Western Tethyan Resources Announces New Drilling Program at Slivova Gold project, Kosovo
Western Tethyan Resources Ltd (the “Company” or “WTR”) is pleased to announce a new drilling program (first of its own) at Slivova Gold project in Kosovo.
Highlights:
- Four holes totaling 1000m are planned to target three different prospects:
- the main orebody extensions (the Gossan Extension)
- the Sandstone Gossan (western extension of the main orebody) and
- the more distant Valjevishte target.
- On completion of this program, WTR will have satisfied the requirements of it’s initial 51% earn-in on the Slivova Project from Avrupa Minerals Ltd.
Mentor Demi, Managing Director of WTR, added:
“The main exploration focus at Slivova is testing near-resource exploration targets and potentially extending the mine life to beyond 7 years as projected in the PEA study. Last drill hole at the gossan extension area, hole SLV060, returned significant anomalism (23m@ 4.4 g/t Au) and ended short. With the current drill plan, we aim to drill along strike and deeper to test the extension potential. Additionally, we intend to drill-test several nearby exploration targets, where geological, geophysical and geochemical data indicate strong potential.
Simultaneously, we are progressing with our regional target generation, and I am very encouraged by the results thus far. We currently have six license applications in Kosovo, covering 503 km². “
About the program
In recent months, the WTR team has been working on a trenching programme at the Slivova Project. Over 1,800 portable X-ray Fluorescence (pXRF) samples were collected over eight trenches spanning 1,850m. Six trenches were completed over the Dzemajl Target, where the objective was to identify and measure structures related to mineralisation defined in historic trenching, but not documented well. The seventh trench was excavated directly over the central Slivova deposit area to expose outcropping mineralisation and better map structural controls to the deposit. A final trench was excavated over the Vajileviste target; an area defined by a weak soil gold anomaly, some historic trenching, and a weak-to-moderate Induced Polarisation (IP) chargeability target. Bismuth results from the pXRF analysis strongly correlate with historic gold assay analysis. Arsenic in the pXRF data has also shown significant associations with mineralised zones, but generally outlines more altered host rocks and wider mineralised zones. This pXRF data has been instrumental in outlining samples for assay analysis. The results are now pending for release.
In the coming weeks, the WTR team is finalising logistics to initiate a 1,000-metre diamond drill programme for four holes. The programme has three technical objectives:
⦁ Complete two infill resource holes (PL04 and PL25), which are critical for testing an area where the Slivova resource is “open”. The estimated blocks in the resource model here are currently classified as Inferred.
⦁ Complete an exploration hole approximately 120m west of Slivova to test a significant IP chargeability target which shows characteristics suggestive of a concealed intrusive body.
⦁ Test the Vajileviste target area to understand better the relationships between anomalous soil samples, historic trenching results, and a weak-to-moderate IP chargeability anomaly.
On completion of this drilling programme, WTR will have satisfied the requirements of its initial 51% earn-in on the Slivova Project from Avrupa Minerals Ltd (TSX-V: AVU). WTR will then commence work towards its earn-in to 75% of the Slivova Project, which will require an a further €1,000,000 of expenditure for the preparation of a JORC Code compliant Mineral Resource Estimate and the commencement of the Environmental Impact Statement (“EIS”).
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Qualified Person
Mentor Demi, EurGeol (License 1253), who is a CRIRSCO Competent Person and EurGeol Qualified Expert, has reviewed and approved the technical disclosure contained in this news release.
About Western Tethyan Resources
Western Tethyan Resources Ltd (“WTR”) is a UK registered, mineral exploration and Development Company focused on Southeast Europe. The company has a strategic alliance with Newmont Corporation and Ariana Resources and is currently focused on exploration for major copper-gold deposits in the Lecce Magmatic Complex and Vardar Belt. The company is assessing several other exploration project opportunities across Eastern Europe, targeting major copper-gold deposits across the porphyry-epithermal transition. For further information on Western Tethyan Resources you are invited to visit the Company’s website at www.westerntethyanresources.com
Glossary of Technical Terms:
“Au” chemical symbol for gold;
“Cu” chemical symbol for copper;
“ICP-MS” inductively coupled plasma mass spectrometry;
“IP” induced polarisation electrical geophysical technique;
“m” Metres;
“Mo” chemical symbol for molybdenum;
“nT” unit of magnetic flux density representing a billionth of a Tesla;
“ppm” parts per million;
“pXRF” portable X-ray fluorescence;
Ends.