The Mankayan Project of Crescent Mining and Development Corporation is located in Barangays Guinaoang and Bulalacao of the Municipality of Mankayan, Benguet Province, Philippines. The project is covered by Mineral Production Sharing Agreement (MPSA) No. 057-96-CAR that allows the proponent to explore, develop and utilize minerals under the strict supervision of the Philippine government and in a responsible manner with the end in view of developing host communities, bring about economic activity and be able to generate government income by way of taxes.
Initial exploration on the area had been based on the concept that the intersection of two (2) structures, the NE continuation of the Suyoc vein system and the SE extension of the Lepanto fault would be mineralized. Since its discovery by Mankayan Mineral Development Company (“MMDC”) under the late George T. Scholey, a number of companies have explored and drilled the area.
Since 1973 a total of 54 holes were drilled at varying depths. Presently, a plan to drill six to ten holes will be conducted to satisfy the requirements to complete the Pre-Feasibility Study.
Exploration activities have led to the discovery and delineation of the Guinaoang deposit, a large deep-seated porphyry copper gold deposit. The deposit remains open at depth and along strike.
In addition to drilling, Crescent and its partners have engaged the services of renowned technical consultants to complete the following milestones:
- Geological modeling undertaken by Mr. Ciceron Angeles in March 2009.
- JORC 2004-compliant resource estimate completed by Snowden Mining Industry Consultants of Australia in June 2009.
- Maiden Ore Reserve Estimate compiled by Mining Plus of Australia in 2010.
- Conceptual mine design and modeling completed by Mining Plus in 2010.
- Metallurgical test work and conceptual process design conducted by AMTEC and TWP Engineering in 2010.
- Wet season water quality baselining study conducted by GHD Engineering in 2012.
- Review of Conceptual mine design and financial modeling carried out by GHD Engineering in 2014.
- Alternative mining options study completed by Mining Plus in 2019.
- Dry season water quality baselining study completed by GHD in 2019.
- JORC 2012- compliant resource estimate completed by Derisk Geomining Consultants in 2020 resulting to doubling of the resource.
- Rapid Environmental and Social Assessment (RESA) conducted by GHD Engineering in 2020.