BELGRADE (Serbia), January 18 (SeeNews) – UK-based gold and copper miner Tethyan Resources has said it identified a new exploration target at the Kremice exploration target within the Suva Ruda license in southern Serbia.
Tethyan has conducted detailed mapping, stream sediment and soil sampling at Kremice, which has defined a 1,200 metre-long by 600 to 1200 metre-wide gold-molybdenum-copper soil anomaly, the company said in a statement on Wednesday.
The anomaly is west of and partly coincident with a 1000 metre by 1000 metre zone of manganese and zinc in-soil depletion and weakly anomalous lead-bismuth. The geochemical signature at Kremice is indicative of potential high-level porphyry style alteration, Tethyan said.
"The Kremice area was initially identified through spectral analysis of ASTER satellite imagery which recognised an area of alteration minerals typically associated with porphyry style deposits. These results of our follow-up geology mapping and soil sampling are highly encouraging, indicating a high-level magmatic-hydrothermal system which bears many geochemical similarities to the Rudnitza porphyry in the south of the Suva Ruda license," the president and CEO of Tethyan, Fabian Baker, said in the statement.
The molybdenum anomalism in soils is particularly elevated and covers an area of more than one square kilometre at above 10 parts per million (ppm) with individual samples up to 97 ppm. The company looks forward to advancing this area towards a drill decision during the course of the 2018 field programme, Baker said.
The company plans to follow-up the encouraging geochemical results and coincident zones of hydrothermal alteration with a ground magnetic survey and channel sampling of road cuts and outcrop, where possible, in order to define exploration drill targets.
Tethyan holds an option to purchase 100% of the Suva Ruda permit from Serbian company Deep Research who acquired it in late 2015.