Royalty agreement secured at Sagay project
- Celsius Resource’s subsidiary Tambuli Mining Company Inc has signed a Silica Royalty Agreement with Western Mining Ventures & JL Capinpin Aggregates.
- The Royalty stream agreed has the potential to deliver material revenue to TMCI.
- TMCI is entitled to a net royalty percentage on all silica mined and produced.
Celsius Resources is pleased to announce its Philippine subsidiary Tambuli Mining Company, Inc., has entered into a royalty agreement with Western Mining Ventures and JL Capinpin Aggregates.
As part of the agreement, TMCI is entitled to a net royalty percentage on all silica mined and produced at the applicable specification from its Sagay Silica Project, which will cover a total of 10 hectares at Sherman Hill.
The silica deposit is approximately 5km west south west from the Sagay Copper/Gold prospect which is situated on Nabiga-a Hill where a total coring meterage of 25,076.2m of drilling across 28 diamond drill holes were previously completed, and where TMCI is currently drilling 7 diamond drill holes totalling 4,400 metres.
The Silica will be mined under a quarry permit located within TMCI’s tenement area denominated as EP-000003-VI in Sagay City, Negros Occidental, Philippines.
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