Caerus Mineral Resources plc and its joint venture (JV) partner Bezant Resources plc said they had received encouraging assays from dump sampling and drilling at Troulli, Kokkinapetra and Anglisides in Cyprus.
TROULLI
The company reported that stockpile sampling returned a consistent average copper grade of 1.2% Cu over more than 639 metres of trenching with sections sampled at 5m intervals.
Troulli tailings sampling over 44m returned an average grade of 0.4% Cu and 0.2g/t Au, double the projected grade.
Caerus said this provided a further easily accessible low-cost resource for early cash flow.
Drilling on the fringes of the Troulli deposit has extended the surface profile of both copper and gold mineralisation.
KOKKINAPETRA
Caerus added that results from drilling of the 1.5km strike length of the Kokkinapetra extension of the Troulli deposit included 0.85% Cu eq over 28.10m from surface, 1.0g/t Au over 10.8m and 0.66% Cu eq over 29.2, also from surface.
The JV will conduct a ground geophysical survey to define better the next round of drill targets.
ANGLISIDES
Anglisides is the Troulli satellite project. Validation drilling returned a peak intercept of 1.18% Cu eq over 40m from surface.
Caerus said that a more comprehensive drilling programme would define a high-grade resource that can be processed off site at the future Troulli plant site.
ENCOURAGING
Chief executive Martyn Churchouse added that the results were very encouraging.
“We have increased our in-country technical staff complement to meet the increased workload and work is now underway on five separate projects.”