JERSEY, UK, Jan. 17, 2018 /CNW/ -
Tethyan Resources plc (TSXV: TETH) ("Tethyan"
or the "Company") is pleased to announce results from soil
sampling and mapping at the Kremice exploration target located in
the northern part of the Suva Ruda license in Southern Serbia,
which indicate potential for gold-copper porphyry mineralisation
over a large area.
Highlights:
- 1,200 metre long by up to 1,200 metre wide
gold-molybdenum-copper in soils anomaly at Kremice;
- Situated within the Suva Ruda license approximately 10
kilometres north of the Rudnitza porphyry, from which Tethyan
released drilling results in 2017, the soil sampling results at
Kremice show many similarities to Rudnitza, in particular a strong
molybdenum anomaly that is a common characteristic of porphyry
deposits;
- Kremice is an area of ancient exploration and small-scale
mining of high-grade lead-zinc-copper veins.
Tethyan has conducted detailed mapping, stream sediment and soil
sampling at Kremice (Figures 1 and 2), which has defined a
1200 m long by 600 to 1200 m wide gold-molybdenum-copper ± zinc ± tin
soil anomaly (Figure 1). This anomaly is west of and partly
coincident with a 1000 m by
1000 m zone of manganese ± zinc
in-soil depletion and weakly anomalous lead-bismuth. The
geochemical signature at Kremice is indicative of potential
high-level porphyry style alteration.
http://files.newswire.ca/1577/Tethyan__Figure_1.png
Detailed mapping (Figure 2) shows that the area of
gold-copper-molybdenum geochemical soil anomalism at Kremice is
related to northwest and northeast trending phyllic and argillic
alteration zones with sub-vertical, sheeted and stockwork
quartz-pyrite veins. The andesitic volcanic and volcaniclastic host
rocks are intruded by quartz diorite porphyry stocks and dykes
which display weak propylitic, argillic and silica alteration. This
suite of volcanic and intrusive rocks is flanked to the southeast
by a large granodiorite pluton with localised areas of weak
stockwork quartz-pyrite-magnetite veins.
http://files.newswire.ca/1577/Tethyan_Figure_2.jpg
Several historical adits have been identified during the
fieldwork, spatially associated with the strongest zones of
alteration in the volcanic suite and along the
serpentinite-granodiorite contact.
Tethyan plans to follow-up the encouraging geochemical results
and coincident zones of hydrothermal alteration with a ground
magnetic survey and channel sampling of road cuts and outcrop,
where possible, in order to define exploration drill targets.
Fabian Baker, President and CEO
of Tethyan commented: "The Kremice area was initially identified
through spectral analysis of ASTER satellite imagery which
recognised an area of alteration minerals typically associated with
porphyry style deposits. These results of our follow-up geology
mapping and soil sampling are highly encouraging, indicating a
high-level magmatic-hydrothermal system which bears many
geochemical similarities to the Rudnitza porphyry in the south of
the Suva Ruda license. The molybdenum anomalism in soils is
particularly elevated and covers an area of more than 1 square
kilometre at above 10 ppm with individual samples up to 97 ppm. We
look forward to advancing this area towards a drill decision during
the course of the 2018 field programme."
About Tethyan
Tethyan Resources plc is a gold and base metal mineral
exploration company incorporated in England & Wales. 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.
Qualified Person
The technical information in this news release has been reviewed
by Tethyan's Senior Vice-President Exploration and Development,
Peter Mullens, FAusIMM, who is a
Qualified Person as defined by National Instrument
43-101.
Quality Assurance and Quality Control
Tethyan follows industry best practise for its geochemical
sampling programmes. Samples are delivered by Tethyan personnel
directly to the ALS Chemex preparation laboratory in Bor, Serbia.
Soil samples undergo gold and multi-element analysis using
analytical method code ME-MS41.
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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