Reservoir Minerals (RMC) has updated the development of opening the access again to significant Gindusa and Rusman underground works conducted at the Deli Jovan gold project, east Serbia.
The company has obtained working access to a level of 30 and 50 m of the significant Rusman underground workings and 30 m at the Gindusa. The Gindusa exploration adit is stable in the region, where new timber work is needed. The company is performing geological mapping and geodetic surveying on the accessible levels. Additional lower level dewatering continues at both mines in order to allow the permit for mapping, surveying and sampling. The company has almost completed the geological mapping at the working level of 30 m of the Rusman workings. It is expecting the channel sampling results in the first quarter of 2012 and the results will be utilized to target the upcoming drill program.
RMC has planned to start a surface exploration diamond drill campaign of up to 7,500 m during April 2012, for examining the depth expansions, strike and gold mineralization continuity discovered by the latest soil sampling and underground workings.
According to the earn-in contract signed between RMC, Orogen is continuously granting funds to the Deli Jovan project.
Simon Ingram, RMC’s President and CEO, commented that the company is advancing to access the previous mining levels present at the Deli Jovan project. Orogen’s increasing funds will help the continued exploration expenses at the project. The company is expecting the underground sampling campaign results during early 2012.
Orogen has funded for the work at Deli Jovan and can obtain up to a 75% of interest in the project, through the completion of $3.5 million in exploration expenses.
Source: http://www.reservoirminerals.com/