PHILIPPINES – Cadan Resources Corp. of Vancouver reports that its affiliate, Tribal Mining Corp., has poured the first gold from the T'Boli gold-silver mine since the project went into commercial production in South Cotabato.
Between Oct. 10 and November 30, the T'boli carbon-in-leach plant milled 1,881 tonnes of ore grading 5.2 g/t Au from existing stockpiles. The recovered gold weighed a total of 316 oz, and 497 oz of silver were also recovered. The average prices for the metal sold were C$1,680 per oz of gold and C$32.50 per oz of silver, for a combined value of C$547,032.
Cadan president and CEO Robert Butchart said, "Cadan's first gold pour is a fantastic milestone, reaching over half a million dollars in metal value. This confirms the mill is operational. We are very excited about what we have achieved."
In-depth information about the T'Boli project is posted at CadanResources.com.