Tuesday, 14th September 2004 (2754 views)

BacTech Mining has announced it has signed a new understanding with Perth's Medusa Mining for gold-copper deposits in the Philippines.

The focus of the joint venture deal will be the identification of refractory gold-copper deposits that are amenable to BacTech's bioleaching process and will allow each company equal ownership of any projects generated as a result.

It is hoped that tests and future projects will result in a newly created corporate entity owned by both BacTech and Medusa.

The first project to be conducted by the companies is 'Dizon' located near to Manila, with historical records suggesting it could contain around 1.3 million ounces of gold.

BacTech has developed and patented bioleach technology for the treatment of refractory ores and concentrates to enhance the recovery of gold, silver and base metals.

 

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