Sign up Australia
Proactive Investors - Run By Investors For Investors

Tethyan Resources kicks off drilling at priority Kizevak target after closing Taor deal

The purchase of Taor's exploration licenses, which lie adjacent to the Suva Ruda project, increases its landholding to 443 sq km
Tethyan Resources kicks off drilling at priority Kizevak target after closing Taor deal
Multiple zinc, lead, silver targets have been found. Pictured is lead

Eastern Europe-focused explorer Tethyan Resources PLC (CVE:TETH) has closed the previously announced acquisition of Serbian company Taor and kicked off an initial 1,000m drill programme at the priority Kizevak zinc-lead-silver brownfield target on the licences.

The purchase of Taor's exploration licenses (ELs), which lie adjacent to Tethyan's Suva Ruda project, increases Tethyan's landholding to a total of 443 sq km  in Southwest Serbia and northern Kosovo.

READ: Tethyan Resources amends option to acquire Suva Ruda exploration license

The drilling is targeting zinc-lead-silver mineralisation identified by historical exploration and along strike from the inactive Kizevak open-pit mine, currently held by a third party.

The anomaly is defined by a 500 by up to 260 m zinc-lead-silver soil anomaly (500-2380 ppm (parts per million) zinc, 500-8000 ppm lead, 2-18 ppm silver).

"We see the acquisition of Taor as a pivotal moment for Tethyan," said Fabian Baker, the president and chief executive at Tethyan.

"Tethyan now controls a very significant land package in a historic mining district that includes multiple historic zinc-lead-silver and copper-gold exploration targets, as well as previously-producing small-scale mines.

"During the process of finalizing the acquisition, Tethyan was granted the right to begin permitting for a drill programme, and it is a testament to our local team and the support of the local communities that we were able to secure the required permissions and build the drill pads in a matter of weeks.

READ: Tethyan Resources says Taor acquisition increases potential of making major discovery

"We have immediately commenced a 1,000 metre drill programme within an area of historical exploration targets, along-strike from the past-producing Kizevak mine."

In keeping with the terms of the acquisition, mining industry veteran Dr Radomir Vukcevic has been appointed a director and will assume the role of vice-president – ddevelopment.

Soil and rock sampling recently completed on the Taor licenses returned multiple zinc-lead-silver and gold-copper anomalies, including the Kizevak southern soil anomaly, which is 800m south of the Kizevak open pit.

This is defined by a 1,300 by 150 m lead-zinc soil anomaly and coincident 400 by 290 m gold-silver soil anomaly.

There is also the Sastavci gold-silver-lead-zinc target: defined by a 290 by 230 m gold-silver-lead-zinc soil anomaly, the Bukovik Lithocap, the Lipovica and the Plavkovo targets.

Tethyan shares stand at C$0.19 at the time of writing.

View full TETH profile View Profile

Tethyan Resources PLC Timeline

Related Articles

gold
April 03 2018
Stratex is now under the tutelage of a new, experienced chief executive and on the lookout for opportunities
manganese 25th element on periodic table
April 09 2018
The company is seeking shareholder approval to be renamed Element 25 Limited.
underground mine
July 20 2018
Annual guidance for 2018 is 82,000-88,000 oz at AISC of US$680-730 oz

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use