TIDMTETH
RNS Number : 6974Q
Tethyan Resources PLC
14 September 2017
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Tethyan Resources plc
Results of New Drill Holes at Rudnitza Copper-Gold Prospect,
Serbia
Tethyan Resources PLC ("Tethyan" or the "Company") (AIM:TETH /
TSX-V:TETH) is pleased to announce results of the drilling
programme completed in July 2017 at the Rudnitza copper-gold
porphyry prospect within the Suva Ruda exploration permit in
Serbia. This drill programme consisted of 4 diamond drill holes for
a total of 2,127.6 metres.
Highlight intersections from these drill holes include:
-- Drill hole RDD-006 460 m @ 0.21% copper and 0.20 g/t gold from surface
(including 20 m @ 1.04 % copper and 0.20 g/t gold from 92 m)
and
-- Drill hole RDD-005 260 m @ 0.22% copper and 0.20 g/t gold from 6 m
(including 12 m @ 0.78% copper and 0.13 g/t gold from 116 m)
Assay results details are provided in Table 1 below:
Drill Easting Northing Elevation Dip Azimuth Total From To Length Copper Gold
Hole (m) Depth (m) (m) (m) Grade Grade
ID (m) (%) (g/t)
--------- -------- ---------- ---------- ---- -------- ------- ----- ------ ------- ------- -------
RDD-005 473,890 4,787,657 596 -65 30 535.7 6 266 260 0.22 0.20
including 116 128 12 0.78 0.13
366 535.7 169.7 - 0.15
-------------------------------------------------------------------- ----- ------ ------- ------- -------
RDD-006 474,020 4,787,640 622 -80 325 500.6 0 460 460 0.21 0.20
including 92 112 20 1.04 0.20
-------------------------------------------------------------------- ----- ------ ------- ------- -------
RDD-007 473,816 4,787,670 577 -60 140 611.6 0 572 572 0.11 0.16
including 106 186 80 0.30 0.16
-------------------------------------------------------------------- ----- ------ ------- ------- -------
RDD-008 474,039 4,787,804 579 -60 210 479.7 138 479.7 341.7 0.17 0.24
--------- -------- ---------- ---------- ---- -------- ------- ----- ------ ------- ------- -------
Table 1: Summary of significant drill hole intersections
(Coordinates are WGS84 UTM Zone 34).
Fabian Baker, COO of Tethyan, commented: "We are pleased that
further drilling at Rudnitza has confirmed that this is a very
extensive mineralised system. These results show good continuity
and significantly add to our understanding of the geological
setting of the mineralisation. Rudnitza is evidently a large
mineralised system with numerous zones as yet undrilled."
The results of these drill holes have expanded the known extent
of the Rudnitza porphyry system, and have returned long intervals
of porphyry-style stockwork copper mineralisation hosted in
multi-phase porphyritic dacite/diorite intrusions. The true widths
of the drill intersections cannot be determined with the
information available as mineralization is disseminated throughout
this large system.
Tethyan's geologists, with support from highly experienced
consulting geologist Simon Meldrum, are currently interpreting the
results and drill core logging with the aim of vectoring towards
higher-grade mineralisation in future drilling. At least five
phases of porphyry intrusives have been identified in the drill
core, each with variable styles of alteration and intensities of
mineralisation. It is evident that certain intrusive phases are
better mineralised than others. Tethyan's future exploration and
drilling will focus on targeting these higher grade units.
The surface expression of the Rudnitza porphyry system is
characterised by coincident copper, gold and molybdenum geochemical
soil anomalies which Tethyan has defined over an area of
approximately 1,500 m N-S and 600 m E-W. Drilling to date has been
restricted to a small area in the southern end of the anomaly. A
summary of all of results of Tethyan's drilling at Rudnitza to date
is provided in Table 2 below.
Drill Easting Northing Elevation Dip Azimuth Total From To Length Copper Gold
Hole (m) Depth (m) (m) (m) Grade Grade
ID (m) (%) (g/t)
--------- -------- ---------- ---------- ---- -------- ------- ----- ------ ------- ------- -------
RDD-001 473,927 4,787,653 604 -85 136 584.6 0 567 567 0.28 0.45
including 122 158 36 1.22 0.38
-------------------------------------------------------------------- ----- ------ ------- ------- -------
RDD-002 474,022 4,787,637 622 -76 165 461.8 6 74 68 0.11 0.23
including 98 320 222 0.24 0.27
354 440 86 0.16 0.30
--------- -------- ---------- ---------- ---- -------- ------- ----- ------ ------- ------- -------
RDD-003 473,873 4,787,734 581 -60 140 710 42 327 285 0.31 0.33
including 102 118.7 16.7 1.55 0.20
657 695 38 0.14 0.27
--------- -------- ---------- ---------- ---- -------- ------- ----- ------ ------- ------- -------
RDD-004 474,005 4,787,752 592 -60 210 558.6 48 404 356 0.38 0.31
including 102 132 30 1.45 0.39
476 502 26 0.12 0.19
--------- -------- ---------- ---------- ---- -------- ------- ----- ------ ------- ------- -------
RDD-005 473,890 4,787,657 596 -65 30 535.7 6 266 260 0.22 0.20
including 116 128 12 0.78 0.13
366 535.7 169.7 - 0.15
-------------------------------------------------------------------- ----- ------ ------- ------- -------
RDD-006 474,020 4,787,640 622 -80 325 500.6 0 460 460 0.21 0.20
including 92 112 20 1.04 0.20
-------------------------------------------------------------------- ----- ------ ------- ------- -------
RDD-007 473,816 4,787,670 577 -60 140 611.6 0 572 572 0.11 0.16
including 106 186 80 0.30 0.16
-------------------------------------------------------------------- ----- ------ ------- ------- -------
RDD-008 474,039 4,787,804 579 -60 210 479.7 138 479.7 341.7 0.17 0.24
--------- -------- ---------- ---------- ---- -------- ------- ----- ------ ------- ------- -------
Table 2: Results of all Tethyan's drilling at the Rudnitza
porphyry to date.
Tethyan is immediately rehabilitating the drilling sites and
access roads in accordance with recent warranties which Tethyan
made to the local municipality and community, demonstrating the
Company's commitment to sustainable operation.
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
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.
Sampling Methodology
Drilling and sampling procedures were carried out in-line with
standard industry best practice. Drill core recoveries averaged in
excess of 99%. Samples consisted of two metre composites of half
drill core which were delivered to ALS Global in Bor, Serbia.
Samples were prepared by drying, crushing to 70% passing 2mm,
riffle split to provide a 1 kg sample which is pulverised to better
than 85% passing 75 microns. Samples were analysed for gold by 30g
fire assay and AAS, and for a 33 multi-element suite by four acid
digestion and ICP-AES.
About Tethyan
Tethyan Resources Plc ("Tethyan Resources") 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. This announcement contains inside
information for the purposes of Article 7 of EU Regulation
596/2014.
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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