TSE-listed Adex Mining reports that its subsidiary, Tequila Copper, has entered into a “letter of understanding” with International Pursuit (TSE) to form a joint venture to develop Tequila’s Asia Pacific project in the Philippines.
Pursuit will fund a program to define the extent of the zone where a sample returned 1.5% copper over 850 ft. The company hopes to find more enriched reserves suitable for leaching and recovery by solvent
extraction-electrowinning. The new zone lies half-a-mile south of the Hinobaan deposit which has 100 million tonnes of 0.45% copper.
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