Metals Exploration secures rights over Batong Buhay copper-gold project

15th Jun 2026 10:39

(Sharecast News) - Metals Exploration said on Monday that it had secured exclusive rights to explore, develop and operate the Batong Buhay porphyry copper-gold project in Kalinga Province, northern Philippines.

The AIM-traded firm said the 440-hectare licence area has received approval from the local indigenous community and support from permit holder Philippine Mining Development Corporation, allowing initial exploration work to begin immediately ahead of a drilling programme expected in the second half of 2026.

The project contains at least two known porphyry deposits, Dickson and Maalinao North.

Historical drilling returned intersections including 160.93 metres at 0.92% copper and 0.60 grams of gold per tonne at Dickson, and 198.12 metres at 1.15% copper and 0.10 grams of gold per tonne at Maalinao North.

Dickson has a historical non-JORC-compliant resource of 86.9m tonnes grading 0.60% copper and 0.25 grams of gold per tonne, while the previously untested area between the two deposits could potentially expand the mineralised envelope.

"Following extensive due diligence, it is the company's view that the Batong Buhay Project is one of the best, undeveloped advanced porphyry copper-gold targets in the Philippines, having returned significant mineralised widths and grades from historical drill testing and production," said chief executive Darren Bowden.

Metals Exploration said it would now carry out LIDAR, magnetic and radiometric surveys, geological mapping and geochemical sampling before using the results to design its drilling programme.

At 1022 BST, shares in Metals Exploration were up 6.61% at 13.54p.

Reporting by Josh White for Sharecast.com.

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