Tethyan Resources PLC Geophysical Surveys Completed (7729R)

TIDMTETH

RNS Number : 7729R

Tethyan Resources PLC

26 September 2017

September 26, 2017

TETHYAN RESOURCES PLC

GEOPHYSICAL SURVEYS COMPLETED AT THE SUVA RUDA AND GOKCANICA PROJECTS IN SERBIA

Tethyan Resources plc ("Tethyan" or the "Company") is pleased to announce that it has completed substantial geophysical surveys at the Suva Ruda and Gokcanica Projects located in Serbia. Interpretation of the data collected by the surveys is expected to be completed and announced in October.

The surveys were conducted by the Canadian company Quantec Geoscience, a world leader in the field, using their proprietary 'TITAN 24' system. TITAN 24 is an advanced system that collects two separate geophysical surveys, Induced Polarisation ("IP") as well as Magnetotelluric ("MT"). The advantages of the TITAN 24 system over more traditional IP techniques is that the survey generates data to greater depths (up to 1,500 metres depth), and with improved resolution at shallower depths.

The method is well tested on porphyry systems worldwide; the aim of the surveys is to gain indications of where different lithologies, alteration styles and concentrations of mineralisation might occur. The data will be used to better understand and identify extensions to the areas which Tethyan has already drilled, and locate new targets for future drilling.

At the Suva Ruda Project, the survey consisted of ten survey lines, each 2.4 kilometres long and 200 metres apart, covering the entire Rudnitza porphyry system where Tethyan have completed eight drill holes to date. At the Gokcanica Project, five survey lines were measured, each 400 metres apart, over a mountain ridge where stream sediment and soil geochemistry indicated elevated levels of gold, copper and other elements regarded as indicative of porphyry-type mineralisation.

In preparation for the surveys, Tethyan was successful in gaining land access permissions to hundreds of small agricultural land plots, and from the municipal road and rail authorities as well as the local military and police forces. This was the result of a significant and long-term programme of community and government engagement, led by Tethyan's dedicated Land and Community Officer, Mr Marko Miletic.

Peter Mullens, CEO of Tethyan commented "We are pleased to have completed this geophysical survey, it is a key step in building our understanding of the deposit geology at Rudnitza and the earlier-stage Gokcanica Project. In addition, Tethyan is grateful to the support of the local people and authorities who have made every effort to assist Tethyan in carrying-out this work. We look forward to identifying new exploration targets which we will follow-up with drilling in due course."

For further information please contact:

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

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.

This information is provided by RNS

The company news service from the London Stock Exchange

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September 26, 2017 02:01 ET (06:01 GMT)