Tethyan Resources PLC Geophysical Surveys Completed (7729R)
September 26 2017 - 2:01AM
UK Regulatory
TIDMTETH
RNS Number : 7729R
Tethyan Resources PLC
26 September 2017
September 26, 2017
TETHYAN RESOURCES PLC
GEOPHYSICAL SURVEYS COMPLETED AT THE SUVA RUDA AND GOKCANICA
PROJECTS IN SERBIA
Tethyan Resources plc ("Tethyan" or the "Company") is pleased to
announce that it has completed substantial geophysical surveys at
the Suva Ruda and Gokcanica Projects located in Serbia.
Interpretation of the data collected by the surveys is expected to
be completed and announced in October.
The surveys were conducted by the Canadian company Quantec
Geoscience, a world leader in the field, using their proprietary
'TITAN 24' system. TITAN 24 is an advanced system that collects two
separate geophysical surveys, Induced Polarisation ("IP") as well
as Magnetotelluric ("MT"). The advantages of the TITAN 24 system
over more traditional IP techniques is that the survey generates
data to greater depths (up to 1,500 metres depth), and with
improved resolution at shallower depths.
The method is well tested on porphyry systems worldwide; the aim
of the surveys is to gain indications of where different
lithologies, alteration styles and concentrations of mineralisation
might occur. The data will be used to better understand and
identify extensions to the areas which Tethyan has already drilled,
and locate new targets for future drilling.
At the Suva Ruda Project, the survey consisted of ten survey
lines, each 2.4 kilometres long and 200 metres apart, covering the
entire Rudnitza porphyry system where Tethyan have completed eight
drill holes to date. At the Gokcanica Project, five survey lines
were measured, each 400 metres apart, over a mountain ridge where
stream sediment and soil geochemistry indicated elevated levels of
gold, copper and other elements regarded as indicative of
porphyry-type mineralisation.
In preparation for the surveys, Tethyan was successful in
gaining land access permissions to hundreds of small agricultural
land plots, and from the municipal road and rail authorities as
well as the local military and police forces. This was the result
of a significant and long-term programme of community and
government engagement, led by Tethyan's dedicated Land and
Community Officer, Mr Marko Miletic.
Peter Mullens, CEO of Tethyan commented "We are pleased to have
completed this geophysical survey, it is a key step in building our
understanding of the deposit geology at Rudnitza and the
earlier-stage Gokcanica Project. In addition, Tethyan is grateful
to the support of the local people and authorities who have made
every effort to assist Tethyan in carrying-out this work. We look
forward to identifying new exploration targets which we will
follow-up with drilling in due course."
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
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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