TVI RESOURCE Development (Phils.) Inc. has completed exploration drilling at the Balabag epithermal gold project near the miner?s operating copper-zinc mine at Canatuan, Siocon, Zamboanga del Norte.

In a report sent via e-mail, TVIRD said the drilling results provided new data for a resource estimate update due October or early November and confirmed a down dip extension of the mineralization in the Tinago vein system.

The 2010 program covered a total of 3,196.25 meters with 30 drill holes and expanded the overall area of mineralization for Balabag.

Significant mineralized zones intersected in the recent drill holes allowed for a re-interpretation of the vein arrays occurring within the Tinago vein system.

An updated third-party resource table is due in late September or early October, followed by a resource estimate update around late October and early November.

TVIRD said it expected to confirm the ?core? resource of 50,000 gold equivalent ounces and to launch the internal scoping study immediately to come up with a start-up development decision by late 2010 or early 2011.

The recent drill program was completed in June 2010 with a cumulative total of 3,196.25 meters in 30 drill holes. Tests on new and previously drilled cores was finished in August 2010.

This campaign brings the cumulative total meters drilled at Balabag to 14,765.40 meters.

Re-interpretation and sampling of drill core from previous campaigns resulted in additional mineralization continuing from the intersections in the 2010 drilling campaign.

TVIRD owns the Balabag property, which is covered by Mineral Production Sharing Agreement MPSA 086-97-IX.

In the meantime, copper production remains steady at Canatuan, according to TVIRD?s parent company, Canada-based TVI Pacific Inc.

The mine is also up for expansion. TVI controls an extensive 352-square-kilometer land package surrounding the Canatuan mine that the company refers to as the Greater Canatuan Tenement area.