INDEPENDENT REPORT ON THE NICKEL LATERITE RESOURCE - AGATA SOUTH, PHILIPPINES, Agusan del Norte Province

INDEPENDENT REPORT ON THE NICKEL LATERITE RESOURCE -
AGATA SOUTH, PHILIPPINES.

Agata Nickel Laterite Project, Agusan del Norte Province, Philippines.

For

MINDORO RESOURCES LIMITED
Suite 104, 17707 – 105 Avenue
Edmonton, Alberta T5S 1T1
Canada

4th November 2011

Mark G Gifford MSc (Hons), FAusIMM

Independent Report on the Nickel Laterite Resource – Agata South, Philippines 2011

TABLE OF CONTENTS

Executive Summary ................1

1.0 Introduction ................3
2.0 Reliance on other experts ................3
3.0 Property Description and Location ................4
3.1 Location
3.2 Property Description
3.3 Tenement Type
4.0 Accessibility, Climate, Local Resources, Infrastructure and Physiography ..............11
4.1 Climate
4.2 Local Resources and Infrastructure
4.3 Physiography
4.4 Access
5.0 History ..............13
6.0 Geological Setting ..............14
6.1 Regional Geology
6.2 Local Geology
7.0 Deposit Types ……………18
7.1 Laterite Ni Deposit Type Geology
7.2 Other Deposit Type Geology - Agata
8.0 Mineralization ..............21
9.0 Exploration ..............22
9.1 MRL Au-Cu Exploration (1997-2000)
9.3 MRL Laterite Ni Exploration
10.0 Drilling ……………25
10.1 Bolobolo / Karihatag Drilling Record
10.2 Drill Hole Collar Surveys
11.0 Sampling Method and Approach ..............27
11.1 MRL Sampling Procedure
11.2 MRL Sampling Protocols
12.0 Sample Preparation, Analyses and Security ……………28
12.1 MRL Core Sampling
12.2 Checking of Laboratory Performance
12.3 Laboratory Protocols
12.4 Internal Check Assays
12.5 External Check Assays
12.6 Summary
13.0 Data Verification ..............38
14.0 Adjacent Properties ..............40
15.0 Mineral Processing and Metallurgical Testing ..............40
15.1 Bulk Density Determinations

i


16.0 Resource Estimate ..............42
16.1 Geological Interpretation
16.2 Exploratory Data Analysis
16.3 Variography and Estimation
16.4 Resource Classification
16.5 Results
17.0 Other Relevant Data and Information …………..54
18.0 Interpretation and Conclusions .............54
19.0 Recommendations …………..55
20.0 References .............56
21.0 Date and Signature .............59

ii


LIST OF FIGURES

Figure 1: Map of the Philippines showing MRL Project Areas ................4
Figure 2: MRL Tenements and Projects in the Surigao Mineral District ................5
Figure 3: Map showing broad outline of ANLP and Agata Cu-Au Prospects ................6
Figure 4: Compilation Map showing areas of mapped Ni Laterites within Surigao District ................7
Figure 5: Panoramic view of Agata South showing the main area of laterite development..............12
Figure 6: Geological Map of Surigao Mineral District ..............16
Figure 7: Agata South Drillhole Location Map – All Drilling ..............26
Figure 8: Graphs of Nickel Standards Assays. ..............33
Figure 9: Comparison of Independent Checks and MRL Assays ..............39
Figure 10: Agata North Bulk Density Test Pit Location Map ..............42
Figure 11: Drillhole spacing, Agata South …….........43

Figure 12: Wireframe surfaces and drilling, Agata South (Mg on LHS, Ni on RHS of drill trace).........45
Figure 13: Block model coloured by laterite horizons, Agata South ..............45
Figure 14: Example of a boulder within hole ASL-020 ..............46
Figure 15: Raw sample lengths (left) and composite lengths (right). ..............47
Figure 16: Swath plot, Ni by easting, Agata South. ..............50
Figure 17: Mineral Resource classification for Agata South. Drill hole locations in yellow ..............52
Figure 18: Ni grade-tonnage curves, Agata South limonite. ..............53

Figure 19: Ni grade-tonnage curves, Agata South Saprolite. ..............54

iii


LIST OF TABLES

Table 1: Agata South Project Tenements held by Mindoro ..........…...8
Table 2: Climate Averages and Extremes 1961-2000 ……………11
Table 3: NAMRIA Tie Points Technical Description ……………27
Table 4: Ni Standards used at Agata South and frequency ..............30
Table 5: Variance of Internal Laboratory Duplicate Analyses ……………32
Table 6: Variance of Field Duplicate to Original Assays ……………34
Table 7: Variance of Coarse Reject to Original Assays ..............35
Table 8: Variance of Pulp Duplicate and Original Assays ..............36
Table 9: Variance of Pulp Duplicate and Interlab Assays ..............37
Table 10: Results of Independent Check on Agata South Drill Core Assays ..............39
Table 11: Summary of Bulk Density Measurements ..............41
Table 12: Block Model Properties .............44
Table 13: Block model domain codes. .............44
Table 14: Basic Statistics. .............47
Table 15: Limonite variogram model parameters. .............48
Table 16: Saprolite variogram model parameters. .............49
Table 17: Search parameters. .............49
Table 18: Proportion of model estimated for Ni per pass .............50
Table 19: Input sample composites vs. model. .............51

Table 20: Agata South Mineral Resource Estimate as at 13 September 2011. .............53

Table 21: Mean grades for boulders. .............53

LIST OF APPENDICIES

Appendix 1: Agata South - Cross-Sections
Appendix 2: MRL QA/QC Procedures
Appendix 3: Intertek Sample Preparation Procedures
Appendix 4: ANLP Bulk Density Data
Appendix 5: Agata South - Resource Estimate – Statistics and Variography

iv

Independent Report on the Lateritic Ni Resource – Agata South, Philippiness 2011

EXECUTIVE SUMMARY

This Ni Laterite Resource report was prepared at the request of Jon Dugdale, Managing Director of
Mindoro Resources Ltd (MRL). It is the first total mineral resource estimate completed for the Agata
South deposit which has been identified and delineated during this single program of exploration.

The Agata South deposit is located about 30 km north-northwest of Butuan City and 64 km
southwest of Surigao City, Mindanao Island, Philippines. This deposit is part of the projects located
within the overall Agata Project. The Agata South deposit is held by the approved MPSA of Minimax
Mineral Exploiration Corp (Minimax), denominated as MPSA-134-99-XIII, which is comprised of 61.5
blocks covering an area of 4,995 hectares (ha). The MPSA-134-99-XIII was approved on May 26 1999
by the Department of the Environment and Natural Resources (DENR) and was registered on June
17, 1999 with the Mines and Geosciences Bureau (MGB) Regional Office No. XIII in Surigao City. A
MOA was signed by Mindoro and Minimax on January 19, 1997. Mindoro assigned all its rights in the
MOA to MRL on June 27, 1997.

The Agata South deposit is situated within the southern portion of the uplifted and fault-bounded
Western Range on the northern end of the east Mindanao Ridge. Greenschists, ultramafics,
limestones, andesite and tuff, younger limestones, intrusive, and alluvium are present within the
area. The widespread occurrence of ultramafics and serpentinized ultramafics, especially along the
broad ridges characterized by peneplaned topography provide a favourable environment for the
development of nickel laterites.

The laterite profile in the Agata South deposit consists of the ferruginous laterite, limonite, saprolite
grading to the ultramafic rock, from surface to increasing depth. The limonite zone is iron oxide-rich,
where the predominant minerals are hematite, goethite and clays, and with moderate nickel content
(over 1%), while the saprolite zone has much less iron-oxide, is magnesium-rich, and has a slightly
higher nickel content than the limonite horizon in its upper portion.

This report is based on the exploration data that were produced and compiled by MRL. Data
verification performed by the author found no discrepancies. Hence the database is considered
adequate to meet industry standards to estimate mineral resources.

The resource was estimated by Alastair Cornah and Mike Job, Principal Consultants, Quantitative
Group Perth, using the Ordinary Kriging method. The data was domained into 3 ore types, Limonite,
Saprolite and Bedrock and within each domain 6 individual elements were estimated and reported
upon. The resource estimate for the Agata South deposit is as below:

1


Classification Horizon kTonnes Ni Co Fe Al Mg SiO2
Indicated Limonite 1,566 0.66 0.09 42 5.7 1.4 11
Saprolite 3,474 0.95 0.02 13 1.5 16.6 37
Total 5,040 0.86 0.04 22 2.8 11.9 29

Inferred Limonite 217 0.70 0.08 40 5.4 1.7 14
Saprolite 232 0.95 0.02 14 1.4 16.1 37
Total 449 0.83 0.05 26 3.3 9.2 26

The cut-offs applied to the resource were 0.5%Ni for Limonite and 0.8%Ni for Saprolite (as per the
previous estimates completed upon the Agata North Laterite Project, (Cox, 2008 2009a 2009b;
Gifford 2010)).

2


1.0 INTRODUCTION

The Agata South Lateritic Nickel resources in the Philippines forms part of the resource base of
Mindoro Resources Limited (MRL). MRL have been actively exploring in the Philippines archipelago
since 1997, with the first lateritic Nickel resource drilling program completed in 2007 at Agata North
Laterite Project. Since lateritic Nickel resource drilling has commenced there have been numerous
drill programs completed so as to develop and build a significant resource for planning purposes
associated with the potential development of processing facilities in northern Mindanao.

This technical report was prepared at the request of Mr J Dugdale, CEO of Mindoro Resources
Limited of Canada [TSX – Venture Exchange]. This is the second completed drilling program upon the
Agata South resource after Delta Earthmoving Inc. completed a simple preliminary resource in 2008,
however, the standard of the drilling and the potential issues of sample quality meant that the
deposit was re-drilled by experienced MRL operatives. The MRL drill program has been completed in
a single drilling pass utilising the extensive knowledge built up through lateritic nickel exploration for
drill spacing and resource development methodology from the Agata North resource.

The resource estimate presented in this report has been completed by Alastair Cornah and Mike Job,
both qualified geological statisticians and Principal Consultants for Quantitative Group (QG) – a
geological consulting firm based in Perth, West Australia. The estimation methodology and
geochemical modelling used on the resource was defined by discussions with the author and QG so
as to provide the most comprehensive and accurate resource estimate possible considering the data
spacing and continuity.

The author has visited site on two occasions, and has seen the exploration drilling in progress and
has been able to review all aspects of the operation. Tony Climie, the managing MRL exploration
geologist based in Manila has visited site on numerous occasions and has been in charge of all MRL
drill programs completed upon the Mindoro Ni Laterite projects since 1997.

2.0 RELIANCE ON OTHER EXPERTS

This report was compiled by the author with the assistance of Alastair Cornah and Mike Job of QG
Consulting Perth, with regards to the completion of the resource estimate and geostatistical
information, Tony Climie of MRL Gold, with regards to discussion and review, and Jean Ravelo and
Maya Arguelles of MRL Gold with regards to all aspects of field services from drilling, assaying
through to density determinations and selected sample and assay collations. Numerous other
Philippine staff were critical in the development of this report with regards to geology, survey,
tenement information, diagrams and field access.

3


3.0 PROPERTY DESCRIPTION AND LOCATION

3.1 Location

The Agata South Project is located within the northern part of Agusan del Norte province in
Northeastern Mindanao, Republic of the Philippines. It lies within the Western Range approximately
22 kilometers south of the southern portion of Lake Mainit (Figures 1-2). The Agata South deposit
fall within the political jurisdiction of the municipality of Tubay. The Mineral Production Sharing
Agreement (MPSA), Agata MPSA-134-99-XIII, encompasses the deposit, and is bounded by
geographical coordinates 9010’30” and 9019’30” north latitudes and 125029’30” to 125033’30” east
longitudes.

Figure 1: Map of the Philippines showing MRL Project Areas

The Agata South deposit ASLP is located in barangays Binuangan, Tagpangahoy, and Tinigbasan, all in
the municipality of Tubay, province of Agusan del Norte. It lies about 64 km south of Surigao City and
30 km north-northwest of Butuan City. The majority of MRL’s exploration activities on the project
area are located in the province of Agusan del Norte.

The locations of the known mineralized zones on the Western Range in the Agusan del Norte (and
Surigao del Norte) exploration areas relative to the property boundaries are illustrated in Figure 3
and Figure 4. The Agata South mineralized zones, as defined by drilling and mapping

4


Figure 2: MRL Tenements and Projects in the Surigao Mineral District

5


to date, lies entirely within the MPSA-134-99-XIII. Other known nickel laterite zones exist near the
northern boundary and central regions of the property. Artisanal copper and gold mining is active in
the Agata area and are shown in Figure 3. These are outside the delineated nickel laterite
mineralized zones at Agata South.

Figure 3: Map showing broad outline of ANLP and Agata Cu-Au Prospects

There are no existing reported Cu/Au resources within or near the Agata South resource boundaries.
The nearest mine infrastructures, including settling ponds, are those of the SRMI Mine located in
between the parcels of the Agata MPSA at the southern boundaries (Figure 4). The National Highway
runs parallel to the MPSA-134-99-XIII.

3.2 Property Description
The Agata South area is part of the Agata Projects and is covered by the approved MPSA of Minimax
Mineral Exploiration Corp (Minimax), denominated as MPSA-134-99-XIII, which is comprised of 61.5
blocks covering an area of 4,995 hectares (ha) (Figure 2). To the south of the Agata South resource
areas is the SRMI mine site that is currently mining Direct Shipping Ore (DSO) from their lateritic Ni
resource.

6


Figure 4: Compilation Map showing areas of mapped Ni Laterites within Surigao District
7


To the north of the tenement is the Tapian Extension Exploration Permit (EP) Area denominated as
EP 042-XIII, covering 6,842.28 ha. All of this EP area is located within the Western Range in the
northern portion of the Agusan del Norte province.

The MPSA-134-99-XIII was approved on May 26 1999 by the Department of the Environment and
Natural Resources (DENR) and was registered on June 17, 1999 with the Mines and Geosciences
Bureau (MGB) Regional Office No. XIII in Surigao City. A MOA was signed by Mindoro and Minimax
on January 19, 1997. Mindoro assigned all its rights in the MOA to MRL on June 27, 1997. The MOA
granted 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 the
Extension Projects (tenements acquired after the finalization of the MOA) in the Surigao Mineral
District. It also has a further option to acquire an additional 25% direct and indirect participating
interest. The 2nd and 3rd exploration periods for the MPSA were July 23, 2004 to July 22, 2006 and
February 7, 2007 to February 6, 2009, respectively. The fourth exploration was granted on June 19,
2009. The Agata-Bautista-EP was approved on October 2, 2006 and the first renewal was applied for
on September 29, 2008.

Both tenements are in good standing. Since the first Exploration Period in 1999, submission of all
quarterly and annual accomplishment reports, and quarterly drilling reports; and the payment of the
mandated occupation fees were accomplished by MRL, on behalf of Minimax. The same was done
for the Agata-Bautista EP.

Table 1: Agata Tenements held by Mindoro:

TENEMENT ID AGATA AGATA-BAUTISTA

PERMIT NUMBER MPSA-134-99-XIII EP-21-XIII

APPLICATION NUMBER APSA-XIII-007 EPA-00080-XIII

DATE FILED (MGB XIII) 4-Jul-97

DATE APPROVED 26-May-99 2-Oct-06

PERMITTEE/ APPLICANT MINIMAX BAUTISTA

LOCATION Jabonga, Santiago, & Tubay, Agusan del Norte Santiago, Agusan del Norte

AREA (ha**) 4,995.00 84.39
st
- 4th Exploration Pd. approved-June 19, 2009 1 renewal of EP filed on 29-Sep-08
STATUS
-ECC granted May 20, 2008

MPSA - Mineral Production Sharing Agreement EP - Exploration Permit

APSA - Application for Mineral Production Sharing Agreement EPA - Exploration Permit Application

8


The boundaries of these tenements were located by the claim owners on a topographic map and
submitted to the MGB-DEMR for approval. A tenement boundary survey approved by the MGB will
be required through an “Order to Survey” once a mining project feasibility study has been submitted
by the proponent. The coordinates used by Mindoro are those indicated in the Exploration Permit
document issued by the MGB. The surveyed drillhole collars are tied to a local grid, which in turn is
tied to National Mapping 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 an
approximate area of 2,700 ha were later relinquished. This leaves 4,995 ha of the approved Contract
area as of May 18, 2000. The details of the original 99 claim blocks may be referenced on Item 6.2,
pages 11-13 of the January 22, 2009 NI 43-101 Report on the Agata North Nickel Laterite Project
available on sedar.com and Mindoro’s website.

With the issuance of an MPSA covering the Agata Projects, the landuse classification of the area is
therefore for mineral production. Those outside the Contract area are essentially classified as
timberland. There are no dwellers within the ANLP and ASLP drilling areas. The author is not aware
of any environmental liabilities to which the property is subject other than those that fall under the
Philippine Mining Act of 1995.

On May 20, 2008, an Environmental Compliance Certificate (ECC) was issued by the DENR to MRL for
nickel laterite mineral production covering 600 ha within the Agata MPSA Contract area, including
both the Agata North and Agata South projects.

The barangay (village) centers where the projects are located, are mostly populated by Christians.
There are some indigenous peoples (IP) that live in the surrounding areas within and outside the
Minimax MPSA Contract area. Sitio Coro, Bgy. Colorado is almost entirely populated by IPs while
other IP groups have merged with the non-IP inhabitants in barangays E. Morgado and La Paz,
municipality of Santiago, and Bgy. Tagmamarkay, Tubay.

MRL, through the assistance of the National Commission on Indigenous Peoples (NCIP) - Regional
Office No. XIII, has signed a Memorandum of Agreement with the IPs living within the MPSA
Contract Area in 2008 albeit the latter have neither Certificate of Ancestral Domains Claim (CADC)
nor Certificate of Ancestral Domains Title (CADT) within the Contract area. The MOA calls for a 1%
royalty on gross sales 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
the southern part of the Agata Projects and are 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
negotiations with Delta. Delta, at its sole cost and risk, may carry out exploration of the ASLP and
may select an area of up to 250 ha to advance to production if warranted.

9


3.3 Tenement Type
An MPSA is a form of Mineral Agreement, for which the government grants the contractor the
exclusive right to conduct mining operations within, but not title over, the contract area during a
defined period. Under this agreement, the Government shares in the production of the Contractor,
whether in kind or in value, as owner of the minerals. The total government share in a mineral
production sharing agreement shall be the excise tax on mineral products. The excise tax is 2% of the
actual market value of the gross output at the time of extraction. In return, the Contractor shall
provide the necessary financing, technology, management and personnel for the mining project.
Allowable mining operations include exploration, development and utilization of mineral resources.

The approved MPSA has a term not exceeding 25 years from the date of the execution thereof and
renewable for another term not exceeding 25 years. It gives the right to the Contractor to explore
the MPSA 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 the MPSA.

The Contractor is required to strictly comply with the approved Exploration and Environmental Work
Programs together with their corresponding budgets. These work programs are submitted by the
Contractor 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
oath on all activities conducted in the Contract Area. All the reports submitted to the Bureau shall be
subject to confidentiality clause of the MPSA. The Contractor is further required to pay at the same
date every year reckoned from the date of the first payment, to the concerned Municipality an
occupation fee over the Contract Area amounting to PhP 75.00 per hectare. If the fee is not paid on
the date specified, the Contractor 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 technically
feasible for mining operations, the Contractor, during the exploration period, shall submit a
Declaration of Mining Project Feasibility together with a Mining Project Feasibility Study, a Three
Year Development and Construction or Commercial Operation Work Program, a complete geologic
report of the area and an Environmental Compliance Certificate (ECC). Failure of the Contractor to
submit a Declaration of Mining Project Feasibility during the 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 including
construction of production facilities within 36 months from the submission of the Declaration of
Mining Project 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
relinquished to the Government. The Contractor shall also show proof of its financial and technical
competence in mining operations and environmental management.

10


On February 2005, the Philippine Supreme Court decided with finality allowing for the 100% foreign
ownership of the mineral tenement under the Financial and Technical Assistance Agreement (FTAA).

4.0 ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND PHYSIOGRAPHY

4.1 Climate
The climate of Jabonga, Santiago and Tubay municipalities where the project area is situated belongs
to Type II on the Philippines Atmospheric Geophysical & Astronomical Services Administration
(PAGASA) Modified Coronas Classification. It has no dry season with very pronounced rainfall
months. Climate averages from 1981-2000 show that peak rainfall months are from October to
February. The highest mean monthly rainfall is 308 mm during January and the lowest mean
monthly rainfall is 104.8 mm during May while mean annual rainfall is 2027 mm.

Table 2: Climate Averages and Extremes 1961-2000

RAINFALL TEMPERATURE WIND
CLOUD
RH
MONTH AMT
AMOUNT # OF Dry Wet Dew %
MAX MIN MEAN DIR SPD (okta)
(mm) RD Bulb Bulb Pt.

Jan 308.0 21 30.1 22 26.1 25.7 24.2 23.6 88 NW 1 6

Feb 211.8 15 30.8 22 26.4 26.0 24.2 23.5 86 NW 1 6

Mar 149.8 16 31.8 22.4 27.1 25.7 24.5 23.7 83 NW 1 5

Apr 107.2 12 33.1 23.1 28.1 27.7 25.2 24.3 82 ESE 1 5

May 104.8 14 33.8 23.8 28.8 28.3 25.8 25.0 82 ESE 1 6

Jun 135.1 16 33.0 23.6 28.3 27.8 25.5 24.7 83 ESE 1 6

Jul 157.5 16 32.5 23.3 27.9 27.5 25.3 24.5 84 NW 1 6

Aug 105.1 12 32.8 23.5 28.1 27.8 25.4 24.6 82 ESE 2 6

Sep 140.2 14 32.8 23.3 28.1 27.7 25.4 24.6 83 NW 2 6

Oct 195.3 17 32.3 23.2 27.8 27.4 25.3 24.6 84 NW 1 6

Nov 193.7 18 31.6 22.9 27.2 26.9 25.1 24.5 86 NW 1 6

Dec 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 6

Based on Butuan City Synoptic Station

11


4.2 Local Resources and Infrastructure
A farm-to-market road was constructed by MRL in 2005 and is currently servicing three (3)
barangays in two (2) towns. This road was turned-over to the local government. Road maintenance
is being supported by the company. Little infrastructure is located on the western side of the
deposits excepting the barangays general facilities.

The drill sites and the whole plateaus are predominantly fern-dominated (bracken heath) open
grassland sparsely interspersed with forest tree seedlings and saplings of planted species. A few
secondary growth trees line the streams along the lower slopes.

4.3 Physiography
Most part of the Agata Projects spans the NNW-SSE-trending Western Range, which towers over the
Mindanao Sea to the west and Tubay River to the east, which drains southward from Lake Mainit.
The western part of the area is characterized by a rugged terrain with a maximum elevation of 528
meters above sea level. This part is characterized by steep slopes and deeply-incised valleys. The
eastern portion, 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 30m above sea level.

Within the project area, the mineralization is contained upon a moderately eroded plateau that has
preserved the weathered ultramafic. Some erosion through slips has occurred but they are minor
and to the north and east. Elevations range from 250-320m above sea level extending similar
topographic expressions going to the south. The topography over the principal laterite development
is shown in Figure 5 below.

Figure 5: Panoramic view of Agata South showing the main area of laterite development.

12


4.4 Access
The Agata South site is accessible by any land vehicle from either Surigao City or Butuan City via the
Pan-Philippine Highway. At the highway junction at Barangay Dona Rosario, turn to Tubay townsite
crossing over the Tubay River. A small boat can deliver you to Barangay Binuangan., at the base of
the western portion of the Agata South deposit from the waterfront of Barangay La Fraternidad,
Tubay. Alternatively if access can be arranged, 4WD vehicles can travel through the SRMI mine site
to the northern section of the Agata South deposit, where you can connect with the market road
down to barangay Binuangan.

5.0 HISTORY

The earliest recognized work done within the area is mostly from government-related projects
including:

 The Regional Geological Reconnaissance of Northern Agusan reported the presence of gold
claims in the region (Teves et al. 1951). Mapped units include 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. The geology
of the Western Range was described 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
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 the
Agata Project area for chromiferrous laterite developed over weathered ultramafic rocks. There
were five (5) test pits dug in the area.

In 1987, Minimax conducted reconnaissance and detailed mapping and sampling. Geological
mapping at 1:1,000 scale was undertaken in the high-grading localities, and an aerial photographic

13


survey was conducted and interpreted. MRL established a mining agreement 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. These
miners are conducting underground mining operations at the Assmicor and American Tunnels area
and gold panning of soft, oxidized materials within Assmicor and Lao Prospect areas and of
sediments in major 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 region for 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 new trend waned due to the softening of metal prices in the latter part of 2008.

6.0 GEOLOGICAL SETTING

6.1 Regional Geology
The 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. The Philippine Fault is a 2000 km
long sinistral strike-slip wrench fault. In the Surigao district, this fault has played an important role in
the development of the Late Neogene physiography, structure, magmatism and porphyry copper-
gold plus epithermal gold metallogenesis (Figure 6). There has been rapid and large-scale uplift of
the cordillera in the Quaternary, and limestone of Pliocene age is widely exposed at 1000-2000
meters elevation (Mitchell and Leach 1991). A cluster of deposits on the Surigao Peninsula in the
north consists chiefly of epithermal gold stockwork, vein and manto deposits developed in second-
order splays of the Philippine Fault (Sillitoe 1988). The mineralization-associated igneous rocks in
Surigao consist mostly of small plugs, cinder cones and dikes dated by K-Ar as mid-Pliocene to mid-
Pleistocene (Mitchell and Leach 1991; Sajona et al. 1994; B.D.Rohrlach, 2005).

The basement rocks consist of the Concepcion greenschist and metamorphic rocks of Cretaceous
age overthrusted by the pillowed Pangulanganan Basalts of Cretaceous to Paleogene age, which in
turn, were overthrust by the Humandum Serpentinite. Its emplacement probably occurred during
the late Cretaceous. The Humandum Serpentinite occupies a large part in the tenement area, and
through its subsequent weathering the area has a high potential for nickel laterite mineralization.
(Tagura, et.al., 2007).

The Humandum Serpentinite is overlain by Upper Eocene interbedded limestone and terrigenous
clastic sediments of the Nabanog Formation. These are in turn overlain by a mixed volcano-
sedimentary package of the Oligocene Nagtal-O Formation, which comprises conglomeratic
andesite, wacke with lesser pillow basalt and hornblende andesite, and the Lower Miocene Tigbauan
Formation. The latter is comprised of conglomerates, amygdaloidal basalts, wackes and limestones.
Intrusive events associated with the volcanism during this period resulted in the emplacement of
plutons and stocks that are associated with porphyry copper-gold and precious metal epithermal
mineralization in the region. (Tagura, et.al., 2007)

14


Lower Miocene Kitcharao Limestone and the lower part of the Jagupit Formation overlie the
Tigbauan Formation. 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
porphyry copper-gold. There is a rather close spatial and probably genetic association between
epithermal precious metals and porphyry deposits. These deposits exhibit strong structural control.
First order structures are those of the Philippine Fault system, which play a role in the localization of
the ore deposits, while the second order structures that have developed as a result of the
movement along the Philippine 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 of
chromite within harzburgite and lateritic nickel deposits that have developed over weathered
ultramafic rocks.

6.2 Local Geology

The Bolobolo and Karihatag resource areas are situated along the southern part of the uplifted and
fault-bounded Western Range on the northern end of the east Mindanao Ridge. The Western Range
is bounded by two major strands 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 the property and separates the Western Range from the Central
Lowlands to the east (Figure 6). These segments have juxtaposed lithologies consisting of at least six
rock units including pre-Tertiary basement cover rocks, ophiolite complex, clastic limestone and late-
stage Pliocene calc-alkaline intrusive rocks. (Tagura, et.al., 2007)

The rock units within the Bolobolo and Karihatag resource areas from oldest to youngest are as
discussed below:

Concepcion Greenschist (Cretaceous)
The basement sequence on the property comprises greenschists, correlative to the Concepcion
Greenschists (UNDP, 1984), which occur mostly in the central to southern portions of the Agata
Project and not outcropping in either Bolobolo or Karihatag. This rock outcrops in Guinaringan,
Bikangkang and Agata Creek as long, elongated bodies. In the northern half, this unit is mapped as
narrow, scattered erosional 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) The exposure of the schist by the late Eocene implies a
metamorphic age of Paleocene or older and a depositional age of early Cretaceous. (UNDP, 1984)

15


Figure 6: Geological Map of Surigao Mineral District

16


Humandum Ultramafic (Cretaceous?)
Ultramafic rocks unconformably overlie the basement schist and formed as conspicuously
peneplaned raised ground on the property area. These are comprised of serpentinites, serpentinized
peridotites, serpentinized pyroxenites, serpentinized harzburgites, peridotites, pyroxenites and
lesser dunite, which are fractured and cross-cut by fine networks of talc, magnesite and/or calcite
veins. These rocks are usually grayish-green, medium- to coarse-grained, massive, highly-sheared
and traversed by meshwork of serpentine and crisscrossed by talc, magnesite and calcite veinlets.
The serpentinites in the Bolobolo and Karihatag resource areas correlate with the Humandum
Serpentinite (B. Rohrlach, 2005). The Humandum Serpentinite was interpreted by UNDP (1984) to be
emplaced over the Concepcion greenschists probably before the Oligocene, and before late Eocene
deposition of the Nabanog Formation. MGB (2002) classified the Humandum Serpentinite as a
dismembered part of the Dinagat Ophiolite Complex, which is established to be of Cretaceous age.

These rocks have potential for nickel due to nickel-enrichment in the weathering profile as observed
in its deep weathering into a reddish lateritic soil. (B. Rohrlach, 2005).

Nabanong Limestone (Upper Eocene)
Several bodies of limestone correlative to the Nabanog Formation (UNDP 1984), were mapped to
the south of the project areas on the western portion of the Western Range. The easternmost
limestone body lies in the Assmicor-Lao prospect region, in the central portion of the property,
Guinaringan-Bikangkang area and at Payong-Payong area located at the western side. In the
northern half of the property, these limestones occur as narrow scattered bodies probably as
erosional remnants. In places, this unit exhibits well-defined beddings and schistosity and
crisscrossed 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
green hue due to chloritization. In places, the limestone is interbedded with thin sandstone,
siltstone, and shale beds.

Andesite and Tuff (Oligocene)

Sparsely distributed across the properties are narrow bodies of andesite and tuff. Towards the
vicinity of Peak 426 at the northwestern portion of the Agata region and to the south of the Bolobolo
resource area, the andesite occurs as a volcanic edifice. It is generally fine-grained to locally
porphyritic in texture. The tuff grades from crystal tuff to lithic lapilli. Several exposures of this unit
are described by Abrasaldo (1999) as being strongly fractured adjacent to northeast-trending faults.

Volcanic Intrusives (Upper Oligocene to Lower Miocene)
A series of intrusives of alkalic and calc-alkaline composition occur in close vicinity to Lake Mainit
Fault. These include syenites, monzonites, monzodiorites and diorites that are closely associated
with gold mineralization as most of the workings and mining activities are concentrated within the
vicinity of these intrusive rocks. The syenites are well-observed in the American and Assmicor
tunnels and consist mostly of potash feldspar. The monzonites are noted in the Lao Area, in the
American Tunnel and occasionally along Duyangan Creek. Monzodiorite outcrops in the Kinatongan

17


and Duyangan creeks and sparsely in the American Tunnel. Trachyte to trachyandesite porphyry is
noted in the Kinatongan Creek. Diorites were observed in the American and Assmicor tunnels, which
occur mostly as dikes. The intrusions in the Lao and American Tunnel prospects have been
tentatively correlated with the Mabaho Monzonite (UNDP, 1984).

Kitcharao Limestone (Lower Miocene)
Correlatives of the Kitcharao limestone are scattered through large areas of the southern projects
area. Minor outcrops of the Jagupit Formation lie in the eastern claim block adjacent to barangay
Bangonay (Abrasaldo, 1999).

Recent Alluvium
Quaternary Alluvium underlies the Tubay River floodplain, within the valley between the Western
Range and the Eastern Highlands.

7.0 DEPOSIT TYPES

7.1 Laterite Ni Deposit Geology

The widespread occurrence of harzburgite, peridotite, pyroxenite, their serpentinized equivalents,
serpentinite, and localized lenses of dunite/serpentinized dunite comprise the lithology in the
project area. These rocks are confined to broad ridges extending down to the footslopes of the
Western Range. The ultramafic bodies are of probable late Cretaceous age, and were emplaced as
part of an ophiolite sequence during the Upper Eocene (Abrasaldo, 1999). Schists are also present in
the extremities of the laterite area. Several of these rock types were likewise identified in
petrographic/mineragraphic analyses of drill core and rock samples as wehrlite (peridotite),
serpentinized wehrlite, serpentinized websterites (pyroxenite), websterites, serpentinites and
cataclasite. Lineaments trending NE within the ultramafic (and underlying green schist?) are
interpreted as either fault splays or zones of weakness in the area.

Geological mapping in the project area showed favorable development of laterite along the broad
ridges characterized by peneplane topography. These areas are where the drilling activities are
concentrated. In areas with moderate to semi-rugged topography, erosion proceeds much faster
than soil development, hence the laterite is thinner.

In the Bolobolo Project, there is a distinct geomorphic feature that has further influenced laterite
formation and consequent nickel enrichment. The northern part of the delineated body has a
moderate relief whose depth of laterite development and Ni enrichment is greater than in all other
parts of this deposit, and this is due to the erosion of this portion of the deposits via slips has been
reduced due to the presence of a volcanic plug halting the “giving way” of the laterite via continual
18


erosion along developed weathering planes. Both Karihatag and Bolobolo have significant erosion
issues and these have been the major delimiters of the resource, and this is a feature of many of the
lateritic Ni deposits north of the Agata deposits.

No test pits have been developed in either Bolobolo or Karihatag. This level of information is not
required at this point in time due to the extensive knowledge already gained by a comprehensive
knowledge of the regions lateritic Ni deposits now gained by staff and operatives.

7.2 Other Deposit Type Geology – Agata

The Surigao Mineral District is host to several deposit types. The Philippine Fault has played an
important role in the development of the Late Neogene physiography, structure, magmatism and
porphyry Cu-Au plus epithermal Au metallogenesis. An intense clustering of porphyry Cu-Au and
epithermal Au deposits occurs along the Eastern Mindanao Ridge.

There is a strong structural control on the distribution of Cu-Au deposits in the Surigao district, and a
clear association of deposits and mineral occurrences with high-level intrusives and sub-volcanic
bodies. Most of the centres of mineralization are located along NNW-SSE-trending second-order
fault splays of the Philippine Fault, and where these arc-parallel structures are intersected by
northeast-trending cross-faults. The Tapian-San Francisco property lies in a favourable structural
setting at the district-scale, at the intersection between multiple strands of a NE-trending cross-
structure and the Lake Mainit Fault. This same NE-trending structural axis encapsulates both the
Boyongan porphyry deposit and the Placer epithermal gold deposits. (B. Rohrlach, 2005)

Most of the known hydrothermal gold mineralization within the district is of low-sulphurisation
epithermal character developed in second-order splays of the Philippine Fault. The mineralization is
predominantly of 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 the Mabuhay Clastics. The principal low-sulfidation epithermal-type,
carbonate-replacement-type and porphyry-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 and Madja); high-level porphyry-style alteration (Masgad,
Malimono, Tapian-San Francisco) and high sulfidation (Masapelid Island). (B.D. Rohrlach, 2005)

The principal deposit types that are being explored for in the Agata tenement area are:

Porphyry Cu-Au of calc-alkaline or alkaline affinity
Low-sulphurisation epithermal Au
Carbonate-hosted Disseminated Au-Ag Ore
Skarn Au-(Cu)
Nickeliferous Laterite

19


The first four deposit types collectively belong to the broad family of magmatic-hydrothermal Cu-Au
deposits 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 of
active volcanic arcs. These different deposit types form at different structural levels of magmatic
intrusive complexes, and their character is governed by a multiplicity of factors that include depth of
magmatic degassing, degassing behavior, host-rock lithology and structural preparation. (B.D.
Rohrlach, 2005)

The Tapian and Agata Projects area has high potential for the presence of one or more porphyry-
type Cu-Au hydrothermal systems associated with 3 principal targets, and multiple satellite targets,
that are associated with zones of high IP chargeability. Porphyry-style mineralization has been
encountered previously in the region by shallow drill holes in targets that are associated with
modest IP chargeability anomalies. The Tapian and Agata Projects possess multiple conceptual target
styles such as porphyry, epithermal, Carlin-type and Ni-laterite (Figure 3).

American Tunnels near the define Agata North lateritic Ni Project is a small erosional window
through ultramafic capping rocks. It is in the center of a six kilometer trend of chargeability
anomalies and at a point where the chargeability is near-surface, and actually daylights. It is also
associated with extensive alteration, geochemical anomalies, and abundant gold and copper-gold
showings. American Tunnels is characterized by a chargeability anomaly, extending over 800 meters
by 300 meters. There are over 100 shallow artisanal mines and workings within the trend, but
mineralization is mostly obscured by ultramafic cap rock of variable thickness. Where the
mineralization is exposed, younger gold mineralization is telescoped into interpreted porphyry
copper-gold related mineralization (Figure 3).

Mineralization is at the top of multi-phase intrusives, on the cusp of the chargeability anomaly, and
is interpreted as a high-grade, late-stage concentration at the upper contact of the intrusive stocks
and dykes, and derived from porphyry copper-gold mineralization below. Petrology indicates
mineralization is principally within late, more-fractionated monzonite phases of a syenite,
monzonite, monzodiorite and diorite intrusive complex of dykes, sills, and small stocks intruding
ultramafic rocks. Mineralization is associated with complex alteration assemblages of chlorite,
epidote, actinolite, biotite ± k-feldspar, sericite, magnetite and albite. Copper minerals are
chalcopyrite and bornite. These features, as well as the high molybdenum values, are consistent with
a porphyry copper-gold setting.

Gold is mined from a honeycombing of shallow (5 to 20 meters) underground workings, estimated to
be several hundred meters in extent, within an area of about 200 meters by 225 meters at American
Tunnels. Free gold is also present in streams draining ultramafic cap rocks several hundred meters
north of American Tunnels. There are also dozens of artisanal gold workings within other erosional
windows to the south on the Agata Project.

Having artisanal workings producing both gold and copper throughout the local region indicates that
there is significant opportunity within the project area and provides Mindoro with significant
opportunity outside of the Ni Laterite resources defined in this report.
20


8.0 MINERALIZATION

Nickeliferous laterite deposits are present over a broad region in the Tapian and Agata Projects area
(Figure 4). Any area of laterised ultramafic in the Tapian and Agata Projects area has the potential to
contain enriched levels of Ni and Co due to the high rates of weathering and the exposure of
susceptible ultramafic rocks.

The laterites being explored by MRL are developed over ultramafic rocks that lie solely along the
Western Range. The rock types within 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 ophiolite sequence during the Upper Eocene (Abrasaldo, 1999).
Formation of the laterites is thought to have occurred during the Pliocene or early Pleistocene. The
largest of the laterite bodies overlies the central ultramafic body (Figure 7).

Initially, MRL undertook aerial photograph interpretations and field inspections, to define areas of
potential laterite formation. The soil profile is intensely ferruginous in this region, and relic cobbles
of intensely fractured and serpentinized ultramafic rock lie scattered throughout the region of
observed laterite development. At higher elevations along the topographic divide, ferruginous
pisolites and blocks of 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. The high rainfalls and intense
weathering breaks down the easily weathered harzburgite and dunite and the more mobile
elements of Mg and Si tend to leave the profile at a much faster rate than the less mobile Fe and
Ni/Co. Thus high Fe laterite and limonite zones overlie the weathering saprolite of the ultramafic
rocks and where erosion of the upper Fe laterite is low quite deep depths can be formed (<10m).

The Ni mineralization is predominantly at the base of the Fe laterite and the top of the saprolite, as
this element is concentrated in minerals that can hold it within their matrix (limonite and to a lesser
degree hematite, goethite and Fe-rich clays in the Fe Laterite, and more primary Mg rich clays
(saponite and stevensite) in the ultramafic saprolite. When weathering is very deep, in zones of
interpreted crush or fault zones, then more Ni can be located in the Fe laterite, but predominantly
the largest Ni enrichment is within the saprolite of the underlying ultramafic rock near the contact
zone with the Fe laterite.

Within the saprolitic ultramafic there are areas of more weathering resistant “boulders” and these
tend to carry less Ni mineralization than the surrounding more degraded saprolite – this is related to
the lower level presence of the Mg rich clays and their capacity to carry Ni and Co within their
structure.

21


9.0 EXPLORATION

All exploration work on the Agata South deposit was carried out by Mindoro under the direct
supervision of James A. Climie, P.Geol., Exploration Manager. Local staff formed the exploration
team with qualified geologists logging all drill core and the site manager also being a qualified
geologist. All exploration since the emplacement of the MOA in 1997 is discussed in this section of
the report.

Initial work by MRL on the Tapian - Agata Project from 1997 to 2000 comprised a geological
evaluation conducted by Marshall Geoscience Services Pty Ltd. It was part of a due-diligence
assessment of the property prior to entering into a Joint Venture with Minimax. This work suggested
that hydrothermal gold mineralization at Agata is related to andesitic or dioritic intrusives, that vein
mineralization is representative of the upper levels of a porphyry system and that there is
prospectivity for skarn mineralization 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
of grid 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
and generated a 1:50,000 scale interpretation of the region. In addition, MRL re-sampled by channel
sampling, five test pits (ATP-1 to ATP-5) excavated by La Playa Mining Corporation. These pits
encountered laterite thicknesses of 2.48 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 2nd phase of exploration activities on the Tapian - Agata Projects was undertaken between June
1999 and December 1999. This included grid re-establishment, geological mapping within the
Assmicor Prospect and 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
be closely restricted to mapped intrusions at American Tunnels and Assmicor-Lao. Soil Au anomalies
are more widespread and extend into the surrounding and overlying carbonate rocks. In contrast,
soil Arsenic anomalies appear to be weakly developed over the intrusions but more strongly
developed over carbonates. The Cu and Au soil anomalies associated with the Assmicor-Lao
prospect region (Figure 3) are open to the east beneath the alluvial flood plain sediments of the
Tubay River. The potential for an extension of the Assmicor mineralization to the immediate east
beneath the Tubay River floodplain is strengthened by the observation that the dikes and intrusives
encountered during drilling.

22


Assmicor 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
the edge of the IP survey east of the Assmicor prospect.

Nineteen surface channel samples were collected in the Limestone Prospect area. Sixteen of these
samples yielded grades ranging from 0.02 g/t Au to 0.85 g/t Au. Three of the samples graded 2.79 g/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 samples
indicate a zone of anomalous gold above 0.1 g/t in rock samples that extends over an area of 100m
by 50m in oxidized limestone.

Petrographic analyses by Comsti (1997) and Comsti (1998) reveal that the intrusive rocks at Agata
consist of alkalic, silica-undersaturated plutonic rocks. These comprise of syenites and monzonites
that display varying degrees of sericitic and propylitic alteration. Potassic feldspar is a primary
mineral phase in many of these rocks.

An in-house ground magnetic survey was conducted in 1999. The magnetic data comprised a series
of semi-continuous magnetic highs, with values >40250nT, that broadly coincide with the
distribution of ultramafic rocks along the western margin of the Lao and Assmicor areas. The
magnetic signature decreases gradually westward where the ultramafics are thought to be buried at
deeper levels beneath the limestones.

MRL drilled eleven (11) diamond drill holes into the Assmicor and Limestone prospects in 1999 and
encountered Au intersections associated with limonitic stockworks in biotite monzodiorite intrusive.
These include 18.8m @ 1.13 g/t Au and 24.2m @ 1.38 g/t Au in holes DH 99-05 and DH 99-06,
respectively. The intrusives comprise larger biotite monzodiorite bodies that are cross-cut by
younger diorite dikes, plagioclase diorite dikes, biotite diorites and quartz diorites. These dikes and
intrusive bodies dip predominantly eastward, suggesting that a deeper magmatic source lies to the
east, possibly along the trace of the Lake Mainit splay of the Philippine Fault, beneath the alluvial
floodplain of the Tubay River. Drillhole DH 99-11, collared east of the Assmicor shaft, intersected
porphyry-style quartz-magnetite veins in biotite diorite, quartz diorite and in hornblende-quartz
diorite.

MRL undertook a third phase of exploration activity in 2004 on the Tapian Agata Project. This activity
involved gridding, mapping and extensive grid-based pole-dipole induced polarization (IP)
geophysical surveying along 30 east-west-oriented survey lines that extend from 7,800 mN to 13,400
mN. The IP data were acquired by Elliot Geophysics International using a Zonge GGT-10 transmitter,
a Zonge GDP-32 receiver and a 7.5 KVA generator. A total of 77.10 km of grid were surveyed by pole-
dipole IP. The dipole spacing used in the survey was 150 meters. The data were modelled by Dr Peter
Elliot of Elliot Geophysics International using inversion modelling.

23


Induced polarization (IP) surveying on the Agata Project has identified numerous IP chargeability
anomalies that form finger-like apophyses at shallow levels, and which amalgamate into larger
anomalies at deeper levels. The IP chargeability anomalies tend to strengthen with depth in the core
anomaly regions (Southern Target anomaly and Northern Target anomaly). The IP chargeability
anomalies attain values that locally exceed 40 msecs, and routinely exceed 20 msecs on most of the
IP pseudo-sections from Agata. Weaker modeled IP chargeability anomalies are associated with
known mineralization at Assmicor (10-18 msec) and in other satellite positions adjacent to the two
cores Northern and Southern target anomalies. There is an indication, from the four plan views of
the IP chargeability data, that NNW to NW faults may be important in controlling the distribution
and shape of many of the IP anomalies at Agata. Faults that lie along these trends are expected to
lie in a dilational orientation in relation to the regional stress field associated with sinistral
movement on the near north-trending Philippine Fault splay.

Preliminary drilling on the Tapian Agata Project was carried out between November 2, 2005 and
October 28, 2006. This was conducted under a joint-venture among MRL, Panoro Minerals Ltd.
(Panoro), and Minimax. The prospects were highly recommended priority targets for drill evaluation
as these prospects exhibit classic stacking of geophysical, geological and geochemical features
associated with Philippine porphyry copper-gold systems (Rohrlach, 2005). The preliminary drilling
program was aimed to test the area of highest chargeability’s in the North and South Porphyry
Targets.

Great operational difficulties were encountered in extraordinarily bad ground conditions. A total of
five drill holes with a combined length of only 756.45 meters were completed, four of which were
drilled within the North Porphyry Target and one at South Porphyry Target. All five holes were
prematurely terminated, not reaching target depths. The chargeability anomalies were interpreted
to occur at around 375m below surface (N=4) based on IP geophysical inversion models. The deepest
hole bottomed at only 251.20m, a long way from the 500-meter target.

All drill holes have intersected and bottomed in strongly serpentinized ultramafics with very minimal
pyrite mineralization. Dr. Peter Elliot, Consulting Geophysicist, affirmed that the serpentine was not
the cause of the anomalies, and would only cause a weak IP anomaly.

From 2008 to 2009, underground mapping and sampling (continuous rock chip and grab sampling) of
the American Tunnels prospect was undertaken. To date, results of 48 rock samples have been
reported by Mindoro. Significant results include an aggregate of 26m @1.94g/t Au; 21.90m @3.67%
Cu, and 17.5m @2.01% Cu. Results of the underground sampling are incorporated in the rock
geochemistry map.

9.3 MRL Laterite Ni Exploration
Lateritic Nickel mineralization was known within the Tapian Agata Project areas since the early
1990’s and grades were confirmed in the development of test pits in 1997. The project since this

24


initial definition has moved ahead so as to better define the resource and to provide better technical
information with regards to eventual exploitation.

In June 2004, Taganito Mining Corporation was selected from several interested parties and granted
the non-exclusive right to assess the nickel laterite potential of the Agata Project. Taganito carried
out two phases of evaluation and reported encouraging results. Forty-eight surface laterite and rock
samples were collected from an area of about 300 ha within a much more extensive area of nickel
laterite mineralization. Nickel contents range from very low to a high of 2.09%, with most of the
values exceeding 0.5%. Taganito considered these values to be within the range that normally cap
the secondary nickel enriched zone and have recommended a detailed geological survey and drilling.
However, MRL elected to allow Queensland Nickel Phils., Inc. (QNPH) to proceed with a
reconnaissance drill program in 2006.

Since Taganito, exploration has been carried out by the use of open core drilling on a drill pattern
that has been successively closed down with each subsequent drill programs so as to enhance the
accuracy of the future reported lateritic Ni resource. All drilling to date has been completed by the
use of small mobile open hole NQ coring rigs, which are highly mobile in difficult to access terrain.
Recovery from these drill rigs is high, with losses generally occurring where there are changes in the
hardness of the drilled material, causing material to be disrupted at the bit face. The major ore zone
is generally a softer material and losses within the ore zones have been minimal at all stages of the
drilling programs. A variety of contractors have been used over time in the Tapian Agata Projects
area, with the drilling rate being the only variation with regards to their performance and sampling
rate.

10.0 DRILLING

10.1 Agata South Drilling Record
Agata South Drilling History

For the resource being compiled in this report the total number of drill holes completed is 199 for
2,571.05m meters of drilling with an average drill hole depth being 12.92m. Drilling was completed
between the dates of 7th May 2011 to 14th July 2011. All drill holes completed within the Agata
South area are located on Figure 7. All cross sections are in Appendix 1.

25


Figure 7: Agata South Drillhole Location Map – All Drilling

Summary

All exploration completed to date has been systematic and appropriate with regards to the
development of a resource estimate. The author considers the drilling methodology used within the
Agata South Area and the various sample recovery rates appropriate and accurate with regards to
providing a sampling platform for resource estimation.

10.2 Drillhole Collars Survey
Surveying of drill hole collars’ position and elevation was undertaken by MRL surveyors using a
Nikon Total Station DTM-332. This, together with the topographic survey of the Agata South area is
tied to five National Mapping and Resource Information Authority (NAMRIA) satellite/GPS points
and benchmarks with certified technical descriptions (Table 3). The Reference System used is PRS 92
or WGS 84, used interchangeably by mathematical conversions.

Consequently, the baseline for the local gridlines is based on many MRL control stations. About
2,795 survey points, including drill hole collars, were established with varying shot distances. These
are downloaded into the computer by seamless data transfer, imported to MAPINFO, which are then
used for the Digital Terrain Modelling to derive the contour map.

26


Table 3: NAMRIA Tie Points Technical Description

STATION EASTING NORTHING ELEVATION

B-1 770282.4648 1043049.4476 312.1215

B-2 770362.6665 1042967.3974 303.1060

T-1 7787061.9133 1020145.4420 289.5870

T-2 778198.4090 1020430.8999 286.9606

11.0 SAMPLING METHOD AND APPROACH

11.1 MRL Sampling Procedure
The QA/QC Procedures for the Agata South drilling program was set up by MRL geologists and was
followed by all personnel involved in all stages of the program (Appendix 2). This was adapted from
the QA/QC Protocols of QNPH for the 2006 drill program carried out on the Agata North deposits.
Periodically, the protocols were evaluated and improvements implemented. The core handling,
logging and sampling procedures applied in the program are briefly described below.

Core checkers, under the supervision of MRL technical personnel, are present on every drill rig
during operation. This is to record drilling activities from core recovery, core run, pull-out and put-
back, casing and reaming at the drill site. Once a core box is filled, it is sealed with a wooden board
then secured with a rubber packing band. This is placed in a sack and manually carried to the
temporary core house some 300m to 1km from the drill area.

Core logging was carried out in the core shed by MRL geologists. For standardization of logging
procedures, the geologists are guided by different codes for laterite horizon classification,
weathering scale, boulder size, and colour.

After logging, the geologist determines the sampling interval. Core sampling interval is generally at
one (1) meter intervals down the hole, except at laterite horizon boundaries, when actual
boundaries are used. The sample length across the boundaries is normally in the range of 1.0 ±
0.30m to avoid excessively short and long samples. In the saprolitic rocks and bedrock layers, some
sample intervals have lengths greater than 1.30 meters to a maximum of 2.00 meters.

11.2 MRL Sampling Protocols
As in all stages of the resource definition program, the Agata South QA/QC Procedures (Appendix 2)
were diligently followed during the sample preparation and security procedures. The analyses for
the 2,699 core samples were performed by Intertek Testing Services, Phils., Inc. (ITS), for the Agata
27


South deposit. The laboratory follows internationally-accepted laboratory standards in sample
handling, preparation and analysis.

The ITS Phils. facility is among Intertek’s global network of mineral testing laboratories. It provides
high quality assay analysis of mineral samples for lateritic nickel deposit exploration projects.
Intertek mineral testing laboratories implement quality protocols that are consistent with
procedures seen in other high quality laboratory facilities seen throughout the world.

Extensive work has been completed historically by Mindoro with regards to sampling protocols in
lateritic Ni resource definition at Agata North, a significant resource to the north of the Agata South
deposit. During the early phases of Mindoro’s resource work, the rechecking of the integrity of
laboratory assays was completed by independent consultant Dr. Bruce D. Rohrlach, a qualified
competent person, provided MRL geologists with sampling procedures in May, 2007 after several
site visits. This was incorporated into the QA/QC Procedures.

Following the recommendations of another qualified person, F. Roger Billington in May, 2008, the
sampling protocols were slightly modified. The most important modification was the insertion of
pulp rejects in the same batch as the mainstream samples. This is to ensure that all conditions in
assaying are similar, if not completely the same for both the mainstream and check samples.

12.0 SAMPLE PREPARATION ANALYSES AND SECURITY

12.1 MRL Core Sampling
The drilling, primary sample collection, core sampling and logging facility was under the supervision
of MRL geologist or mining engineer at all times.

The logging of the drill core was completed at the drill site, and this combines the geological
supervision of the drilling, correct sample recovery procedures and accurate record of losses of the
drill core during drilling, as well as the completing correct “End of Hole” procedures while finishing
the drill hole in basal geological units. After the initial drilling samples are transported to a base
camp, where a civilian guard is on duty securing the base camp premises during the night. The
samples are further transported to Agata for sample preparation if this is not completed at the base
camp.

All core samples from Agata South were split-sampled so as to ensure the availability of reference
samples in the future. The cores were cut in half using either a core saw or spatula. The remaining
half is stored in properly-labelled core boxes at the Mindoro Camp site in Agata.

The sampling interval is marked in the core box by means of masking tape/aluminium strip labelled
with the sampling depth. The sample collected is placed in a plastic bag with dimension of 35cm x
25cm secured with a twist tie. The plastic bag is labelled with the drill hole number and sample
interval.

28


After the samples are collected, they are weighed then sun-dried for about 5 hours and weighed
again before final packing for delivery to the laboratory. In cases where there is continuous rain, the
samples are pan-dried for 5-6 hours using the constructed drying facility or wood-fired oven.

MRL prepared its own sample tags for all samples including pulp repeats, pulp standards, and coarse
rejects samples. The samples were placed in a rice sack and then in a crate to ensure the security of
the samples during transport.

For batches of core samples from Agata South drill programs, the core samples were delivered to
Intertek’s sample preparation facility in Surigao City. Likewise, checking of samples against the list
was done upon submission. Once prepared, Intertek-Surigao sends the samples to their assay
laboratory in Muntinlupa City, Metro Manila.

The ANLP drilling was directly under the supervision of James A. Climie, P. Geol., Exploration
Manager of Mindoro.

12.2 Checking of Laboratory Performance
In addition to stringent sampling protocols, QA/QC procedures were also employed following Dr. B.
Rohrlach’s and F.R. Billington’s (MRL independent consultants) guidelines. Standard reference
materials, field duplicates, coarse rejects and pulp rejects were resubmitted to the analysing
laboratory to check the accuracy of the primary laboratory results. A total of 514 analyses of check
samples (including standards and internal laboratory check analyses), were used in confirming the
accuracy and repeatability of all assays to be used within the resource estimation of Agata South.
Selection of check samples are spread throughout all holes and in various laterite horizons.

The field duplicates totalled 70 or 2.59% of the 2,699 mainstream core samples of the Bolobolo and
Karihatag resources. Normally, 1 in every 40 core samples is duplicated. The duplicate sample is
selected to ascertain that the full range of different laterite horizons is systematically covered. The
samples were selected to cover the full range of Ni grades at both deposits, and are to extensively
cover the different stages and spatial distribution of the drill program, so as to provide a
representative check on the reliability of the original sample splitting process undertaken by MRL at
the field offices of either Agata or Mainit. All of the core in this drill program was half-core sampled,
with the field duplicates taken by cutting the remaining ½ core into 2. These samples were sent to
the laboratory in the same batch and were treated in the same way as the mainstream core samples.

A set of 21 coarse reject samples, comprising 0.78% of the 2,699 core samples, were submitted to
the laboratory where the original samples were analyzed for resampling and assaying. Resampling
was done by taking a duplicate split from the coarse rejects and then placing it back into the assay
stream for analysis. Again, as in all duplicates, the submitted samples were chosen to cover the
natural range of assays. The reanalysis of the coarse reject samples was undertaken as an internal
check on the crushing and sub-sampling procedures of the laboratory to ensure that the samples
taken for analysis were representative of the bulk sample.

29


There were two sets of pulp rejects sent for re-assaying. One was sent to the Intertek (Phils)
laboratory where it was originally analyzed. A total of 67 pulp rejects were sent under this category.
The other set was sent to an umpire laboratory, wherein a total of 52 pulp rejects were analyzed.
This is to establish reproducibility of analysis and determine the presence or absence of bias
between laboratories. Samples were taken from all of the different laterite horizons. Originally, pulp
rejects were collected and sent in separate batches, but now all pulp rejects to the primary
laboratory are forwarded within the normal submitted samples, with the pulp rejects sent to the
umpire laboratory forwarded as a separate batch.

The umpire laboratory for the drilling program was Intertek in Jakarta. Selected pulp samples were
sent by MRL to Intertek’s Manila office, after which they forward the samples to Jakarta in Intertek
Cilandak Commercial Estate 103E, JI Cilandak KKO, Jakarta 12560. Intertek (Jakarta) has acquired an
ISO 17025 2005 accreditation from KAN (National Accreditation Body of Indonesia) denominated as
LP 130_IDN.

Nickel standards or certified reference materials are routinely inserted to the batches of core
samples sent for assaying. This is done as a double check on the precision of the analytical
procedures of Intertek (Phils) on a batch by batch basis. The standards, which have known assay
values for Ni, were provided by Geostats Pty Ltd of Australia and Mindoro’s own check standards in
pulverized (pulp) form weighing about 5 grams contained in 7.5cm X 10cm heavy duty plastic bags.
Originally, one (1) standard sample is inserted for every batch of 40 to 45 samples. However, there
were some standards inserted in smaller intervals of 25-35 samples; however the normal range was
one standard sample included in every set of approximately 40 samples. In all, 70 standards
equivalent to 2.59 % of the core samples were used.

6 types of Ni standards were used with grade ranging from 0.001% to 1.51 % Ni. The GBM standards
each come with a certificate that shows the accepted mean Ni value and standard deviation, which
are available in the website of Geostats (www.geostats.com.au). The specific nickel standards and
the frequency of using each one are listed in Table 4.

#
Ni Standard Assays %Ni

GBM305-9 5 0.25
GBM997-4 1 0.001
MRL-9959 20 0.48
MRL-11657 20 0.23
MRL-5122 20 0.89
GBM905-13 4 1.51

6 Standards 70

Table 4: Ni Standards used at Agata South and frequency
30


12.3 Laboratory Protocols
Intertek Testing Services Phils., Inc. is among Intertek’s global network of mineral testing
laboratories. It provides quality assay analysis of mineral samples for nickel deposit exploration
projects. Measures are taken by Intertek mineral testing laboratories to ensure that correct method
development and quality protocols are in place to produce good quality results.

Each sample is analyzed for nickel (Ni), cobalt (Co), iron (Fe), magnesium (Mg), aluminum (Al), silica
(SiO2), CaO, Cr2O3, K2O, MnO, Na2O, P2O5, and TiO2. Whole rock analyses are done using X-ray
Fluorescence. The samples are fused using lithium metaborate. XRF analysis determines total
element concentrations that are reported as oxides.

For its internal QAQC, Intertek performs repeat analyses plus split sample analyses in every 15-20
samples. Furthermore, on the average, one standard reference material is inserted in every 40
samples, and one blank in every 60 samples.

Flowcharts of intertek sample preparation and analysis procedure flowsheets are presented in
Appendix 3.

12.4 Internal Check Assays - Intertek (Phils)
The Intertek laboratory in Manila has a Quality Assurance/Quality Control programs incorporated in
their sample preparation and analyses procedures. The laboratory regularly conducts duplicate
analysis of Ni and other elements as a check on analytical reproducibility within their own
laboratories. Repeats are routinely conducted on all elements being analyzed and are typically on
every 20th sample for the Intertek laboratory in the Philippines. The duplicate analyses are
completed upon both a split sample from the crushed pulp, or from the prepared disc for the XRD
analyses. All in all there are 92 (3.40%) XRF repeat analyses that are spread evenly throughout the
entire database, and 169 (6.25%) split samples from the pulp reanalysed.

In analyzing the correlation between the original and duplicate sample, the Variance between the
primary assay and the duplicate was computed as follows:

(a – b)
Var = ________ x 100

a

Where: a - is the original sample analyzed

b - is the duplicate sample analyzed and

Var - is the percentage relative difference.

To interpret the Variance value, a value of zero means the two values are identical and the
duplication is perfect, a negative value means the duplicate is higher, while a positive value means
the original is higher. Values less than 10% variance (either negative or positive), are considered

31


excellent when reviewing comparative samples within lateritic Ni deposit assays. [NB This
methodology is used in all sections of Chapter 12.0 Sampling and Assaying within this report.]

Internal Laboratory Comparative Statistics

Intertek (repeat assay)
Ni Co Fe Al Mg Si
Variance from 1st Assay 0.36% -0.28% 0.21% 0.33% 0.01% 0.17%

Duplicates = 1st Assay 0 3 0 0 1 0
Duplicates < 1st Assay 57 46 65 59 56 59
Duplicates > 1st Assay 35 43 27 33 35 33

Intertek (split assay)
Ni Co Fe Al Mg Si
Variance from 1st Assay -0.01% 0.43% 0.00% 0.23% -0.14% -0.06%

Duplicates = 1st Assay 3 9 1 1 0 1
Duplicates < 1st Assay 89 90 82 98 81 85
Duplicates > 1st Assay 77 70 86 70 88 83

Table 5: Variance of Internal Laboratory Duplicate Analyses

There is an excellent correlation for all of the elements within an internal repeat analyses with all
below Variances <1% (0.00 – 0.43%) as shown in Table 5, which is consistent with high precision
repeatability. There is generally a very even spread of the check assay being both higher and lower
than the primary assay which indicates that there is no systematic bias occurring in the check
analyses routine.

12.5 External Check Assays (MRL)
MRL has also set up its own QA/QC protocols vis-à-vis the laboratories’ sample preparation and
analytical procedures, which the author has observed in the field and analysed the results for this
report. The external laboratory checks determine the assaying laboratories to replicate a known
standard, the repeatability of the assay from the field splitting and the pulp repeats (i.e external and
internal repeats of the primary assays), the consistency of grade between laboratories, and the
determination of any bias within the sample preparation process through the analyses of the coarse
rejects. It is a comprehensive series of analyses compiled to ensure grade estimates are of the
highest calibre.

32


Nickel Standards
As a double check on the precision of the analytical procedures of the Intertek laboratory, nickel
standards were inserted by MRL into the sample runs at approximately 1 to 45 samples on the
average. A total of 70 nickel standards, representing 2.59 % of the 2,699 core samples were sent.
Many of these standards were purchased from Geostats Pty. Ltd of Australia, with 3 standards
prepared by MRL staff to save costs and to provide a greater range of Ni values. Six (6) types of
standards were used for the whole drilling course to date, with grade ranging from 0.001 to 1.51 %
Nickel.

The graphical representation of the standards data shows that the Ni grade is extremely consistent
within the standard and within most standards the check assays vary above and below the
standard’s value (Figure 8).

Figure 8: Graphs of Nickel Standards Assays.

Field Duplicates
The analytical reproducibility of field duplicate samples is a measure of the representativity of the
original split of the sample, a check on the reliability of the sample reduction procedure (splitting)
undertaken by MRL at the field area.

The field duplicates were sent together with the regular core samples for assaying. A total of 70 core
field duplicates (2.59% of the 2,699 core samples) were analysed by Intertek (Phils).

33


Field Duplicates Comparative Statistics

Ni Co Fe Al Mg Si
Variance from Assay -0.36% 0.68% 0.62% 0.63% 3.41% 0.81%
(Abs Variance from
Assay) 2.60% 6.59% 2.43% 3.08% 7.24% 2.67%

Field Duplicates = Assay 0 0 0 0 0 0
Field Duplicates < Assay 38 42 40 39 54 38
Field Duplicates > Assay 32 28 30 31 26 32

Table 6: Variance of Field Duplicate to Original Assays

The results presented in Table 6 range from -0.36% to 3.41% for all elements, which indicates that
there is an extremely high repeatability for all field samples for most elements. When reviewing the
Absolute Variance, i.e the maximum variance from the sample average, most values for the
elements are under 6% of the average grade which supports the consistency of the splitting method
and the reliability of the assays. The outliers with higher variance are Co which relates to the uneven
distribution of the Mn oxides which carry a significant portion of this element, and Mg which
highlights the occurrence of high Mg boulders in the Mg depleted limonite zone which can find their
way into split samples at varying percentages and alter grade dramatically (removal of 4 outliers
reduces ABS Variance from 7.24% to 4.92%). Reviewing the split of duplicate samples being higher or
lower in grade on average, the total count indicates that there is an equal chance of any duplicate
being higher or lower than the original assay.

The author confirms that the field splitting and sampling protocol was and is excellent and supports
the validity of the samples to be assayed for use in estimation purposes for all elements.

Coarse Rejects
The reanalysis of the coarse reject samples was undertaken as an internal check on the crushing and
sub-sampling procedures of Intertek to ensure that the samples taken for analysis were
representative of the bulk sample. A total of 21 coarse reject samples were submitted during this
program. The variance results for the coarse fraction post crushing in comparison to the primary
assay are shown in Table 7.

34

INDEPENDENT REPORT ON THE NICKEL LATERITE RESOURCE - AGATA SOUTH, PHILIPPINES, Agusan del Norte Province

INDEPENDENT REPORT ON THE NICKEL LATERITE RESOURCE - AGATA SOUTH, PHILIPPINES, Agusan del Norte Province

Empfohlen

Empfohlen

Weitere ähnliche Inhalte

Was ist angesagt?

Was ist angesagt? (20)

Ähnlich wie INDEPENDENT REPORT ON THE NICKEL LATERITE RESOURCE - AGATA SOUTH, PHILIPPINES, Agusan del Norte Province

Ähnlich wie INDEPENDENT REPORT ON THE NICKEL LATERITE RESOURCE - AGATA SOUTH, PHILIPPINES, Agusan del Norte Province (20)

Mehr von No to mining in Palawan

Mehr von No to mining in Palawan (20)

Kürzlich hochgeladen

Kürzlich hochgeladen (20)

INDEPENDENT REPORT ON THE NICKEL LATERITE RESOURCE - AGATA SOUTH, PHILIPPINES, Agusan del Norte Province