Caerus Mineral Resources plc announced it had completed Phase II drilling at its joint venture copper-gold mine development project in Troulli in Cyprus.
PHASE II
Phase II drilling focused on the epithermal gold target and potential extension to the former Troulli volcanogenic massive sulphide (VMS) deposit.
| Borehole No. | From (m) | To (m) | Mineralised Interval (m) | End of hole (m) | Copper (% Cu) | Gold (g/t Au) | Cu eq (% Cu) |
| TR22DD025 | 0.0 | 12.9 | 12.9 | 79.5 | – | 1.25 | – |
| 12.9 | 17.9 | 5.0 | – | 1.84 | – | – | |
| 24.2 | 29.4 | 5.2 | – | 1.26 | – | – | |
| 12.9 | 29.2 | 16.5 | – | – | – | 1.3 | |
| 62.5 | 79.5 | 17.0 | – | – | – | 0.98 |
The company and its partner Bezant Resources plc received assays for six drill holes, with TR22DD025 returning “encouraging” results.
MINERAL RESOURCE ESTIMATE
Due to unprecedented demand, the JV has sent the balance of samples to three laboratories in Ireland, Romania and Spain.
Caerus said that mining consultants Addison Mining remained on schedule to release an initial mineral resource estimate for Troulli by the end of March 2022.
The estimate will include dump and stockpile mineral resources.
JUBILEE METALS GROUP
The company added that Jubilee Metals Group plc has started metallurgical test work which was progressing well.
Emphasis is on copper-gold sulphide, gold oxide and copper-gold oxide mineralisation styles encountered at Troulli.
KOKKINAPETRA -TROULLI EXTENSION
Approved drilling for the Kokkinapetra – Troulli extension will target near-surface gold mineralisation together with copper-gold sulphide at depth.
ANGLISIDES
Caerus also reported the approval to drill test in April 2022 the high-grade near-surface mineralisation at the satellite Anglisides project, which was indicated in historic drilling.
Jubilee will be involved in assessing any resource by the next drill campaign so that the JV can potentially transport an upgraded feedstock to the Troulli plant for processing.