Business
Acquisition of PM Ploutonic Resources Limited
Acquisition of PM Ploutonic Resources Limited.
About this update from Critical Mineral Resources Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 7514U\n Caerus Mineral Resources PLC\n 08 April 2021\n \n \n \n \n 08 April 2021\n \n \n \n \n \n Caerus Mineral Resources Plc\n \n \n \n \n \n (\"Caerus\" or the \"Company\") (Ticker: CMRS)\n \n \n \n \n \n Acquisition of PM Ploutonic Resources Limited\n \n \n \n \n \n Caerus Mineral Resources plc\n , (\"Caerus\" or \"the Company\") the exploration and resource development company focused on developing mineral resources in Europe to supply the global \"Clean Energy\" drive, is pleased to announce the acquisition of PR Ploutonic Resources Ltd (\"PRL\") (\"Acquisition\"), subject to Shareholder approval. Consent for the transaction will be sought from Shareholders by a General Meeting to be held remotely at 9.00 am on 28 April 2021 and as described on the Company website \n \n www.caerusmineralresources.com\n \n .\n \n \n \n \n \n PRL \n is a private, Cypriot-registered exploration and mining company,\n the acquisition of which provides Caerus with access to a further suite of advanced copper-gold exploration licences in the Republic of Cyprus. Each of the three licences acquired, Troulli, Kokkinapetra and St. Nicholas, has evidence of historic production with non-JORC resources remaining both open pittable and underground, plus copper-gold bearing oxide and sulphide ore, tailings, and waste stockpiles at-surface at the Troulli site. All three properties also have excellent potential for the discovery of further high-grade VMS copper-gold and epithermal gold deposits.\n \n \n \n \n \n Project Details \n \n \n \n \n \n The Troulli Project comprises both a former small-scale high-grade, open pit gold mine last operated in the 1930's sited over pre-Roman workings, and a separate open-pit operation that mined a high-grade copper-gold VMS deposit, ceasing production prematurely in 1974 at the time of the Turkish invasion. High copper grades are reported for both deposits and will be validated by the Company's Due Diligence and exploration programme. There is clear evidence of further epithermal gold mineralisation within the licence and copper mineralisation is visible in the former open pit and located beneath the epithermal gold deposit. The Licence also hosts a number of dumps and stockpiles with reported grades as high as 1.5% copper.\n \n \n \n \n \n T...