Caerus Mineral Resources plc reported results of residual gold in dumps and in new targets at the Kalavasos project licences in Cyprus.
KALAVASOS
The project consists of five Kalavasos licences and the Pano Lefkara and Layia licences.
The area includes several abandoned mines including Platies, associated waste dumps and exposed gossans.
Caerus said that widespread ancient mine workings and slag dumps remain from pre-Roman era exploitation.
In many cases, strong gossanous alternation at surface was also targeted for gold and silver.
RESULTS
Caerus said that the first batch of grab samples from recent exploration near the Platies Mine area returned peak gold assays of 7.65g/t Au, 2.83g/t Au and 2.74g/t Au.
Corresponding copper grades peaked at 0.48% Cu.
The company added that the results warranted further detailed follow up, including scout drilling, and has planned a comprehensive programme of work.
| Sample ID | Type | Description | Grade (g/t Au) | Grade (% Cu) |
| 19071 | Grab | Gossan | 0.16 | 0.08 |
| 19072 | Grab | Mixed waste dump | 1.23 | 0.37 |
| 19073 | Grab | Mixed waste dump | 2.83 | 0.34 |
| 19074 | Grab | Mixed waste dump | 0.41 | 0.18 |
| 19075 | Grab | Slag fragments | 0.44 | 0.28 |
| 19076 | Grab | Mixed waste dump | 2.74 | 0.15 |
| 19077 | Grab | Mixed waste dump | 0.88 | 0.48 |
| 19078 | Grab | Waste Dump – Old Workings | 0.43 | 0.35 |
| 19079 | Grab | Leached Sulphide Zone – Platies pit | 7.65 | 0.11 |
| 19080 | Grab | Kaolinite alteration Platies pit | 0.08 | 0.70 |
| 19081 | Grab | From Platies pit NW | 1.39 | 0.14 |
SIGNIFICANT SCOPE
“Preliminary results from grab samples across various sites within the suite of Kalavasos licences has returned very encouraging results particularly for the presence of both residual gold in dumps and in new targets,” said chief executive Martyn Churchouse.
“Kalavasos hosts 14 former producing mines and as such there is a large volume of surface material that needs to be assessed that could contain residual copper and gold values.
“From work undertaken by Caerus to date and further validated by these new results, there appears to be significant scope to build a gold resource based initially around dump and stockpile material and subject to further investigation other hard rock sources.”