33.3 C
Belgrade
Supported byspot_img
spot_img

Tethyan Resources PLC takes option over Serbian copper/gold prospect

Member of Europium Groupspot_img
Supported byspot_img

“There is sufficient space within the alteration system to host a major porphyry copper-gold system.”

AIM-listed junior Tethyan Resources PLC has taken an option over the Suva Ruda project in Serbia.

The licence ,170 km directly south of Belgrade and within the Raska ore district, comprises one exploration permit with a surface area of 87 sq km.

Supported by

Through the option Tethyan, which changed its name from Aurasian Minerals in July, can purchase 100% of the licence, or alternatively its current owner Deep Research, for €6mln cash plus mine construction costs.

Tethyan for its part has to carry out 2,000m of drilling this year, 5,000m by the end of 2018 and complete a preliminary economic assessment within six years and a fuller study in year seven.

It estimates the drill programme up until 2018 will cost £500,000.

Suva Ruda is in an area historically mined for lead and zinc but Tethyan said little exploration for copper or gold has been undertaken.

Two defined targets lie within the exploration licence: a high-grade lead and zinc veins on the edge of the Rudnitza porphyry and a well-defined porphyry dacite stock with significant copper and gold mineralisation, the ‘Rudnitza’ porphyry.

Peter Mullens, Tethyan Resources’ chief executive, added: “The project is centred around a dacite porphyry stock with potential dimensions of 1.2 kilometers by 0.8 kilometers.

“Within this zone of alteration several drill holes have intersected high-grade mineralisation with drill hole PDRC 04-04 bottoming in rock averaging 0.4% copper and 0.37 g/t gold.

“The outcropping mineralisation indicates that we are very high in the porphyry system and Tethyan personnel believe there is every chance of high-grade mineralisation continuing at depth.

“There is sufficient space within the alteration system to host a major porphyry copper-gold system.”

source: proactiveinvestors.co.uk

Supported byElevatePR Digital

Related News

CATL explores $1.5 billion fund to boost global battery supply chain

China's Contemporary Amperex Technology (CATL), the world's largest electric vehicle battery manufacturer, is in discussions with overseas sovereign wealth funds and private offices of...

Securing Europe’s critical raw materials: Addressing funding challenges for sustainable extraction

Bernd Schäfer, CEO of EIT Raw Materials, advocates for substantial investment in Europe's mining sector following the implementation of the Critical Raw Materials Act...

Strengthening global sustainability: The SCMA and critical minerals for climate goals

Canada's Minister of Energy and Natural Resources, Jonathan Wilkinson, together with Sweden's Minister for Energy, Business and Industry, Ebba Busch, announced Sweden's accession to...

Nickel mining and the green energy challenge: Balancing supply with environmental responsibility

Nickel is poised as a critical element in the global shift towards green energy, yet its extraction poses significant environmental challenges, recently highlighted by...
Supported by
Supported by
Supported by
error: Content is protected !!