Tethyan Resources PLC Results of Geophysics (4363V)
03 November 2017 - 1:45AM
UK Regulatory
TIDMTETH
RNS Number : 4363V
Tethyan Resources PLC
02 November 2017
Tethyan Resources plc
Results of Geophysics at the Rudnitza Porphyry, Suva Ruda
Project
Tethyan Resources plc ("Tethyan' or 'the Company') is pleased to
release results of the TITAN 24 geophysical survey carried-out at
the Rudnitza copper-gold porphyry prospect within the Suva Ruda
Project, Serbia. The results are interpreted as highly encouraging
by Tethyan's geologists, showing a significant anomaly of
coincident high chargeability and low resistivity, that is a common
signature of porphyry systems, from a depth of approximately 300
metres below surface and extending more than 1,200 metres to the
depth limit of the survey at 1,500 metres below surface.
At approximately 400 meters below surface the geophysical
anomaly indicates the possibility of two porphyry centres,
described as a 'double-headed porphyry', an interpretation which is
supported by the two distinct copper-gold-molybdenum soil sampling
anomalies Tethyan has previously defined. From 600 metres below
surface the geophysical anomaly combines into one large anomaly
extending approximately 1,500 metres north to south, and 400 metres
east to west, representing an exploration target of significant
scale.
Of particular importance, it is apparent that Tethyan's drilling
to date has not tested the main anomaly as the drill holes have all
been drilled above and to the east of the anomaly.
Diagrams representing these results, and showing the position of
drilling relative to the anomalies, can be found on Tethyan's
website at
https://www.tethyan-resources.com/2017-11_geophysics/.
A high chargeability anomaly is typically interpreted to
represent an elevated concentration of conductive sulphide
minerals, which in the case of a porphyry target may be pyrite yet
also copper-bearing minerals such as chalcopyrite and bornite. At
the Rudnitza porphyry, Tethyan's geologists have identified from
drilling so far that copper and gold mineralisation is best
developed where pyrite is the dominant sulphide mineral which in
turn is closely associated with copper-bearing chalcopyrite and
lesser bornite. In this survey, the chargeability level of the main
anomaly is unusually high, often exceeding 70 milliradians and up
to 120 milliradians, whereas the chargeability recorded in the area
of Tethyan's drilling to date is in the range of 30 to 60
milliradians.
Tethyan is highly encouraged by these results, and will be using
the data to plan future drilling programs which are expected to
commence in Q2 2018.
Fabian Baker, COO of Tethyan commented: "These results have
surpassed our hopes and expectations for the survey. Although
geophysical results are not conclusive evidence of mineralisation,
this is a compelling exploration target as the strength and
continuity of this anomaly is impressive. It is also very
interesting to note that our drilling to date has only tested the
margins of the anomaly. These results give us some clear targets
for next year's drilling, which we will begin planning and
permitting for right away."
Qualified Person
The technical information in this news release has been reviewed
by Tethyan's Chief Executive Officer, Peter Mullens, FAusIMM, who
is a Qualified Person as defined by National Instrument 43-101.
About Tethyan
Tethyan Resources Plc is a gold and base metal mineral
exploration company incorporated in England & Wales (company
registration number 3781581). Tethyan Resources listed on AIM
(TETH.L) in 2004 and commenced trading on the TSX Venture Exchange
on September 6, 2017, under the symbol "TETH".
Tethyan Resources is focused on the Tethyan Metallogenic Belt in
Eastern Europe, mainly Serbia, where it is acquiring and exploring
a portfolio of quality precious and base metals projects with known
mineralisation and compelling drill targets.
Tethyan emphasises responsible engagement with local communities
and stakeholders, and is committed to proactively implementing Good
International Industry Practice (GIIP) and sustainable health,
safety and environmental management.
More information can be found on our website:
www.tethyan-resources.com.
Tethyan Resources Contact
Tethyan Resources PLC +44 1534 881 885
Fabian Baker (COO) fabian@tethyan-resources.com
Cairn Financial Advisers
LLP +44 (0) 207 213 0880
James Caithie / Sandy
Jamieson
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR")
Forward Looking Statements
This news release contains forward-looking statements relating
to expected or anticipated future events and anticipated results
that are forward-looking in nature and, as a result, are subject to
certain risks and uncertainties, such as general economic, market
and business conditions, competition for qualified staff, the
regulatory process and actions, technical issues, new legislation,
uncertainties resulting from potential delays or changes in plans,
uncertainties resulting from working in a new political
jurisdiction, uncertainties regarding the results of exploration,
uncertainties regarding the timing and granting of prospecting
rights, uncertainties regarding the Company's ability to execute
and implement future plans, and the occurrence of unexpected
events. Actual results achieved may vary from the information
provided herein as a result of numerous known and unknown risks and
uncertainties and other factors.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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