Salacot Project

The Salacot Gold Project comprises an exploration permit application located 35km northeast of Manila. The project is serviced by good road access and is proximal to all infrastructure in Manila and surrounds. The project is subject of an option to purchase agreement between BMRC and SMMC.

The Salacot Project covers the historic Salacot and Secao underground gold mines. The Salacot and Secao mines were explored, developed and put into production by Americans in the 1930's and were actively mined up to the commencement of World War II.

During the 1970s and 1980s, Benguet, Philex, and several other exploration companies evaluated the Salacot and Secao mines and surrounds, however, no exploration of a meaningful nature was performed on the area.

The most detailed and comprehensive exploration performed on the project is the work of United Paragon Mining Corporation ("UPMC") during the period 1989-90. UPMC mapped and sampled a total of 17 underground headings (crosscuts/drifts) and/or exploration adits. These underground headings totaled some 1.9km. That work determined that gold mineralisation is controlled by an extensive fissure/fault vein system hosted by chloritised and silicified upper Eocene to Oligocene andesites and lower Miocene diorite. UPMC mapped and sampled at least 20 fault and vein systems, 6 of which were in the early stages of development and production when abandoned at the outbreak of World War II.

Historic production from the Salacot mines amounted to 80,934 ounces of gold to 1940.

Figure 1: Longitudinal section showing the Secao and Salacot mines
and interpreted plunge projection of gold mineralization.