Tethyan Resources PLC Commencement of Drill Programme at Suva Ruda (2424D)
25 April 2017 - 7:35PM
UK Regulatory
TIDMTETH
RNS Number : 2424D
Tethyan Resources PLC
25 April 2017
April 25 2017
TETHYAN RESOURCES PLC
TETHYAN RESOURCES HAS COMMENCED A 2000 METRE DRILL PROGRAMME AT
ITS SUVA RUDA PROJECT LOCATED IN SOUTHERN SERBIA.
Tethyan Resources pie ("Tethyan" or the "Company") is pleased to
announce that it has commenced drilling with drill contractor
Drillex International d.o.o on its Rudinitza Porphyry Project
located in South West Serbia. The plan is to drill approximately
2,000 metres of diamond core in 3 to 4 drill holes.
The aim of the drilling programme is to drill adjacent to the
previous results in order 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 d.o.o., which completed a successful and highly
professional programme for Tethyan in 2016, using two drill rigs
and consisting of PQ and HQ size diameter core. Half core will be
analysed by ALS Laboratories in Serbia and Romania. Tethyan will
implement a comprehensive QA/QC (quality assurance/quality control)
programme including standard, duplicate and blank samples.
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.
Peter Mullens, CEO of Tethyan commented; "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."
First assay results from this drill programme are anticipated
for release, 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.
About Tethyan
Tethyan is an AIM quoted junior exploration company exploring
for copper and gold within the Tethyan mineral belt. Tethyan has an
experienced Board and technical team. Currently Tethyan holds
several licences in Serbia and is looking for other copper and gold
projects in Eastern Europe, specifically Serbia and Bulgaria.
Southern Arc (TSXV: SA), a strategic investor in Tethyan, will hold
29.9% of the Company on completion of the Southern Arc Subscription
and the Newmont Acquisition. Southern Arc brings considerable
corporate and exploration experience to Tethyan.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For further information please contact:
Tethyan Resources PLC +44 1534 881 885
Peter Mullens (CEO) pjm@tethyan-resources.com
Cairn Financial Advisers
LLP +44 (0) 207 213 0880
James Caithie / Sandy
Jamieson
SP Angel Corporate Finance
LLP
Broker +44 (0) 20
Ewan Leggat 3470 0470
This information is provided by RNS
The company news service from the London Stock Exchange
END
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