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TVI Pacific Commences Drilling at Copper-Zinc-Gold Siennalynn Property

TVI Pacific Inc. (TSX:TVI), (OTCQX:TVIPF), announced today that its Philippine operating affiliate, TVI Resource Development Inc., has begun drilling at the recently acquired, highly prospective, Copper-Zinc-Gold Siennalynn property.

The Stage 1 drilling program underway is designed to assess the extent and quality of the near-surface mineralization and to begin drilling a number of prospects that have potential for major new copper resources.

  • Drilling began on October 19th, 2010

  • Seven shallow holes to assess near-surface mineralization (total of 500 or1,6400 feet)

  • Two deeper holes to explore potential intrusive-related copper prospects (total of 700 or 2,296 feet)

  • Completion of the Stage 1 drilling program is expected mid-Q1 2011

  • While Stage 1 is underway, additional test pitting, soil sampling, trenching and mapping will be ongoing in preparation for Stage 2.

Stage 1 Drill Program

The Stage 1 program will drill an initial seven holes at the near-surface Pinili prospect that has been the site of small-scale, direct-shipping-ore mining over the past few years. Based on results provided by the small-scale operator, recent field work by TVI and a reinterpretation of previous exploration data acquired by major international mining companies, this component of the drill program is targeting potential new sources of ore near the current Canatuan operation.

The Pinili Prospect is a short trucking distance of about 25 kilometres (15.5 miles) from TVI's operating mine at Canatuan and could extend the mine life of the current project.

In addition, the Stage 1 program will test two targets at Nanao East and Nanao West, to explore the tenement's potential to host intrusive-related copper mineralization, which if successful, would add major new resources to the company's inventory.

It is anticipated that this drilling will be completed by mid-Q1, 2011 with assays and evaluations completed by the end of the same quarter. While Stage 1 drilling is ongoing, the exploration team will be conducting test pitting, soil sampling, trenching and mapping, in preparation for the Stage 2 Drill program outlined in our initial press release.

Stage 2 Drill Program

Assuming the initial 7 holes at the Panili Prospect are successful, TVI anticipates drilling additional holes in this area. By mid-2011, approximately 3,000 meters (9,842 feet) of exploratory drilling will be carried out on prospects that could host hydrothermal copper mineralization. These prospects include Bailos, Abueva, Tatfu, and Rodrige.

The extent of this additional drilling will be determined as progress is evaluated during Stage 1, and will be the subject of further updates.

NORTH ZAMBOANGA AIRBORNE GEOPHYSICAL SURVEYS ONGOING

As indicated in the news release dated August 13, 2010, a helicopter-supported geophysical survey has been initiated covering all TVI's tenements in the Zamboanga peninsula including the areas surrounding the operating Canatuan mine (Greater Canatuan Tenement area). The Greater Canatuan Tenements are expected to host additional volcanogenic massive sulphide (VMS) deposits similar to that currently being mined. It is hoped that this survey will help identify deposit targets.

To date, the airborne survey has flown over 2,114 line-kilometres (1,313 miles) acquiring magnetics/radiometric data covering 26,640 hectares (65,828 acres). The program has been divided into two parts: the magnetics/radiometrics program currently being flown over most of the TVIRD tenements; and a second program that will acquire Versatile Time-Domain Electromagnetic (VTEM) data over selected, appropriate targets, including the Greater Canatuan Tenement area.

The balance of the 131,308-hectare (324,469 acre) Part 1 program will be surveyed in the coming weeks. Part 2 of the program is anticipated to be completed by year-end, barring any unforeseen circumstances.

ZINC CIRCUIT UPDATE

As described in TVI's Official Discussion Forum on Facebook on August 17, 2010, the objective of the commissioning process for the zinc circuit is to continuously make changes until the largest volume of concentrate (both copper and zinc) is produced with the highest grade and with the best metal recovery, taking into consideration the full extent of input factors.

Zinc Circuit Timeline

  • In the early stages of the zinc circuit commissioning in May-June this year, it was found that acceptable copper/zinc separation was not being achieved using the 'recipe' initially chosen. As a result, the zinc circuit was temporarily suspended on August 13 and additional metallurgical testing was carried out to determine a better 'recipe' for metal separation and recovery.

  • Extensive metallurgical testing of the Canatuan ores has been conducted by reputable third parties and an optimum 'recipe' involving combinations of reagents and plant configurations for the process flow sheet has been decided.

  • The company expects to resume on-site testing in early November. However, it is expected that commissioning of the revised process flow sheet will continue for some time until acceptable copper/zinc recovery is achieved.

Source: TVI Pacific Inc.

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