Reservoir Commences Exploration Program on 100% owned Timok Permits
01 Ottobre 2013 - 10:13PM
Marketwired Canada
Reservoir Minerals Inc. (TSX VENTURE:RMC)(PINKSHEETS:RVRLF)(BERLIN:9RE)
("Reservoir" or the "Company"), is pleased announce that contractors have been
selected to undertake an approximately 56 line-kilometre CSAMT (controlled
source audio magneto telluric) geophysical exploration survey on the Company's
100% owned Nikolicevo and Kraljevica exploration permits within the prospective
Timok Belt of eastern Serbia. Concurrently the Company is undertaking its own
geochemical and magnetometry geophysical surveys over these permits. The
Nikolicevo and Kraljevica explorations permit are immediately east and south of
the Brestovac-Metovnica exploration permit, where significant copper-gold
mineralization has been discovered at the Cukaru Peki Project by the Company
with joint venture partner Freeport McMoRan Exploration Corporation.
Dr. Simon Ingram, President and CEO of Reservoir Minerals Inc. commented: "Given
that the volcanic centres that host the Bor and Cukaru Peki mineralization
typically occur in belts, we believe that there is potential for additional
discoveries of this type of mineralization along trend within our 100%-owned
permits."
Nikolicevo and Kraljevica Exploration Permits:
The Nikolicevo and Kraljevica Exploration Permits cover an area totalling 188.16
square kilometers in the highly prospective Timok Magmatic Complex, eastern
Serbia, which includes the world-class Bor-Majdanpek mining and smelting complex
with reported historical production of 6 million tonnes of copper and 300 tonnes
of gold (9.65 million ounces gold) (BRGM publication BRGM/RC-51448-FR, 2002).
The western limit of the Nikolicevo exploration permit is approximately 4.5
kilometres east of the Cukaru Peki discovery, (Latest company Timok News
Release, September 9, 2013, Timok Project). A map showing the location of the
exploration permits is provided on the Company website (Timok permit map).
The geology in both permits includes late Cretaceous andesites and
volcaniclastics, which host the copper-gold mineralization in the Bor district
and the Cukaru Peki discovery in the Brestovac-Metovnica exploration permit, and
overlying Miocene sediments. Company geologists have identified structures that
trend south from the Bor district through these permits.
Qualified Person:
Dr. Duncan Large, Chartered Engineer (UK) and Eur. Geol., a Qualified Person
under National Instrument 43-101 Standards of Disclosure for Mineral Projects of
the Canadian Securities Administrators and a consultant to the Company, approved
the technical disclosure in this release and has verified the data disclosed.
About the Company:
Reservoir Minerals Inc. is an international mineral exploration and development
company run by an experienced technical and management team, with a portfolio of
precious and base metal exploration properties in Europe and Africa. The Company
operates an exploration partnership business model to leverage its expertise
through to discovery.
This news release includes certain "forward-looking statements" under applicable
Canadian securities legislation. Such forward-looking statements or information,
including but not limited to those with respect to exploration results, involve
known and unknown risks, uncertainties, and other factors which may cause the
actual results, performance or achievements of Reservoir Minerals Inc. to be
materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements or information. Such
factors include, among others, the actual prices of commodities, the factual
results of current exploration, development and mining activities, changes in
project parameters as plans continue to be evaluated, as well as those factors
disclosed in documents filed from time to time with the securities regulators in
the applicable Provinces of British Columbia and Alberta.
Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization
of Canada accepts responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Reservoir Minerals Inc.
Chris MacIntyre
VP Corporate Development
+1.416.703.0010
chris@reservoirminerals.com
www.reservoirminerals.com
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