In total, Tethyan drilled four holes on the Rudnitza copper-gold porphyry target and the best intersections of the final three holes indicated metal over a width of 356m at 0.38% copper and 0.31 g/t gold from 48m.
Another hole showed similar grades over 285m, also reasonably near the surface while there were high grade areas within both holes of 1.45% and 1.55% copper.
Fabian Baker, Tethyan’s chief operating officer, said the drilling, its first at the site, had expanded the porphyry-style system's footprint.
“Given that the project is situated in an area of excellent infrastructure, with a history of mining and with good access to the European market, the copper and gold grades encountered thus far make a strong case for further exploration and development at Rudnitza."
Tethyan has an option to acquire 100% of the Suva Ruda permit from local Serbian company Deep Research. A second program of drilling is planned for the second half of 2017.