Business
Commencement of N. Mathiatis Drilling Programme
Commencement of N. Mathiatis Drilling Programme.
About this update from Critical Mineral Resources Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 7723T\n Caerus Mineral Resources PLC\n 29 March 2021\n \n \n \n \n 29 March 2021\n \n \n Caerus Mineral Resources Plc\n \n \n (\"Caerus\" or the \"Company\") (Ticker: CMRS)\n \n \n \n Commencement of N. Mathiatis Drilling Programme \n \n \n \n \n \n Caerus Mineral Resources plc, \n the European-focused exploration and development company targeting mineral resources to supply the global Clean Energy Transition\n , is pleased to announce the commencement of a Dump Evaluation Drilling programme that will begin at the N. Mathiatis copper-gold project in Cyprus.\n \n \n \n \n \n Drilling will commence significantly ahead of schedule on the two N. Mathiatis licences. The programme is designed to identify copper and gold mineralisation within the dumps generated by historic mining on the Company's licences commencing with the former high-grade pyrite copper-gold N. Mathiatis deposit. Holes to an average depth of 30m will be drilled on a grid pattern over N. Mathiatis dumps and stockpiles, providing the Company with a broad indication of mineral content in a low-cost and quick to implement manner. \n \n \n \n \n \n The Company will be targeting both low-grade leachable copper oxide mineralisation at an average grade of 0.25% Cu, the typical feed grade for recent profitable dump leaching operations in Cyprus, together with higher sulphide copper grades (>0.30% Cu) more suited to flotation recovery, particularly if associated with a gold credit. The programme will allow Caerus to further understand the economic viability of the dump and stockpile material, which has been boosted by the current commodity pricing environment for copper. \n \n \n \n \n \n Preparation has started on-site, and access roads are being built across the various dumps. Drilling is expected to commence once the site is ready to receive the drill rig, which is anticipated to be in early April 2021. \n \n \n \n \n \n \n Martyn Churchouse, Chief Executive Officer, said:\n \n \"The fact that the Company is commencing drilling operations only a few weeks after listing reflects the advanced nature of many of our projects located on licences that host more than half of the former producing mines in Cyprus. The multiple resource types we have gives us the flexibility and the confid...