26 Sep Tethyan Resources Completes Geophysical Surveys at the Suva Ruda and Gokcanica Projects in Serbia
TETHYAN RESOURCES COMPLETES GEOPHYSICAL SURVEYS AT THE SUVA RUDA AND GOKCANICA PROJECTS IN SERBIA
JERSEY, UK, Sept. 26, 2017– Tethyan Resources PLC (AIM:TETH) (TSX-V:TETH) (“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 has completed eight drill holes to date. At the Gokcanica Project, five survey lines will be 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.”
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.
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Forward Looking Statements
Certain information contained herein constitutes “forward-looking information” under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to holding the general meeting and mailing the meeting materials. Generally, forward-looking information can be identified by the use of forward-looking terminology and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including: the receipt of all necessary regulatory approvals, capital expenditures and other costs, and financing and additional capital requirements. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
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Tethyan Resources PLC, Peter Mullens (CEO), +44 1534 881 885, firstname.lastname@example.org;
Cairn Financial Advisers LLP, James Caithie / Sandy Jamieson, +44 (0) 207 213 0880