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

TETHYAN ANNOUNCES RESULTS OF NEW DRILL HOLES AT RUDNITZA COPPER-GOLD PROSPECT, SERBIA

JERSEY, UK, Sept. 14, 2017 – Tethyan Resources PLC (AIM:TETH) (TSX-V:TETH) (“Tethyan” or the “Company“) 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 RDD006 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 Hole
ID

Easting

Northing

Elevation
(m)

Dip

Azimuth

Total
Depth
(m)

From
(m)

To

(m)

Length
(m)

Copper
Grade
(%)

Gold
Grade
(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. Visit https://www.tethyan-resources.com/2017-09-14_figures to view this press release with supporting figures including drilling plans and cross sections.

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 Hole ID

Easting

Northing

Elevation
(m)

Dip

Azimuth

Total
Depth
(m)

From
(m)

To

(m)

Length
(m)

Copper
Grade
(%)

Gold
Grade
(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.

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.

Disclaimer

Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This announcement does not comprise a prospectus or other form of offering document relating to Tethyan Resources plc (“the Company”), and does not constitute an offer or invitation to purchase or subscribe for any securities of the Company or any other company and should not be relied on in connection with a decision to purchase or subscribe for any such securities.

The announcement does not constitute a recommendation regarding any decision to sell or purchase securities of the Company or any other company. Your attention is drawn to the risk factors set out below.

View original content: http://www.newswire.ca/en/releases/archive/September2017/14/c4549.html

Tethyan Resources PLC, +44 1534 881 885, Peter Mullens (CEO), pjm@tethyan-resources.com;

Cairn Financial Advisers LLP, +44 (0) 207 213 0880, James Caithie / Sandy Jamieson