The Caerus Mineral Resources plc and Bezant Resources plc joint venture said drilling results showed near surface copper mineralisation at the Anglisides licence, a satellite of the Troulli gold-copper project in Cyprus.
LIFE OF MINE
The JV expanded its ten-hole diamond drill programme to 16 holes to test the near surface copper potential for Anglisides and received assay results for the first 11 holes.
“The presence of easily accessible copper mineralisation at Anglisides offers an opportunity to increase the global Troulli JV mineral resource and extend the projected life of mine,” added the companies.
| Borehole ID | From(m) | To(m) | Intersection(m) | Grade(g/t Au) | Grade(% Cu eq) |
| AN22DD001 | 0.0 | 11.5 | 11.5 | 0.85 | 1.48 |
| AN22DD002 | 0.0 | 18.7 | 18.7 | 0.91 | 1.11 |
| AN22DD003 | 3.9 | 22.5 | 18.6 | 1.82 | 1.63 |
| AN22DD004 | 17.7 | 32.8 | 15.1 | 0.77 | 1.19 |
| AN22DD005 | 6.0 | 23.0 | 17.0 | 1.15 | 1.44 |
| AN22DD006 | 9.1 | 16.1 | 7.0 | 3.3 | 2.36 |
| AN22DD007 | 10.927.5 | 15.333.7 | 4.46.2 | 0.470.33 | 1.291.64 |
| AN22DD008 | 0.0 | 9.6 | 9,6 | 0.78 | 0.85 |
| AN22DD009 | No significant mineralisation | – | – | – | – |
| AN22DD0010 | 1.9 | 6.5 | 4.6 | 0.33 | 0.71 |
| AN22DD0011 | 0.0 | 8.0 | 8.0 | 0.82 | 0.83 |
PROCESSING PLANT
Caerus chief executive Charlie Long said material from Anglisides, which is approximately 25km from Troulli, was sufficiently valuable to allow for the extra trucking cost.
“With that goal in mind, these excellent drilling results, which show near surface mineralisation and copper equivalent grades of up to 2.36%, are very encouraging.
“The current plan envisages constructing a central plant at Troulli capable of processing various ore types.
“These would include near-surface oxides such as Anglisides’ gossans, deeper sulphide ores discovered at Troulli, as well as surface material, dumped or left unprocessed when mining stopped abruptly in the 1970s.”
DETAILED ENGINEERING
Bezant chairman Colin Bird added that it appeared that the material would be primarily free digging without the need for its own dedicated process plant.
“The addition of Anglisides suggest that our original prognosis of 8,000 tonnes per year contained copper for eight years, is very feasible.
“We are about to commence detailed engineering, which will include the phasing of ore types for early payback, thus maximising overall profitability.”