Caerus Mineral Res. (CMRS.L) Troulli Exploration Update

Caerus Mineral Resources, the exploration and resource development company focused on developing mineral resources in Europe to supply the global “Clean Energy” drive, is pleased to provide shareholders with an update on the due diligence drilling conducted on the recently acquired PR Ploutonic Resources Ltd. Troulli Project completed on 11 June 2021.

Highlights

· Drilling results significantly exceed expectations, with all holes intersecting significant gold and/or copper mineralisation;

· Eight vertical percussion holes completed;

· Drilling indicates a robust and potentially significant oxide gold and VMS copper-gold deposit located on the site of a former small-scale mine;

· Continuous oxide gold zone mineralisation over substantial widths from surface to the interface with the underlying VMS copper-gold sulphide zone;

· VMS sulphide mineralisation was found to be present at the base of every hole drilled;

· The surface oxide gold zone remains open in all directions;

· Underlying VMS copper-gold zone remains open at depth and laterally in all directions;

Table 1: Peak gold intersections in the oxide gold zone include:

The continuity of gold values in the oxide gold zone indicates pervasive mineralisation with potential for upscaling resulting in a revenue-generating gold resource overlying a VMS copper-gold zone open at depth and in all directions laterally.

In addition to the known, partially delineated dumps, tailings and ore stockpiles within the Troulli licence, the Company is now confident of adding gold oxide mineralisation together with VMS copper-gold mineralisation from three separate and distinct targets, firstly, residual ore in the former open pit, secondly, extensions to the former open pit and thirdly, the recently intersected VMS zone underlying the oxide gold zone. To this should be added tonnage derived from the oxide gold zone, which remains to be defined from further drilling.

In addition, the Kokkinapetra Licence, also part of the PRL Ploutonic acquisition and located 1.5 kilometres from Troulli hosts the same style of mineralisation and has returned rock chip and channel samples consistently above 1g/t Au. Kokkinapetra has not been fully evaluated, offering scope for further oxide gold and VMS copper-gold discoveries.

Martyn Churchouse, Chief Executive Officer of Caerus Mineral Resources, commented, “Drilling results from the preliminary programme have exceeded expectations. We now have the exciting task of drilling to establish the limits of both the oxide gold and VMS copper-gold mineralisation at both Troulli and the neighbouring Kokkinapetra. As a result, the Company is well on the way to defining a resource that may meet the entry criteria for a Joint Venture Project under the terms of the Jubilee Option agreement.”

Full update https://www.investegate.co.uk/caerus-mineral-res.–cmrs-/rns/troulli-exploration-update/202106140700077163B/


Linking Shareholders and Executives :Share Talk

If anyone reads this article found it useful, helpful? Then please subscribe www.share-talk.com or follow SHARE TALK on our Twitter page for future updates. Terms of Website Use All information is provided on an as-is basis. Where we allow Bloggers to publish articles on our platform please note these are not our opinions or views and we have no affiliation with the companies mentioned
Stockmarket News
Share Talk
Share via
Copy link
Malcare WordPress Security