CITY RESOURCES UNIT ACQUIRES PHILIPPINE MINE OPTION
<City Resources (Asia) Ltd>, a
locally listed unit of Australian based <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
site's potential. Further details were not available.
 REUTER
