Caerus Mineral Resources plc said that the Troulli copper project in Cyprus had been selected for a joint venture with Bezant Resources plc.
TROULLI
The two companies will hold site meetings during the first two weeks of September to review the project comprising the Troulli, Kokkinapetra and Anglisides licences.
The partners will also agree a programme for diamond drilling and mineral resource estimation for Troulli.
Other work includes detailed sampling programmes specifically for mineralogical and metallurgical test work, bulk sampling, site surveys and preliminary economic assessment leading to a mining plan and processing plant design.
Caerus said that the remaining Cypriot projects (Kalavasos, N Mathiatis and Mala) and their assorted metal-bearing surface materials and hard rock mineralisation will also be reviewed with input from metal recovery company Jubilee Metals Group.
REVENUE
Chief executive Martyn Churchouse added that the joint venture was a significant step in the company’s development.
“Our efforts over the past few months to broaden our footprint in the brownfield exploration space in Cyprus with two key acquisitions has resulted in the opportunity to bundle together licences and their associated mineralised surface materials and hard rock resources to create projects that meet the expectations of our preferred partners.
“Our dual strategy of ‘Waste to Revenue’, the reprocessing of waste materials, tailings and ore stockpiles together with the ongoing delivery of hard rock VMS and gold oxide ores gives us the ideal platform to deliver revenue-generating mineral resources and projects in the shortest possible time frame.”