Caerus Mineral Resources PLC Troulli Diamond Drill Programme (5217M)
22 Septiembre 2021 - 1:00AM
UK Regulatory
TIDMCMRS
RNS Number : 5217M
Caerus Mineral Resources PLC
22 September 2021
22 September 2021
Caerus Mineral Resources PLC
('Caerus' or the 'Company')
Troulli Diamond Drill Programme
Caerus Mineral Resources (LON: CMRS), the exploration and
resource development company focused on developing mineral
resources in Europe to support the global "Clean Energy"
initiative, is pleased to inform Shareholders that diamond drilling
for Resource definition has commenced at the Troulli Project one
month ahead of schedule.
The diamond drill rig scheduled to arrive in Cyprus in October
has been delivered to site almost a month early. The rig was
transferred to the Troulli Project site on Friday 17 September 2021
and commenced drilling on Monday 20 September 2021.
Highlights
-- The Resource evaluation programme scheduled for Troulli
Project has commenced ahead of schedule
-- Hard rock samples will be collected and delivered to Jubilee
Metals Group ("Jubilee") for further detailed mineralogical test
work
-- The Company will capitalise on the current availability of
both a diamond and a scout drill rig to run two drill programmes in
parallel
-- Access to low-cost scout drill data enables the Caerus
exploration team to broadly define legitimate targets well-ahead of
more costly diamond drilling and the definition of potential
Mineral Resources
-- Diamond drilling will initially focus on sulphide
mineralisation in the former Troulli open pit, extensions of the
pit, the high-grade gold oxide zone and underlying sulphide
mineralisation.
-- Scout drilling will operate in advance of the diamond rig
testing the 1.5km long structure hosting impressive evidence of
hydrothermal activity (a prerequisite for Volcanogenic Massive
Sulphide formation) that may link the Troulli deposit with the
Kokkinapetra deposit.
-- Scout drilling will also test the 32,000m(2) surface area
covered by gold oxide mineralisation at Kokkinapetra and test for
underlying sulphide mineralisation.
-- Once scout drilling is completed, the rig will relocate to
other priority targets within the Caerus project portfolio and
delineate mineralisation in anticipation of follow-up by diamond
drilling
The rig will drill-out a variety of resources and targets
provisionally defined by the recent scout drilling programme with
the purpose of defining an NI 43-101 Mineral Resource and will
provide high-quality fresh samples for further mineralogical test
work being undertaken by Jubilee Metals Group ("Jubilee").
Commenting on the dual drill programme, chief executive officer
Martyn Churchouse said ; "The preliminary work undertaken over the
past few months is starting to deliver results and the benefits of
having two drill rigs available to us on a full-time basis is
becoming evident. We have a well-defined drill programme prepared
for Troulli and depending on the results of the scout drilling we
expect to be able to roll out the diamond programme to include the
prospective structure linking the Troulli and Kokkinapetra deposits
and potentially increasing resource tonnes well beyond our
projected estimates".
For further information , please visit
www.caerusmineralresources.com or contact:
Caerus Mineral Resources plc:
Martyn Churchouse info@caerusmineralresources.com
Chief Executive Officer +44 (0)1249 782162
--------------------------------
Novum Securities
--------------------------------
Jon Bellis +44 (0) 20 7399 9425
--------------------------------
Follow us on Twitter at @CaerusMineral
About Caerus Mineral Resources
Caerus Mineral Resources is a European focused copper-gold
resource development and exploration company with a portfolio of
mineral exploration licences located in Cyprus. The Country has a
well-developed infrastructure and history of mineral exploration
and production, which has been dormant over the last 50 years and
provides significant undiscovered value.
With investors recognising copper as one of the cornerstone
metals for the Clean Energy Transition centred upon the Electric
Vehicle and Stationary Energy sectors, Caerus is working to rapidly
expand its copper exploration and production objectives. The Caerus
licence portfolio includes 16 former mines which operated with an
average head grade of approximately 2% copper.
Caerus' licence portfolio comprises brownfield sites, where
historic mining has taken place, and greenfield licences, where
there has been no systematic exploration. The Brownfield sites and
the former high-grade copper-gold mines they host are evidence of
rock types and structures conducive to Volcanogenic Massive
Sulphide ("VMS") mineralisation. As VMS deposits characteristically
occur in camps or clusters, it is the Company's view that its
licences are prospective for both extensions to existing or
mined-out orebodies together with new discoveries.
The combination of brown and greenfield exploration provides
optionality and the opportunity for the Company to quickly build a
resource portfolio that can be commercially developed.
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
Qualified Persons
The content of this news release has been reviewed, verified,
and approved by H. Andrew Daniels, P. Geo in his capacity as a
Qualified Person as defined by National Instrument 43-101.
END
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
DRLUAUBRANUKUAR
(END) Dow Jones Newswires
September 22, 2021 02:00 ET (06:00 GMT)
Critical Mineral Resources (LSE:CMRS)
Gráfica de Acción Histórica
De Abr 2024 a May 2024
Critical Mineral Resources (LSE:CMRS)
Gráfica de Acción Histórica
De May 2023 a May 2024