JERSEY, UK, Nov. 2, 2017 /CNW/ -
Tethyan Resources plc (the "Company") (AIM:
TETH) (TSXV: TETH) is pleased to release results of the
TITAN 24 geophysical survey carried-out at the Rudnitza copper-gold
porphyry prospect within the Suva Ruda Project, Serbia. The results
are interpreted as highly encouraging by Tethyan's geologists,
showing a significant anomaly of coincident high chargeability and
low resistivity, that is a common signature of porphyry systems,
from a depth of approximately 300 metres below surface and
extending more than 1,200 metres to the depth limit of the survey
at 1,500 metres below surface.
At approximately 400 meters below surface the geophysical
anomaly indicates the possibility of two porphyry centres,
described as a 'double-headed porphyry', an interpretation which is
supported by the two distinct copper-gold-molybdenum soil sampling
anomalies Tethyan has previously defined. From 600 metres below
surface the geophysical anomaly combines into one large anomaly
extending approximately 1,500 metres north to south, and 400 metres
east to west, representing an exploration target of significant
scale.
Of particular importance, it is apparent that Tethyan's drilling
to date has not tested the main anomaly as the drill holes have all
been drilled above and to the east of the anomaly.
Diagrams representing these results, and showing the position of
drilling relative to the anomalies, can be found on Tethyan's
website at
https://www.tethyan-resources.com/2017-11_geophysics/.
A high chargeability anomaly is typically interpreted to
represent an elevated concentration of conductive sulphide
minerals, which in the case of a porphyry target may be pyrite yet
also copper-bearing minerals such as chalcopyrite and bornite. At
the Rudnitza porphyry, Tethyan's geologists have identified from
drilling so far that copper and gold mineralisation is best
developed where pyrite is the dominant sulphide mineral which in
turn is closely associated with copper-bearing chalcopyrite and
lesser bornite. In this survey, the chargeability level of the main
anomaly is unusually high, often exceeding 70 milliradians and up
to 120 milliradians, whereas the chargeability recorded in the area
of Tethyan's drilling to date is in the range of 30 to 60
milliradians.
Tethyan is highly encouraged by these results, and will be using
the data to plan future drilling programs which are expected to
commence in Q2 2018.
Fabian Baker, COO of Tethyan
commented: "These results have surpassed our hopes and expectations
for the survey. Although geophysical results are not conclusive
evidence of mineralisation, this is a compelling exploration target
as the strength and continuity of this anomaly is impressive. It is
also very interesting to note that our drilling to date has only
tested the margins of the anomaly. These results give us some clear
targets for next year's drilling, which we will begin planning and
permitting for right away."
Qualified Person
The technical information in this news release has been
reviewed by Tethyan's Chief Executive Officer, Peter Mullens, FAusIMM, who is a Qualified
Person as defined by National Instrument 43-101.
About Tethyan
Tethyan Resources Plc is a gold and base metal mineral
exploration company incorporated in England & Wales (company registration number 3781581).
Tethyan Resources listed on AIM (TETH.L) in 2004 and commenced
trading on the TSX Venture Exchange on September 6, 2017, under the symbol "TETH".
Tethyan Resources is focused on the Tethyan Metallogenic Belt in
Eastern Europe, mainly Serbia,
where it is acquiring and exploring a portfolio of quality precious
and base metals projects with known mineralisation and compelling
drill targets.
Tethyan emphasises responsible engagement with local communities
and stakeholders, and is committed to proactively implementing Good
International Industry Practice (GIIP) and sustainable health,
safety and environmental management.
More information can be found on our website:
www.tethyan-resources.com.
TSX Venture Exchange Disclaimer
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as such term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward Looking Statements
This news release contains forward-looking statements
relating to expected or anticipated future events and anticipated
results that are forward-looking in nature and, as a result, are
subject to certain risks and uncertainties, such as general
economic, market and business conditions, competition for qualified
staff, the regulatory process and actions, technical issues, new
legislation, uncertainties resulting from potential delays or
changes in plans, uncertainties resulting from working in a new
political jurisdiction, uncertainties regarding the results of
exploration, uncertainties regarding the timing and granting of
prospecting rights, uncertainties regarding the Company's ability
to execute and implement future plans, and the occurrence of
unexpected events. Actual results achieved may vary from the
information provided herein as a result of numerous known and
unknown risks and uncertainties and other factors.
SOURCE Tethyan Resources PLC