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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.

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