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Mala Project Update
Mala Project Update.
About this update from Critical Mineral Resources Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 1554G\n Caerus Mineral Resources PLC\n 28 March 2022\n \n \n \n \n 28 March 2022\n \n \n \n \n \n Caerus Mineral Resources PLC\n \n \n ('Caerus' or the 'Company')\n \n \n Mala Project Update \n \n \n Caerus Mineral Resources \n (LON: CMRS)\n , the Cyprus-based exploration and resource development company focused on developing copper-gold mineral resources to support the global \"Clean Energy\" initiative, is pleased to provide an update on the Mala Project in Cyprus. \n \n \n The Mala Project consists of the Mala and St. Nicholas licenses, located in western Cyprus, with a key focus on the historic Mala pyrite and St. Nicholas mines. Both historic operations have indicated large remnant sulphide-based deposits and significant on-surface deposits.\n \n \n The Mala pyrite mine is reported to have produced over 200,000 tonnes (\"t\") of ore, including 80,000t at 0.55% Cu. The target area has identified numerous volcanic vent structures, which are synonymous with volcanogenic massive sulphide (\"VMS\") systems. Its prospectivity is enhanced by the presence of a large number of northwest-southeast trending faults. The deposit remains exposed within the historic open pit, and a 1994 report estimated a non-JORC (2012) ore reserve of 200,000 tonnes.\n \n \n The site also hosts an estimated 500,000 tonnes of ore stockpiles, mine dumps and tailings. The dump materials were the target of recent on-site testing to assess both gold and base metal grades as possible future sources of low-grade leachable feedstock.\n \n \n Mala does not currently form part of the Bezant Resources Joint Venture but is subject to possible future test work as part of the Company's agreement with Jubilee Metals Group.\n \n \n Highlights\n \n \n · \n Hand auger sampling of mine waste dumps at Mala returned anomalous gold grades\n \n \n · \n 80% of the total number of gold assays received returned anomalous results above 0.29g/t Au \n \n \n \n \n \n Percentage of Samples exceeding the required grade (%)\n \n \n \n \n Grade (g/t Au)\n \n \n \n \n \n \n 14.5\n \n \n \n \n >1.0\n \n \n \n \n \n \n 58.0\n \n \n \n \n >0.49\n \n \n \n \n \n \n 88.0\n \n \n \n \n >0.29\n \n \n \n \n \n \n Martyn Churchouse, Chief Executive Officer of Caerus, said;\n \n \"The consistent presence of...