Grant will fund initial drilling of three holes
Kochang permit application sent, Gubong decision imminent
Initial metallurgical test work gives good recoveries, average grades
US$380,000 raised through a private placement
Final expenditure done, feasibility study submission imminent
Only feasibility study left to do to complete farm-in with Southern Gold
Non-problematic ore won't require complicated, expensive extraction
Philippines-focused explorer flies north to South Korea
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