Tethyan Resources PLC Results of New Drill Holes at Rudnitza (6974Q)

TIDMTETH

RNS Number : 6974Q

Tethyan Resources PLC

14 September 2017

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Tethyan Resources plc

Results of New Drill Holes at Rudnitza Copper-Gold Prospect, Serbia

Tethyan Resources PLC ("Tethyan" or the "Company") (AIM:TETH / TSX-V:TETH) is pleased to announce results of the drilling programme completed in July 2017 at the Rudnitza copper-gold porphyry prospect within the Suva Ruda exploration permit in Serbia. This drill programme consisted of 4 diamond drill holes for a total of 2,127.6 metres.

Highlight intersections from these drill holes include:

   --     Drill hole RDD-006  460 m @ 0.21% copper and 0.20 g/t gold from surface 

(including 20 m @ 1.04 % copper and 0.20 g/t gold from 92 m)

and

   --     Drill hole RDD-005  260 m @ 0.22% copper and 0.20 g/t gold from 6 m 

(including 12 m @ 0.78% copper and 0.13 g/t gold from 116 m)

Assay results details are provided in Table 1 below:

 
  Drill     Easting   Northing    Elevation   Dip   Azimuth   Total    From    To     Length   Copper    Gold 
   Hole                              (m)                       Depth    (m)    (m)      (m)     Grade    Grade 
    ID                                                          (m)                              (%)     (g/t) 
---------  --------  ----------  ----------  ----  --------  -------  -----  ------  -------  -------  ------- 
 RDD-005    473,890   4,787,657      596      -65     30      535.7     6      266     260      0.22     0.20 
                              including                                116     128      12      0.78     0.13 
                                                                       366    535.7   169.7      -       0.15 
--------------------------------------------------------------------  -----  ------  -------  -------  ------- 
 RDD-006    474,020   4,787,640      622      -80     325     500.6     0      460     460      0.21     0.20 
                              including                                 92     112      20      1.04     0.20 
--------------------------------------------------------------------  -----  ------  -------  -------  ------- 
 RDD-007    473,816   4,787,670      577      -60     140     611.6     0      572     572      0.11     0.16 
                              including                                106     186      80      0.30     0.16 
--------------------------------------------------------------------  -----  ------  -------  -------  ------- 
 RDD-008    474,039   4,787,804      579      -60     210     479.7    138    479.7   341.7     0.17     0.24 
---------  --------  ----------  ----------  ----  --------  -------  -----  ------  -------  -------  ------- 
 

Table 1: Summary of significant drill hole intersections (Coordinates are WGS84 UTM Zone 34).

Fabian Baker, COO of Tethyan, commented: "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."

The results of these drill holes have expanded the known extent of the Rudnitza porphyry system, and have returned long intervals of porphyry-style stockwork copper mineralisation hosted in multi-phase porphyritic dacite/diorite intrusions. The true widths of the drill intersections cannot be determined with the information available as mineralization is disseminated throughout this large system.

Tethyan's geologists, with support from highly experienced consulting geologist Simon Meldrum, are currently interpreting the results and drill core logging with the aim of vectoring towards higher-grade mineralisation in future drilling. 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.

The surface expression of the Rudnitza porphyry system is characterised by coincident copper, gold and molybdenum geochemical soil anomalies which Tethyan has defined over an area of approximately 1,500 m N-S and 600 m E-W. Drilling to date has been restricted to a small area in the southern end of the anomaly. A summary of all of results of Tethyan's drilling at Rudnitza to date is provided in Table 2 below.

 
  Drill     Easting   Northing    Elevation   Dip   Azimuth   Total    From    To     Length   Copper    Gold 
   Hole                              (m)                       Depth    (m)    (m)      (m)     Grade    Grade 
    ID                                                          (m)                              (%)     (g/t) 
---------  --------  ----------  ----------  ----  --------  -------  -----  ------  -------  -------  ------- 
 RDD-001    473,927   4,787,653      604      -85     136     584.6     0      567     567      0.28     0.45 
                              including                                122     158      36      1.22     0.38 
--------------------------------------------------------------------  -----  ------  -------  -------  ------- 
 RDD-002    474,022   4,787,637      622      -76     165     461.8     6      74       68      0.11     0.23 
                              including                                 98     320     222      0.24     0.27 
                                                                       354     440      86      0.16     0.30 
---------  --------  ----------  ----------  ----  --------  -------  -----  ------  -------  -------  ------- 
 RDD-003    473,873   4,787,734      581      -60     140      710      42     327     285      0.31     0.33 
                              including                                102    118.7    16.7     1.55     0.20 
                                                                       657     695      38      0.14     0.27 
---------  --------  ----------  ----------  ----  --------  -------  -----  ------  -------  -------  ------- 
 RDD-004    474,005   4,787,752      592      -60     210     558.6     48     404     356      0.38     0.31 
                              including                                102     132      30      1.45     0.39 
                                                                       476     502      26      0.12     0.19 
---------  --------  ----------  ----------  ----  --------  -------  -----  ------  -------  -------  ------- 
 RDD-005    473,890   4,787,657      596      -65     30      535.7     6      266     260      0.22     0.20 
                              including                                116     128      12      0.78     0.13 
                                                                       366    535.7   169.7      -       0.15 
--------------------------------------------------------------------  -----  ------  -------  -------  ------- 
 RDD-006    474,020   4,787,640      622      -80     325     500.6     0      460     460      0.21     0.20 
                              including                                 92     112      20      1.04     0.20 
--------------------------------------------------------------------  -----  ------  -------  -------  ------- 
 RDD-007    473,816   4,787,670      577      -60     140     611.6     0      572     572      0.11     0.16 
                              including                                106     186      80      0.30     0.16 
--------------------------------------------------------------------  -----  ------  -------  -------  ------- 
 RDD-008    474,039   4,787,804      579      -60     210     479.7    138    479.7   341.7     0.17     0.24 
---------  --------  ----------  ----------  ----  --------  -------  -----  ------  -------  -------  ------- 
 

Table 2: Results of all Tethyan's drilling at the Rudnitza porphyry to date.

Tethyan is immediately rehabilitating the drilling sites and access roads in accordance with recent warranties which Tethyan made to the local municipality and community, demonstrating the Company's commitment to sustainable operation.

For further information please contact:

 
 Tethyan Resources PLC       [phone] 
 Peter Mullens (CEO)         [e-mail] 
 
 Cairn Financial Advisers 
  LLP                        [phone] 
 James Caithie / Sandy 
  Jamieson 
 

Qualified person

The technical information in this news release has been reviewed by Tethyan's Chief Executive Officer, Peter Mullens, FAusIMM, who is a Qualified Person as defined by National Instrument 43-101.

Sampling Methodology

Drilling and sampling procedures were carried out in-line with standard industry best practice. Drill core recoveries averaged in excess of 99%. Samples consisted of two metre composites of half drill core which were delivered to ALS Global in Bor, Serbia. Samples were prepared by drying, crushing to 70% passing 2mm, riffle split to provide a 1 kg sample which is pulverised to better than 85% passing 75 microns. Samples were analysed for gold by 30g fire assay and AAS, and for a 33 multi-element suite by four acid digestion and ICP-AES.

About Tethyan

Tethyan Resources Plc ("Tethyan Resources") is a gold and base metal mineral exploration company incorporated in England & Wales (company registration number 3781581). Tethyan Resources listed on AIM (TETH.L) in 2004 and commenced trading on the TSX Venture Exchange on September 6, 2017, under the symbol "TETH".

Tethyan Resources is focused on the Tethyan Metallogenic Belt in Eastern Europe, mainly Serbia, where it is acquiring and exploring a portfolio of quality precious and base metals projects with known mineralisation and compelling drill targets.

Tethyan emphasises responsible engagement with local communities and stakeholders, and is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety and environmental management.

More information can be found on our website: www.tethyan-resources.com. This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

Forward Looking Statements

This news release contains forward-looking statements relating to expected or anticipated future events and anticipated results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, competition for qualified staff, the regulatory process and actions, technical issues, new legislation, uncertainties resulting from potential delays or changes in plans, uncertainties resulting from working in a new political jurisdiction, uncertainties regarding the results of exploration, uncertainties regarding the timing and granting of prospecting rights, uncertainties regarding the Company's ability to execute and implement future plans, and the occurrence of unexpected events. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors.

This information is provided by RNS

The company news service from the London Stock Exchange

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September 14, 2017 02:01 ET (06:01 GMT)