Mining Group's (ASX: MNE) appointment of Equinox chief operating officer Colin Johnstone to its board strengthens the company as it progresses exploration at the Comval copper gold project in the Philippines.
Johnstone joins Mining Group as a non-executive director, bringing more than 30 years experience in the copper, gold and metalliferous mining industries.
His previous roles include vice-president of operations and chief operating officer at Equinox, prior to the C$7.6b acquisition by Barrick Gold Corporation (NYSE: ABX, TSE: ABX).
Johnstone was also chief operating officer for Sino Gold Mining when Eldorado Gold Corporation (NYSE: EGO, TSE: ELD) acquired it for A$2.4b. Most recently, he was managing director of Territory Resources (ASX: TTY).
Winton Willesee, chairman of Mining Group, said Johnstone was joining the company at an exciting time.
"The Company has been progressing the exploration and evaluation of its Comval copper-gold project in the Philippines and has recently identified several new targets, following the successful initial drill results at the exciting Bayag Bayag prospect," Willesee said.
"Mr Johnstone has a strong track record in creating significant shareholder wealth, with a history of successful construction and operation of mines in offshore jurisdictions. His extensive operational experience will complement the Board's existing skill set as we continue to grow the business."
Mining Group's 80%-owned Comval project is showing early signs of potential to be a major copper-gold porphyry system, with evidence of a widespread and intensive zoned alteration system.
The project is located in the Compostela Valley, an established copper-gold producing region in the Mindanao province of the Philippines.
The first intercept at the Bayag Bayag target, and in particular the extensive and intense skarn alteration that extends for more than 700 metres along strike, provides further indication that the Tagpura/Bayag Bayag prospects have the potential to host a large copper orebody.
Assays received show a broad intersection of 44 metres at 0.64% copper from 39 metres, including 28 metres at 0.88% copper.
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