Sign up Australia
Proactive Investors - Run By Investors For Investors

Tethyan Resources expands land position in Serbia with two new licences

The two licences cover 200 square kilometres (sq km) and are situated in the south of the Timok magmatic complex in eastern Serbia..
Copper wire on huge reels
The complex is host to many significant porphyry and epithermal copper-gold deposits

Eastern Europe focused explorer Tethyan Resources PLC (CVE:TETH) has increased its footprint in Serbia, with the granting of two new exploration licences called Bucje and Zukovac.

The two licences cover 200 square kilometres (sq km) and are situated in the south of the Timok magmatic complex in eastern Serbia.

"We are very pleased to continue to grow our land position in Serbia and to have secured exploration licenses in the Timok area," said Fabian Baker, the president and chief executive of Tethyan said.

READ - Tethyan Resources identifies new copper-gold porphyry exploration target at Rudnica

"It is an area well known to hold potential for the discovery of significant copper and gold."

Known deposits on the Timok magmatic complex include Bor, a copper-gold high-sulphidation deposit which was in production throughout most of the 20th Century.

There is also Majdenpek, a copper-gold porphyry, which is still in production today.

More recently, Cukari Peki  was discovered by Reservoir Minerals, which was subsequently acquired by Nevsun Resources in 2016.

The two licenses are valid for an initial period of three years, after which the firm can apply to extend for  a further three and finally two years, for a total of eight years, before the holder is required to apply for a mining permit.

On Friday last week, Tethyan revealed it had identified a new copper-gold porphyry exploration target adjacent to the Rudnica porphyry on the Suva Ruda exploration license.

READ - Tethyan Resources set for C$1.2mln raise

The new target, called Rudnica North, was initially identified by soil sampling and is located 500 metres north of Tethyan's previous drilling at its flagship Rudnica copper-gold porphyry project in southwestern Serbia.

Rudnica North displays a similar geophysical and geochemical signature to Rudnica, suggesting that the two areas may be linked at depth., Tethyan told investors.

The announcement came as part of the publication of the results of channel sampling at Rudnica.

Tethyan shares are at C$0.29.

View full TETH profile View Profile

Tethyan Resources PLC Timeline

Related Articles

September 07 2018
Consolidation is ahead for junior miners due to the pressure on costs, says new CEO Tim Livesey
June 07 2018
"We acknowledge the continuing disconnect between our share price and the value of our assets when assessed in terms of the in-situ value of our resource and reserve ounces."
May 16 2018
It has hired engineer Hatch Ltd to look at a potential autoclave to produce gold bars

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