Canadian mining company Rugby Mining Limited received its drilling and exploration permit for its Mabuhay Project, including the Mother Lode gold, in Surigao del Norte.
Mother Lode, formerly known as the Mindanao Mother Lode Gold Mine, is a high-grade epithermal vein system. The deposit was considered as the country’s highest grade gold producers with reported production of 500,000 ounces of gold at a recovered grade of 14 g/t from 1937 to 1953.
The Mabuhay Project, which has a total size of 878 hectares, contains the Mother Lode. It is located 12 kilometers south of Surigao City, the capital city of Surigao del Norte.
Although Rugby Mining’s initial permit already covered a large area, it did not include access to old gold mine area and disallows the company from subjecting the Mother Lode gold target to drilling operations.
Rugby Mining can opt to earn 80 percent of the Mabuhay Project through having staged payments, incurring committed expenditures, and completing a pre-feasibility study.
The Canadian mining company is after the extensions of already mined area of the Mother Lode vein system that was over 765 meters in length and 245 meters in depth.
