&lt;City Resources (Asia) Ltd> a locally listed unit of Australian based &lt;City Resources Ltd> said it acquired an 80-day option to buy exploration development and operating rights for mining property on the island of Luzon in the Philippines. It said in a statement that average assay results of random samples of the Brescia ore bearing body on the 459-hectare site showed 2.4 grammes of gold 64 grammes of silver and 1.9 grammes of copper per tonne. It said it will exercise the option if tests confirm the sites potential. Further details were not available.
CITY RESOURCES UNIT ACQUIRES PHILIPPINE MINE OPTION