The Philippines is one of the most prolifically mineralised countries in the World, lying squarely on the Pacific 'Rim of Fire' and believed to host mineral resources with potential to achieve World rankings of 2nd for gold, 3rd for copper and 5th for nickel.
It has been estimated that little more than 5% of the land area of the Philippines has been subject to modern exploration.
SRK (UK) Limited and SRK Exploration Services Limited have acted as consulting geologists to SEMCO since 1999 and have variously reported:
" ... gold is found throughout the country in the form of lode or placer deposits with the principal producing districts being Baguio & Paracale (Luzon), Masbate (Visayas) and Surigao and Masara (Mindanao). Generally observed that the largest and richest deposits tend to lie in the vicinity of the Philippine Fault Zone. Recently, gold exploration has been directed towards epithermal deposits."
" ... The southernmost island of the Philippines - Mindanao - is a mineral-rich island with numerous, small scale gold operations, plus a number of major gold/copper deposits [including] the Boyungan Deposit on the north of the island which has an inferred mineral resource of 219m tonnes of combined sulphide and oxide material with an average grade of 0.81% copper and 0.74 g/t gold."
SEMCO's properties are situated in the south of the Surigao District, within the Philippine Fault Zone. The locality is overlain with mineral claim titles but has seen little modern exploration.