Tethyan Resources PLC on Tuesday said it has started a 2,000 metre drill programme at the Suva Ruda project in southern Serbia, with the aim of completing three to four holes to target areas adjacent to previous drilling to expand the project’s mineralisation.
Tethyan said it hopes to expand the footprint of mineralisation and test areas where mineralisation appears to be open, particularly to the north of previous drilling. Drilling will be carried out by Serbian contractor Drillex International, which completed a successful and highly professional programme for Tethyan in 2016 using two drill rigs.
“We are excited to commence the 2017 field program with drilling at Rudnitza. Tethyan has a full program planned for 2017 on its Serbian properties of Suva Ruda and Gokcinica, which includes drilling, IP Geophysics, surface mapping and geochemistry. This region of Serbia is developing into a new porphyry epithermal field with the potential to make a major discovery,” said Chief Executive Peter Mullens.
“In parallel, stakeholder engagement with local residents and authorities to explain the field programme taking place this year is happening. Tethyan is regularly distributing a Community Newsletter as well as meeting with villagers,” the mining company added.
First assay results from the latest drill programme are anticipated for release in late June 2017. In addition to the planned field program Tethyan is reviewing all of its previous work and utilizing Simon Meldrum, an experienced geologist from South America, to aid with its understanding of the Rudnitza porphyry system and surrounding area.
Tethyan shares were untraded on Tuesday, last trading at 4.08 pence.