Tethyan Resources PLC Commencement of Drill Programme at Suva Ruda (2424D)

TIDMTETH

RNS Number : 2424D

Tethyan Resources PLC

25 April 2017

April 25 2017

TETHYAN RESOURCES PLC

TETHYAN RESOURCES HAS COMMENCED A 2000 METRE DRILL PROGRAMME AT ITS SUVA RUDA PROJECT LOCATED IN SOUTHERN SERBIA.

Tethyan Resources pie ("Tethyan" or the "Company") is pleased to announce that it has commenced drilling with drill contractor Drillex International d.o.o on its Rudinitza Porphyry Project located in South West Serbia. The plan is to drill approximately 2,000 metres of diamond core in 3 to 4 drill holes.

The aim of the drilling programme is to drill adjacent to the previous results in order to expand the footprint of mineralisation and test areas where mineralisation appears to be open, particularly to the north of previous drilling.

Drilling will be carried out by Serbian contractor Drillex International d.o.o., which completed a successful and highly professional programme for Tethyan in 2016, using two drill rigs and consisting of PQ and HQ size diameter core. Half core will be analysed by ALS Laboratories in Serbia and Romania. Tethyan will implement a comprehensive QA/QC (quality assurance/quality control) programme including standard, duplicate and blank samples.

In parallel, stakeholder engagement with local residents and authorities to explain the field programme taking place this year is happening. Tethyan is regularly distributing a Community Newsletter as well as meeting with villagers.

Peter Mullens, CEO of Tethyan commented; "We are excited to commence the 2017 field program with drilling at Rudnitza. Tethyan has a full program planned for 2017 on its Serbian properties of Suva Ruda and Gokcinica, which includes drilling, IP Geophysics, surface mapping and geochemistry. This region of Serbia is developing into a new porphyry epithermal field with the potential to make a major discovery."

First assay results from this drill programme are anticipated for release, late June 2017. In addition to the planned field program Tethyan is reviewing all of its previous work and utilizing Simon Meldrum an experienced geologist from South America to aid with its understanding of the Rudnitza porphyry system and surrounding area.

About Tethyan

Tethyan is an AIM quoted junior exploration company exploring for copper and gold within the Tethyan mineral belt. Tethyan has an experienced Board and technical team. Currently Tethyan holds several licences in Serbia and is looking for other copper and gold projects in Eastern Europe, specifically Serbia and Bulgaria. Southern Arc (TSXV: SA), a strategic investor in Tethyan, will hold 29.9% of the Company on completion of the Southern Arc Subscription and the Newmont Acquisition. Southern Arc brings considerable corporate and exploration experience to Tethyan.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

For further information please contact:

 
 Tethyan Resources PLC       [phone] 
 Peter Mullens (CEO)         [e-mail] 
 
 Cairn Financial Advisers 
  LLP                        [phone] 
 James Caithie / Sandy 
  Jamieson 
 
 
SP Angel Corporate Finance 
 LLP 
 Broker                       +44 (0) 20 
 Ewan Leggat                   3470 0470 
 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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April 25, 2017 05:35 ET (09:35 GMT)