October 18, 2023

Western Tethyan Resources Ltd (the “Company” or “WTR”) is pleased to announce that it has started its first ever diamond drilling program at the Hertica Magmatic-Hydrothermal Project in Kosovo. The program includes a total of five holes, when taken aggregately, will cover a depth of approximately 3,200 meters using diamond drilling techniques, with the objective of testing targets generated through the exploration programs conducted in 2022 and 2023. 

Highlights:

  • Untested large alteration system spanning over approximately 8 square kilometers, with Advanced Argillic alteration covering an area of approximately 4 square kilometers.

 

  • A total of 3200 meters of Dimond Drilling in 5 holes is planned over approximately 4 months.

 

  • Drilling to focus on the two main anomalies delineated by geology, geochemistry, and geophysics.

 

  • The exploration program will be funded through “Newmont Alliance” funds*.

 

*The term “Newmont Alliance” signifies the $2.5 million funding provided by Newmont Corporation, as outlined in the agreements between Western Tethyan Resources, Newmont Ventures Limited and Ariana Resources, plc in the press release dated March 24, 2022. Newmont Ventures Limited holds the right to designate the project in terms of the agreement referred to above.

 

Mentor Demi, Managing Director of Western Tethyan Resources stated that “This represents a significant development in the WTR / Newmont/ AAU relationship with the Alliance funding of this drilling program on this exciting potential project. While the initial surface exploration within the licence area is promising for an epithermal alteration system, our aim with the deep drilling program is to test the existence of the porphyritic system at deeper levels. We expect to finish the program by the end of the year and release the results when available”.

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For further information, please contact:
Mentor Demi, Managing Director

 

About Hertica Project

The Hertica License is located in the northeastern part of Kosovo on the border with Serbia.

The license is granted by ICMM (Independent Commission for Mines and Minerals) to Kosovo Mineral Resources LLC (KMR), a wholly owned subsidiary of Western Tethyan Resources Ltd, in Kosovo, on the 18th  July 2022. The license covers 58.1 km2and  is valid for 7 years of exploration (+3 years option to retain)

Fig.1 Location Map

Geologically the license area covers an Epithermal-Porphyry prospect, located on the contact of the Lecce Magmatic Complex with Cretaceous Vardar sediments. The complex is highly promising for precious and base metals and is formed as a result of the post-collisional magmatic activity that lasted from the Oligocene to Miocene. The complex is host to several Cu-Au and Au porphyry deposits, gold rich polymetalic epithermal deposits and Carbonate Replacement Deposit type base metal deposits.

Fig.2 Regional (a) and local (b) view of Hertica License versus mineral deposits and geology

Fig.3 Geochemistry Map (ICP-MS data)

All the samples collected have been simultaneously analyzed with Terraspec Halo. Good clustering of higher temperature clays (Dickite and Alunite) suggests a higher temperature core is located in the east of the project and correlates well with the geochemistry anomalies.



Fig.4 Hertica Alteration Map (Terraspec analysis)

As a result of the good and encouraging exploration program, during 2022-2023, in July-August of 2023 WTR started and completed a detailed ground geophysics program including IP/Resistivity and Mag, covering the main anomalies identified from Geochemistry sampling and geology and alteration mapping.

WTR completed 41.4 km of survey lines using IRIS Elrec Pro Receiver and VIP 10000 Transmitter.

Fig.5 a) ground mag geophysics map, b) 3D Block Diagram for Chargeability (Left) and Resistivity (Right)

Ground Mag also shows several zones of Mag High and areas of low / no magnetic signal which could coincide with areas of oxidation / destruction of magnetic minerals.

Fig.6 Hertica IP (150m depth slice) versus Mag (RTP shown in black lines)

The geophysics survey was highly positive, and the company decided to drill test the main anomalies. A total of 5 holes for a total of 3200m are planned to be drilled. The program has begun and is expected to be finished by late December.

Fig.7 Drilling location Map

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 South East 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.wtrltd.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;