BY LEANDER C. DOMINGO
QUEZON, Nueva Vizcaya—FCF Minerals Corporation could after all continue its operation after its expected closure in 2027 with the identification of an exploration target near its Runruno Mine here.
According to the London-based Metals Exploration (MTL), a mineral resources exploration and development company that owns 100 percent of the FCF Minerals-operated Runruno Gold Project, the exploration target is located in the municipality of Dupax del Norte in this province.
“The exploration target could potentially extend ore processing operations at Runruno after ore feed from the Runruno Financial and Technical Assistance Agreement (FTAA) tenement is exhausted,” MTL said.
It added that the potential ore feed from Dupax del Norte could utilize the existing Runruno process plant infrastructure and be re-purposed to accommodate a different type of ore feed and that any ore from Dupax would likely be processed into a saleable mixed metal concentrate.
Darren Bowden, MTL chief executive officer, said the Dupax del Norte prospect “provides an exciting opportunity to explore a potential extension of ore processing at Runruno.”
“It is a VMS target with rock samples indicating very high grades of up to 15.47 grams per ton gold and 7 percent copper, with minimal drilling expected to bring it into a resource-ready basis for operation,” Bowden said.
A VMS target in mining is a volcanogenic massive sulfide deposit which is a valuable source of metals like copper, zinc, lead, silver and gold.
Bowden also explained that following a recent review of the prospect, which included taking fresh rock samples, they are optimistic about the potential that it presents.
He said there is an old mined area on the tenement that allows them to assess the scale of the previous operation and to advance their understanding of the target’s potential.
“We are currently finalizing environmental and forestry approvals and aim to commence exploration as soon as possible. It is too early to say how long it could extend ore processing operations at the Runruno process plant, but I am confident that it has the potential to provide an extension, even if it is only for a few years,” Bowden said.
According to MTL, the Dupax del Norte tenement has been applied for by Woggle Corporation, which is 40 percent owned by the company and its subsidiaries, with 60 percent being owned by the staff pension plan of its FCF Minerals Corp. subsidiary.
In addition to FCF Minerals Corp. or the Runruno Mine, MTL completed in August 2024 the acquisition of the Yamang Mineral Corp. or YMC which holds an extensive exploration tenement in the prospective Abra area covering 16,200 hectares.
Under Philippine mining law, exploration tenements can only be a maximum of 40 percent foreign-owned. However, the processing of ore from any mining operation can be 100 percent foreign-owned.
MTL said the company will optimize the ownership structure relating to the Dupax del Norte project should the exploration program be successful and if the tenement is converted to a mining lease.
The company said it had previously relinquished an interest in the Dupax del Norte tenement, which it re-applied for in 2023.
The project area is covered by an Exploration Permit Application ExPA 000168 RII whose tenement covers an area of 3,101.11 hectares.
It is approximately 20 kilometers directly southwest of the company’s existing Runruno Mine site and five kilometers from Dupax del Norte Municipal Hall.