Tethyan Resources Commences Drilling at the Rudnica Copper-Gold Porphyry Prospect, Serbia
TSX VENTURE: TETH
Jersey, England--(Newsfile Corp. - September 13, 2018) - Tethyan Resources plc (TSXV: TETH) ("Tethyan" or the "Company") is pleased to announce the commencement of exploration drilling at the Rudnica copper-gold porphyry prospect in Serbia. The drill programme will consist of 3 to 4 diamond drill holes, for a total of between 1,500 — 2,000 metres, stepping-out from Tethyan's previous drilling at Rudnica South as well as targeting an untested area known as Rudnica North situated approximately 500 metres to the north (Figures 1 and 2).
Rudnica North has not previously been drilled, and was identified as a result of Tethyan's exploration programme which returned coincident copper-gold-molybdenum soil anomalies with high chargeability and high magnetic geophysical anomalies, in an area of leached and silica altered andesite with a variable density of quartz veinlets. Previous channel sampling in the area returned results including 40 metres at 0.21 g/t gold, 30 metres at 0.24 g/t gold and 10 metres at 0.26 g/t gold (see news release dated March 2, 2018). The geochemical and geophysical signature, and mapped alteration and veining at Rudnica North are analogous to Rudnica South, and as such is interpreted by Tethyan to represent a possible second porphyry apophysis.
Fabian Baker, Tethyan's President and CEO, commented: "The Rudnica prospect as a whole is a large porphyry exploration target, of which we have only focused on a small area to date. We want to make sure we are covering that ground and testing it thoroughly. Typical geochemical and geophysical characteristics that might indicate the upper reaches of a porphyry system do coincide at Rudnica North, however these are true exploration scout drill holes and so we will eagerly wait to see what they return."
Tethyan Resources plc is a precious and base metals mineral exploration company incorporated in England & Wales and listed on the TSX Venture Exchange. Tethyan 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.
The technical information in this news release has been reviewed and approved by Tethyan's Exploration Manager, Andrew Tunningley, MAusIMM(CP), who is a Qualified Person as defined by National Instrument 43-101.
Tethyan Resources Contact
Tethyan Resources plc
+44 1534 881 885
Fabian Baker (CEO)
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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 the drill holes and target areas comprising the drill programme; and the possibility of a second porphyry apophysis. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "will", "possible" or variations of such words 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 Tethyan 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 Tethyan have 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. Tethyan will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.