach, 2005). The Humandum Serpentinitewas interpreted by UNDP (1984) to be emplaced over the Concepcion greenschists probably before the 19
  20. 20. 43-101 Technical Report on the Mineral Resource Estimate for Agata North Nickel Laterite ProjectFigure 3: Geologic Map of Surigao Mineral District 20
  21. 21. 43-101 Technical Report on the Mineral Resource Estimate for Agata North Nickel Laterite ProjectOligocene, and before late Eocene deposition of the Nabanog Formation. MGB (2002) classified theHumandum Serpentinite as a dismembered part of the Dinagat Ophiolite Complex, which is establishedto be of Cretaceous age.These rocks have potential for nickel due to nickel-enrichment in the weathering profile as observed inits deep weathering into a reddish lateritic soil. (B. Rohrlach, 2005).9.2.3 Limestone (Upper Eocene)Several bodies of limestone correlative to the Nabanog Formation (UNDP 1984), were mapped in theproject area. The easternmost limestone body lies in the Assmicor-Lao prospect region, in the centralportion of the property and Guinaringan-Bikangkang area and at Payong-Payong area located at thewestern side. In the northern half of the property, these limestones occur as narrow scattered bodiesprobably as erosional remnants. In places, this unit exhibits well-defined beddings and schistosity andcrisscrossed by calcite ± quartz veinlets. The limestones outcropping near intrusive bodies are highly-fractured with limonite and fine pyrite, associated with gold mineralization, in fractures and show greenhue due to chloritization. In places, the limestone is interbedded with thin sandstone, siltstone, and shalebeds.9.2.4 Andesite and TuffSparsely distributed across the property are narrow bodies of andesite and tuff. Towards the vicinity ofPeak 426 at the northwestern part, the andesite occurs as an imposing volcanic edifice. It is generallyfine-grained to locally porphyritic in texture. The tuff grades from crystal tuff to lithic lapilli. Severalexposures of this unit are described by Abrasaldo (1999) as being strongly fractured adjacent tonortheast-trending faults.9.2.5 Intrusives (Upper Oligocene to Lower Miocene)A series of intrusives of alkalic and calc-alkaline composition occur in close vicinity to Lake MainitFault. These include syenites, monzonites, monzodiorites and diorites that are closely associated withgold mineralization as most of the workings and mining activities are concentrated within the vicinity ofthese intrusive rocks. The syenites are well-observed in the American and Assmicor tunnels and consistmostly of potash feldspar. The monzonites are noted in the Lao Area, in the American Tunnel andoccasionally along Duyangan Creek. Monzodiorite outcrops in the Kinatongan and Duyangan creeksand sparsely in the American Tunnel. Trachyte to trachyandesite porphyry is noted in the KinatonganCreek. Diorites were observed in the Assmicor Tunnel, which occur mostly as dikes. The intrusions inthe Lao and American Tunnel prospects have been tentatively correlated with the Mabaho Monzonite(UNDP, 1984).9.2.6 Limestone (Lower Miocene)Correlatives of the Kitcharao limestone are scattered through large areas of the Agata Projects area.Minor outcrops of the Jagupit Formation lie in the eastern claim block adjacent to barangay Bangonay(Abrasaldo, 1999).9.2.7 Recent AlluviumQuaternary Alluvium underlies the Tubay River floodplain, within the valley between the WesternRange and the Eastern Highlands. 21
  22. 22. 43-101 Technical Report on the Mineral Resource Estimate for Agata North Nickel Laterite Project9.3 Geology of the ANLP AreaThe widespread occurrence of harzburgite, peridotite, pyroxenite, their serpentinized equivalents,serpentinite, and localized lenses of dunite/serpentinized dunite comprise the lithology in the projectarea. These rocks are confined to broad ridges extending down to the footslopes. The ultramafic bodiesare of probable Cretaceous age, and were emplaced as part of an ophiolite sequence during the UpperEocene (Abrasaldo, 1999). Schists are also present in the extremities of the laterite area. Several ofthese rock types were likewise identified in petrographic/mineragraphic analyses of drill core and rocksamples. Sample number AGA-101 was identified as wehrlite (peridotite) while AGA-102, AGA-104and AGL-161 17.2m are serpentinized wehrlite. The drill core sample numbers AGL-161 12.15m,AGL-167 and SU02650 (AGL-238) are serpentinized websterites (pyroxenite) while SU02648 andSU02649 (AGL-238) are websterites. Serpentinites are found in sample numbers AGA-105, AGL-152,AGL-168, AGL-169, AGL-175, AGL-184 and AGL-216. One drill core sample from AGL-163 wasidentified as cataclasite. The location of these samples is shown in Figure 4. Lineaments trending NEare interpreted to be present in the area.Geological mapping in the project area showed favorable development of laterite along the broad ridgescharacterized by peneplane topography. These areas are where the drilling activities are concentrated. Inareas with moderate to semi-rugged topography, erosion proceeds much faster than soil development,hence the laterite is thinner. To date, estimated area of laterite in the prospect area is approximately 286ha. (Figures 4, 5 & 8).In the Agata Project, there are two distinct geomorphic features that have influenced laterite formationand consequent nickel enrichment. The Eastern part of the delineated body has a moderate relief whosebedrocks are exposed in ridge tops and in the nearby creeks. On the other hand, the Western lateriteoccurs on a low relief terrain and with no exposures of bedrock on its hillcrests. In the Western area, thelaterite is well developed and contains thick and highly mineralized limonite/saprolite and transitionrocks. The Eastern Laterite Zones contain boulders across the laterite profile suggesting transport. Itslimonite zone is usually thinner. (A. Buenavista, 2008)Test pits that were previously excavated by a previous company showed a maximum depth of 9.40 mand an average depth of 4.96 m. All these test pits have bottomed in limonite. Drilling done by QNI,Phils. (QNPH) and MRL showed thicker laterite profile than what was revealed by previous test pitting.10.0 DEPOSIT TYPESThe Surigao Mineral District is host to several deposit types. The Philippine Fault has played animportant role in the development of the Late Neogene physiography, structure, magmatism andporphyry Cu-Au plus epithermal Au metallogenesis. An intense clustering of porphyry Cu-Au andepithermal Au deposits occurs along the Eastern Mindanao Ridge.There is a strong structural control on the distribution of Au-Cu deposits in the Surigao district, and aclear association of deposits and mineral occurrences with high-level intrusives and subvolcanic bodies.Most of the centers of mineralization are located along NNW-SSE-trending second-order fault splays ofthe Philippine Fault, and where these arc-parallel structures are intersected by northeast-trending cross-faults. The Tapian-San Francisco property lies in a favorable structural setting at the district-scale, at theintersection between multiple strands of a NE-trending cross-structure and the Lake Mainit Fault. Thissame NE-trending structural axis encapsulates both the Boyongan porphyry deposit and the Placerepithermal gold deposits. (B. Rohrlach, 2005) 22
  23. 23. 43-101 Technical Report on the Mineral Resource Estimate for Agata North Nickel Laterite ProjectFigure 4: Agata Geologic Map 23
  24. 24. 43-101 Technical Report on the Mineral Resource Estimate for Agata North Nickel Laterite ProjectMost of the known hydrothermal gold mineralization within the district is of low-sulfidation epithermalcharacter developed in second-order splays of the Philippine Fault. The mineralization is predominantlyof Pliocene age and is spatially and temporally associated with the Mabuhay andesitic volcanism.Epithermal mineralization tends to be confined to the Mabuhay Clastics and associated andesitic stocks,lavas and pyroclastics, and in older rocks immediately beneath the unconformity at the base of theMabuhay Clastics. The principal low-sulfidation epithermal-type, carbonate-replacement-type andporphyry-type deposits and occurrences include: vein-type (Tabon-Tabon vein, Plancoya vein); bulk-mineable stringer stockworks (Placer, Motherlode, Mapaso, Nabago); stratabound ore or carbonate-hosted (Siana mine); surface workings in argillized zones (Mapawa, Hill 664, Manpower, Layab,Gumod); placer gold (Malimono-Masgad region); porphyry Cu-Au (Boyongan, Bayugo, Asiga andMadja); high-level porphyry-style alteration (Masgad, Malimono, Tapian-San Francisco) and highsulfidation (Masapelid Island). (B.D. Rohrlach, 2005)The principal deposit types that are being explored for in the MRL tenement holdings in the SurigaoMineral District are: Porphyry Cu-Au of calc-alkaline or alkaline affinity: TSF, TM & Ag Low-sulfidation epithermal Au: TM, TSF, Ag High-sulfidation epithermal Cu-Au: TSF Carbonate-hosted Disseminated Au-Ag Ore: Ag Skarn Au-(Cu): Ag, TSF Nickeliferrous Laterite: Ag, TSF, TM, Mat-iThe first five deposit types collectively belong to the broad family of magmatic-hydrothermal Cu-Audeposits that form above, within and around the periphery of high-level intrusive stocks of hydrous,oxidized, calc-alkaline to potassic alkaline magmas that are emplaced at shallow levels in the crust ofactive volcanic arcs. These different deposit types form at different structural levels of magmaticintrusive complexes, and their character is governed by a multiplicity of factors that include depth ofmagmatic degassing, degassing behavior, host-rock lithology and structural preparation. (B.D.Rohrlach, 2005)The Tapian-San Francisco, Tapian Main and Agata properties have high potential for the discovery ofboth porphyry Cu-Au style mineralization at depth and epithermal style mineralization at shallowerlevels. (B.D. Rohrlach, 2005)The Agata Projects area has high potential for the presence of one or more porphyry-type Cu-Auhydrothermal systems associated with 3 principal targets, and multiple satellite targets, that areassociated with zones of high IP chargeability. Porphyry-style mineralization has been encounteredpreviously in the Agata region by shallow drill holes in targets that are associated with modest IPchargeability anomalies. The Agata Projects possess multiple conceptual target styles such as porphyry,epithermal, Carlin-type and Ni-laterite (Figure 5).Occurrences of nickel and cobalt-bearing iron-rich laterites developed on ultramafic rocks are reportedfrom several areas of the Surigao del Norte province (Louca 1995). Laterites developed on ultramaficrocks comprising serpentinized peridotite occur within the Agata project area, and potential existswithin the Tapian Main, Tapian-San Francisco and Mat-i properties for these deposit types, in as muchas ultramafic rocks are present on these areas. (B. Rohrlach, 2005)The spatial relationship of the nickel laterite and the underlying porphyry Cu-Au mineralizationprospects is illustrated in Figure 6. There is no geological relationship between the two. 24
  25. 25. 43-101 Technical Report on the Mineral Resource Estimate for Agata North Nickel Laterite ProjectFigure 5: Agata CompilationFigure 6: Idealized Model of spatial relationship between nickel laterite and porphyry targets. 25
  26. 26. 43-101 Technical Report on the Mineral Resource Estimate for Agata North Nickel Laterite ProjectRecent reconnaissance geological mapping by MRL geologists has expanded the company’s globalnickel laterite resource potential. Mapping at Agata Project had previously outlined an area of potentialnickel laterite mineralization covering approximately 600 ha comprising both the ANLP and the ASLPareas. The latter is the subject of Minimax-MRL- Delta agreement. Delta carried out a resourcedelineation program in this area in 2007-2008.Encouraged by the early results of the nickel laterite exploration in the Agata Project, a regionalmapping program was carried out to determine the potential nickel laterite areas Mindoro has in itsSurigao Mineral District tenements. Results indicate potential for further nickel laterite mineralizationon the adjacent Tapian Main, Tapian SF and Mat-I tenements. (Figure 7)Based on the mapping alone, there is no guarantee that nickel grades and thickness will be ofcommercial interest. Accordingly, a program of reconnaissance auger drilling was carried out toestablish a preliminary indication of the nickel laterite potential of these tenements. Several areas havebeen outlined that justify drilling and resource delineation.Focus on the nickel laterite prospect was triggered by the very high demand for ferro-nickel feedstockfor stainless steel production in China commencing in 2005-2006. The Surigao Region is also emergingas a major nickel laterite district. There are a number of deposits either in production, providing DirectShipping Ore (DSO) to markets and processing plants in China, Japan, Korea and Australia, or beingdeveloped. These include the SR Metals Mine, the geological extension of the Agata nickel lateritemineralization, located about 4.5km southeast of ASLP and about two (2) km to Delta’s drilling Area Ain Brgy. Binuangan, Tubay. Following the softening of nickel prices in recent months, some of theexisting mines for DSO have suspended production.Several attractive alternatives are emerging for the local processing of nickel laterite. These include;constructing an on-site blast or electric arc furnace for nickel pig iron production (a low gradeferronickel product); ferronickel smelting (a ferronickel smelter recently commenced operation not faraway at Iligan City); heap-leaching, for which pilot testing on another Philippine laterite deposit hasproduced promising results; atmospheric (tank) leaching; and an improved generation of High PressureAcid Leach (HPAL) plants. HPAL technology is currently being used with great success by Sumitomoon its Philippine Coral Bay operation, and shows considerable promise for the local processing ofSurigao ores. In fact, Nickel Asia, in joint venture with Sumitomo, recently announced that it expects toproceed with construction of a high pressure acid leach (HPAL) plant in the Surigao District, which willproduce 30,000 tonnes per year nickel product. Current soft nickel prices may delay this development.11.0 MINERALIZATION11.1 Agata Nickel Laterite ProjectNickeliferrous laterite deposits are present over a broad region in the Agata Projects area (Figures 5, 7& 8). They are divided into two (2) major areas known as the ANLP and the ASLP. Based on mapping,the former has an area of approximately 286 hectares while the latter comprises about 235 hectares. Inthe ANLP, drilling is concentrated in about eighty (80) percent of the interpreted nickel lateritemineralization to date. 26
  27. 27. 43-101 Technical Report on the Mineral Resource Estimate for Agata North Nickel Laterite ProjectFigure 7: Compilation Map Showing areas of Mapped Nickel Laterite Mineralization 27
  28. 28. 43-101 Technical Report on the Mineral Resource Estimate for Agata North Nickel Laterite ProjectThe laterites are developed over ultramafic rocks that lie along the Western Range. The rock typeswithin the ultramafics are harzburgite, serpentinized harzburgite, peridotite, serpentinized peridotite,pyroxenite, serpentinized pyroxenite, serpentinite with localized lenses of dunite/serpentinized dunite.The ultramafic bodies are of probable Cretaceous age, and were emplaced as part of an ophiolitesequence during the Upper Eocene (Abrasaldo, 1999). Formation of the laterites is thought to haveoccurred during the Pliocene or early Pleistocene. The largest of the laterite bodies overlies the centralultramafic body (Figure 4).Initially, MRL undertook aerial photograph interpretations and field inspections, to define areas ofpotential laterite formation. The soil profile is intensely ferruginous in this region, and relic cobbles ofintensely fractured and serpentinized ultramafic rock lie scattered throughout the region of observedlaterite development. At higher elevations along the topographic divide, ferruginous pisolites and blocksof lateritic crust were observed developed on an ultramafic protolith.Nickel laterites are the products of laterization or intense chemical weathering of the ultramafic rocks,especially the olivine-rich varieties like harzburgite and dunite. This process results to the concentrationof nickel and cobalt of the parent rock. Its formation is favored in stable terrains like plateaus or broadridges and in humid climatic conditions with high rainfall and warm temperature. Latest explorationwork in the area has revealed that nickel laterite likewise occurs along the slopes.The laterite profile in the ANLP consists of the ferruginous laterite, limonite zone, saprolite zone, andthe saprolitic rock, from surface to bottom of the profile. The degree of weathering gradually increasesas the zone nears the surface. The limonite zone is characteristically iron oxide-rich where thepredominant minerals are hematite, goethite and clay while the saprolite zone consists of Mg-richminerals.Patches of garnierite are present within the saprolite and saprolitic rock horizon. Abundant garnieritewas observed in a trench along the slopes on the western portion of ANLP.For the ANLP drilling program, MRL initially classified the laterite horizons according to visuallogging. This was later reclassified according to nickel and iron content as follows: a. Ferruginous laterite – < 0.80% Ni, ≥30% Fe% b. Limonite – ≥ 0.80% Ni, ≥30% Fe% c. Saprolite – ≥ 0.80% Ni, <30% Fe% d. Saprolitic Rock – < 0.80% Ni, <30% Fe%Table 4 shows the average values for the different horizons according to this classification. The Nivalues are highest in the saprolite zone (average is 1.21%), followed by limonite zone. The ferruginouslaterite horizon has lower nickel content and highest iron. Cobalt content is highest in the limonite zone,Fe and Al in the ferruginous cover, and Mg and SiO2 in the saprolitic rock, followed by the saprolite.There is a marked drop within the saprolite in Fe and Al content, and a marked increase in Mg and SiO2.(There are no Al and Mg data from the early QNPH drill holes). Along the laterite profile, the saprolitezone is the thickest horizon while the ferruginous laterite is the thinnest. 28
  29. 29. 43-101 Technical Report on the Mineral Resource Estimate for Agata North Nickel Laterite ProjectFigure.8: Agata Projects Map showing areas of Nickel Laterite Mineralization. Table 4: Average Grades of Nickel Laterite Horizons LATERITE HORIZON AVE THICKNESS (m) Ni % Co % Fe % Al % Mg % SiO2 %FERRUGINOUS LATERITE 1.48 0.66 0.07 45.38 4.16 0.49 2.83LIMONITE 2.79 1.09 0.12 44.76 2.40 1.04 5.72SAPROLITE 5.21 1.21 0.03 11.75 0.45 14.58 36.44SAPROLITIC ROCK 4.89 0.47 0.02 7.14 0.30 18.33 38.60Figure 9 illustrates the variations in the iron, aluminum and magnesium contents for the differentlaterite horizons more clearly.12.0 EXPLORATIONAll exploration work on the Agata Project carried out by the operator MRL [Philippine subsidiary ofMindoro] was under the direct supervision of James A. Climie, P.Geol., MRL President and CEO.The Agata Project MPSA denominated as MPSA No. 134-99-XIII was registered on June 19, 1999.Community information and education campaigns commenced in 1997 and have continued since thattime. 29
  30. 30. 43-101 Technical Report on the Mineral Resource Estimate for Agata North Nickel Laterite ProjectFigure 9: Cross section Line 10100N Linegraph. It can be observed that the pronounced drop in iron and aluminum content from the limonite tosaprolite horizons coincides with the increase in magnesium content. 30
  31. 31. 43-101 Technical Report on the Mineral Resource Estimate for Agata North Nickel Laterite Project12.1 MRL Exploration (1997-2000)Initial work by MRL on the Agata Project between 1997 to 2000 comprised a geological evaluationconducted by Marshall Geoscience Services Pty Ltd. It was part of a due-diligence assessment of theproperty prior to entering into a Joint Venture with Minimax. This work suggested that hydrothermalgold mineralization at Agata is related to andesitic or dioritic intrusives, that vein mineralization isrepresentative of the upper levels of a porphyry system and that there is prospectivity for skarnmineralization within limestones on the property (Marshall, 1997; Climie et al., 2000).The 1st phase of exploration activity commenced in May 1997 in the Assmicor region and consisted ofgrid establishment followed by soil geochemical survey (1,617 soil samples analyzed for Au, Ag, Cu,Pb, Zn, As), geological mapping plus selective rockchip sampling and petrographic studies.Furthermore, DOZ technologies of Quebec, Canada, interpreted a RadarSat image of the Agata area andgenerated a 1:50,000 scale interpretation of the region. In addition, MRL re-sampled by channelsampling, five test pits (ATP-1 to ATP-5) that were excavated by La Playa Mining Corporation andsubmitted 24 samples for Ni, Co and Au analysis by AAS. These pits encountered laterite thicknesses of2.48 to 9.40 meters. The composited assay values for each of the re-sampled test pits range from 0.43%to 0.94% nickel. The results are incorporated in the current soil maps (Figures 10-12).The 2nd phase of exploration activities on the Agata Projects was undertaken between June 1999 andDecember 1999. This included grid re-establishment, geological mapping within the Assmicor Prospectand American Tunnels, ground magnetic survey, soil geochemistry (50 samples), rock/core sampling,petrography and drilling of 11 holes. (Climie et al., 2000).The soil sampling survey generated widespread Cu and Au soil anomalies. Soil Cu anomalies tend to beclosely restricted to mapped intrusions at American Tunnels and Assmicor-Lao. Soil Au anomalies aremore widespread and extend into the surrounding and overlying carbonate rocks. In contrast, soil Asanomalies appear to be weakly developed over the intrusions but more strongly developed overcarbonates. The Cu and Au soil anomalies associated with the Assmicor-Lao prospect region (Figures10-11) are open to the east beneath the alluvial flood plain sediments of the Tubay River. The potentialfor an extension of the Assmicor mineralization to the immediate east beneath the Tubay Riverfloodplain is strengthened by the observation that the dikes and intrusives encountered in drilling atAssmicor dip towards the east, that porphyry-like quartz veins were encountered in drillhole DH 99-11,which lies east of the Assmicor prospect, and the evidence of a resistivity anomaly developing on theedge of the IP survey east of the Assmicor prospect.Nineteen surface channel samples were collected in the Limestone Prospect area (Figure 13). Sixteen ofthese samples yielded grades ranging from 0.02 g/t Au to 0.85 g/t Au. Three of the samples graded 2.79g/t Au over 3.7 meters, 3.77 g/t Au over 2 meters and 1.48 g/t Au over 3 meters. The channel samplesindicate a zone of anomalous gold above 0.1 g/t in rock samples that extends over an area of 100m by50m in oxidized limestone.Petrographic analyses by Comsti (1997) and Comsti (1998) reveal that the intrusive rocks at Agataconsist of alkalic, silica-undersaturated plutonic rocks. These comprise of syenites and monzonites thatdisplay varying degreees of sericitic and propylitic alteration. Potassic feldspar is a primary mineralphase in many of these rocks.An in-house ground magnetic survey was conducted in 1999 (Figure 14). The magnetic data compriseda series of semi-continuous magnetic highs, with values >40250nT, that broadly coincide with thedistribution of ultramafic rocks along the western margin of the Lao and Assmicor areas. The magneticsignature decreases gradually westward where the ultramafics are thought to be buried at deeper levelsbeneath the limestones. 31

×