Caerus Mineral Resources plc said it had identified significant copper and gold mineralisation in the dump evaluation programme and general exploration of the Kalavasos project in Cyprus.
EVALUATION
Gold grades in particular were in 85% of all samples collected and returned anomalous grades.
The company added that subject to metallurgical test work, the grades were considered sufficient to warrant an expanded evaluation programme.
Caerus will also assess dumps not yet tested together with other metal-bearing surface materials.
Representative samples have already been forwarded to Jubilee Metals Group for preliminary test work.
Larger bulk samples have been collected for dispatch.
| Sample No | Locality | Grade (Au g/t ) | Grade (Cu %) |
| JKLV001 | Kalavasos B | 0.36 | 0.14 |
| JKLV002 | Kalavasos B | 0.81 | 0.19 |
| JKLV003 | Kalavasos B | 0.69 | 0.07 |
| JKLV004 | Kalavasos B | 0.71 | 0.09 |
| JKLV005 | Kalavasos B | 0.72 | 0.17 |
| JKLV006 | Mousoulos | 0.64 | 0.16 |
| JKLV007 | Kalavasos A | 1.25 | 0.35 |
| JKLV008 | Kalavasos B | 0.02 | 0.23 |
| JKLV009 to JKLV012 | gossan samples reported | below | |
| JKLV013 | Platies | 1.52 | 0.11 |
| JKLV014 | Mavri Sykia | 0.25 | 0.12 |
| JKLV015 | Mavri Sykia(350m NNE) | 1.39 | 0.35 |
| JKLV016 | Mavri Sykia(275m NNE) | 0.15 | 0.07 |
| JKLV017 | Mavri Sykia | 1.15 | 0.09 |
GOSSANS
Caerus has also started assessing previously unexplored gossans found within its five licences.
Initial sampling on a small number of gossans has returned anomalous gold and copper mineralisation.
Peak gossan grades include sample JKLV011 returning 0.52% Cu and 1.75g/t Au and sample JKLV012 returning 0.48% Cu and 1.47g/t Au.
| Sample No | Locality | Grade (Au g/t) | Grade (Cu %) |
| JKLV009 | Kalavasos B | <0.01 | 0.13 |
| JKLV010 | Kalavasos B | 1.88 | 0.03 |
| JKLV011 | Kalavasos B | 1.75 | 0.52 |
| JKLV012 | Platies Mine | 1.47 | 0.48 |
WASTE TO REVENUE
The five exploration licences that make up the Kalavasos project host 14 former producing high-grade copper mines.
In addition to the potential for new copper discoveries, the project also has a large number of metal-bearing dumps including eight distinct areas of dumps on licence AE4608 alone.
Chief executive Martyn Churchouse said that the dump sampling to date at Kalavasos had been very successful and gave impetus to the company’s Waste to Revenue strategy.
“There are a considerable number of dumps still to be assessed and the programme is now continuing in parallel with a regional topographic survey that will enable the company to build tonnage estimates to complement grade data.”