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Visible Gold & Potential VMS Extension at Troulli
Visible Gold & Potential VMS Extension at Troulli.
About this update from Critical Mineral Resources Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 0601V\n Caerus Mineral Resources PLC\n 12 April 2021\n \n \n \n \n 12 April 2021\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 Visible Gold and Potential Discovery of the Extension to the Troulli VMS Orebody\n \n \n \n \n \n Caerus Mineral Resources, the exploration and resource development company focused on developing mineral resources in Europe to supply the global \"Clean Energy\" initiative, \n is pleased to update Shareholders on the preliminary outcome of Due Diligence drilling that has been taking place on the PR Ploutonic Resources Limited (\"PRL\") licences in Cyprus. The conditional acquisition of PRL by Caerus is subject to Shareholder Approval being sought at a General Meeting on 28 April 2021. \n \n \n \n \n \n Percussion drilling has been undertaken as part of the Due Diligence process validating historic work completed on licences in the PRL portfolio that are subject to acquisition by Caerus. \n \n \n \n \n \n The drilling has been completed over the gold-bearing 'gossan' and oxide located close to the former Troulli open pit that previously exploited a Volcanogenic Massive Sulphide (\"VMS\") copper deposit first mined in 1938 and which saw sporadic activity up until 1974. The intention of the recent drilling was to provide preliminary information concerning the extent of the gold-bearing 'gossan' and oxide zone and the possibility of further VMS-type copper mineralisation below the oxide cap. \n \n \n \n \n \n Highlights\n \n \n \n \n \n · \n Visible gold was recovered during the panning of randomly selected samples of drill chips collected during the drilling of the 'gossan' and oxide zone on the Troulli licence.\n \n \n \n \n \n · \n The 'gossan' and oxide zone, originally thought to be approximately 10 metres thick, has now been recorded to a depth from surface of up to 25 metres. This adds significantly to the potential tonnage of higher grade, gold-bearing material for future processing.\n \n \n \n \n \n · \n One drill-hole extended through the oxide zone and immediately intersected the sulphides with copper mineralisation: cuprite and chalcocite at a depth of only 24 metres below surface.\n \n \n \n \n \n · \n The potential discovery of the exte...