Caerus Mineral Resources plc and its joint venture partner Bezant Resources plc said they planned to expand the Troulli copper project in Cyprus.
The project is a strategic hub comprising the Troulli, Anglisides and Kokkinopetra licences.
ANGLISIDES
Anglisides lies near Troulli and is a potential satellite resource from which ore could be fed into any future Troulli plant.
Caerus has to date drilled 10 holes as part of the current Anglisides drill programme for a total of 431.2 metres.
The company focused on the near-surface southern copper-gold gossan target and noted visible native copper and sulphide mineralisation present at shallow depths in all holes.
A further three holes will be drilled before the rig relocates to test the northern gossan for an additional four holes.
Caerus has commissioned a drilling contractor for a further 2,700m of drilling for a total 40 holes.
MINERAL RESOURCE ESTIMATE
The target for the current drill programme is to combine its results with the historic data to generate an initial mineral resource estimate (MRE) sufficient to allow for a preliminary economic assessment.
Subject to results, an Anglisides mineral resource could be included in the financial modelling of the Troulli project.
TROULLI & KOKKINAPETRA
Caerus added that Addison Mining was helping to optimise drillhole location as part of the resource expansion programme.
This might include some limited infill drilling, but the focus will be on step-out work between Troulli and the Kokkinapetra prospect located 1.5km to the east of Troulli comprising 14 holes for 900m.
The 1.5km extension, known locally as Mavroumouti, is another expansion exercise testing the resource in all directions with special focus to the east.
Caerus will drill eight holes for 600m at Kokkinapetra prospect.
The exploration team will also trace the mineralisation between the Gold Hill, the source of high-grade gold oxide mineralisation, and former Troulli open pit.
The team will additionally follow up the deeper mineralisation found close to the southern bounding fault.
SURVEYS
In the first week of May 2022, a geophysical contractor will start ground magnetic and IP surveys in and around Troulli and extending to Kokkinapetra.
Drilling of Mavroumouti is likely to be scheduled after the ground geophysical survey to allow for more accurate siting of drill collars and in anticipation of additional blind targets that might be generated by the survey.
PENDING RESULTS
Drill results for 20 holes from the Troulli (10 holes) and Anglisides (10 holes) projects are pending assays from external laboratories.
MULTIPLE TARGETS
Caerus chief executive Martyn Churchouse that the initial MRE for Troulli was the beginning of the process of building a mine.
“Opportunity exists to add further to the resource from extensions as well as from the satellite targets such as Anglisides.
“Jubilee [Metals Group plc] test work is reaching a point where decisions can soon be made with respect to plant design, throughput capacity, mine planning and layout.
“The on-site exploration team have multiple targets to follow up in and around Troulli which confirms Caerus’ view that there is an opportunity to expand the current mineral resource.”