Negros Island Property – Sulphur (a granted exploration license)
Property of 4,052 hectares (10,000 acres) located 15 km north of city of Dumaguete, Negros Island, Province of Negros Oriental, and 3 km from the tidewaters of the Visayan Sea.
Extensively explored in 1960s mostly by Benguet Corporation; completed 178 drill holes totaling approximately 24,500 meters.
In 1970s, G. R. Oca, Consultant, and Philippine Bureau of Mines calculated ore reserve estimates based on drill results:- 59 million tonnes of mineable resources and 24 million tonnes of drilled indicated resources for an aggregate of 83 million tonnes, averaging 30% sulphur in native and sulphide form.
Deposit mineable by open pit.
Excellent potential to increase resources to well over 100 million tonnes.
APMC has granted a private Philippine company an option to purchase this property for US$1.5 million. Consideration is payable in three instalments over six years starting in 2010, subject to confirmation of title by Philippine government. No instalment payment has been received to date and the agreement has legally ended.
