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Mining Group: New copper/gold discovery in the Philippines

Contributed by Fox-Davies Capital

Mining Group has announced the discovery of a new, high potential mineralised zone at Tagpura North, part of the Comval Project in the , which has delivered peak assays of up to 3.58% copper and 12.52 grams per tonne (g/t) gold from rock chips - some of the highest grades to date. The company has also delivered its first resource for the project of 32.675Mt at 0.42% copper and 0.13g/t gold for 136.1 kt of contained copper and 138,900 oz of contained gold.

This is an important milestone for Mining Group, with the Inferred resource estimated by independent geological and resource estimation consultants Cube Consulting. The newly discovered Tagpura North skarn, located only 750m from the Tagpura open pit mine, has the potential to further build on this resource base.

Importantly, the maiden resource includes a high grade resource of 8.987 Mt at 0.63% copper and 0.2g/t gold, which is all at surface and expected to have a low stripping

Mining Group has defined a 500m by 300m target zone, which is a significantly larger footprint than the Tagpura East resource. This zone is open along strike to the northeast, and surface mapping and sampling activities are continuing along with ground magnetics to delineate drill targets. Drilling is planned to begin within six weeks.