Tethyan Says Drilling In Serbia Shows "Extensive Mineralised System"

LONDON (Alliance News) - Tethyan Resources PLC on Thursday said drilling at Rudnitza at the ...

Alliance News 14 September, 2017 | 12:34PM
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LONDON (Alliance News) - Tethyan Resources PLC on Thursday said drilling at Rudnitza at the Suva Ruda exploration permit in Serbia confirmed a "very extensive mineralised system".

It highlighted intersections from 4 drill holes, drilled to a total of 2,127.6 metres, including 460 metres at 0.21% copper and 0.20 grams per tonne gold from the surface in hole RDD-006, and 260 metres at 0.22% copper and 0.20 grams per tonne gold from 6 metres below surface at hole RDD-005.

"We are pleased that further drilling at Rudnitza has confirmed that this is a very extensive mineralised system. These results show good continuity and significantly add to our understanding of the geological setting of the mineralisation. Rudnitza is evidently a large mineralised system with numerous zones as yet undrilled," said Chief Executive Officer Fabian Baker in a statement.

"At least five phases of porphyry intrusives have been identified in the drill core, each with variable styles of alteration and intensities of mineralisation. It is evident that certain intrusive phases are better mineralised than others. Tethyan's future exploration and drilling will focus on targeting these higher grade units," Baker added.

Shares in Tethyan were down 4.0% at 3.00 pence Thursday.

By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
Tethyan Resources PLC 2.86 GBX -8.35 -
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