25.3 C
Belgrade
Supported byspot_img
spot_img

UK-based Tethyan signs deal to acquire Serbia’s Taor

Member of Europium Groupspot_img
Supported byspot_img

UK-based gold and copper miner Tethyan Resources said it signed an agreement to acquire the entire capital of Serbian company Taor from Balkan Minerals Limited.

Upon completion of the deal, Tethyan will own or hold an option over exploration licenses totalling approximately 350 square kilometres in the historic Raska lead and zinc mining district in Southern Serbia, the UK-based company said in a statement on Tuesday.

Taor holds two exploration licences, namely Kremnice and Kaznovici, totalling approximately 100 square kilometres, situated adjacent to Tethyan’s optioned Suva Ruda license, Tethyan said.

Supported by

“We have already begun to demonstrate extensive copper-gold porphyry mineralisation at Rudnica which remains open in all directions. Now, with respect to zinc, Tethyan will hold rights over an entire district which includes three historical resources and multiple exploration targets which we believe to have significant exploration upside,” the president and CEO of Tethyan, Fabian Baker, said in the statement.

The closing of the transaction remains subject to various conditions, including the completion by Tethyan of satisfactory due diligence and the approval of the deal by its shareholders and the TSX Venture Exchange.

Pending closing of the deal, Tethyan will commence an initial drill programme within the Kremice license in order to test for extensions to the Kizevak lead-zinc-silver mine and verify historical drill and audit sampling results.

Source: seenews

Supported byElevatePR Digital

Related News

Renewable energy boom spurs demand for copper and critical minerals: Emphasizing responsible mining

The global push towards renewable energy is set to significantly increase demand for critical minerals and metals such as lithium, copper, manganese and rare...

Euro Manganese advances with successful commissioning of high-purity manganese facility

Euro Manganese Inc. has successfully completed the commissioning of its high-purity manganese Demonstration Plant at the Chvaletice Manganese Project in the Czech Republic. This...

Rio Tinto Assures on 2500 Pages – There is a Solution for Every Danger

Rio Tinto executed a move announced six months ago – they published drafts of environmental impact studies on how harmful the lithium mine in...

Geopolitical struggle over Central Asia’s rare-earth reserves

Central Asia, encompassing Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, Uzbekistan, Afghanistan and Mongolia, holds vast untapped reserves of rare-earth minerals. Recent global developments have thrust these...
Supported by
Supported by
Supported by
error: Content is protected !!