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Reservoir Minerals Receives Three Exploration Permits in Timok Area, Serbia

By Joel ScanlonMar 6 2012

Canadian exploration company Reservoir Minerals has received exploration permits namely the Tilva-Njagra, Coka-Kupjatra and Leskovo exploration permits. The three permits cover a total area of 148.25 sq.km in the Timok Area located in eastern Serbia.

The company is already carrying out exploration for gold and copper mineralisation along with Freeport-McMoRan Exploration Corporation in the area. Reservoir Minerals now has exploration permits for a total area of 350 sq.km. All the three permits are fully owned by Reservoir Minerals.

While the Leskovo Exploration permit covers an area of 43.25 sq.km, the Tilva-Njagra permit covers an area of 49.0 sq.km and the Coka-Kupjatra permit covers an area of 56 sq.km. The Timok project consists of two other exploration permits, which are the Brestovac-Metovnica and Jasikovo-Durlan Potok permits, which are owned by Ratika, a fully owned subsidiary of Reservoir Minerals. Freeport-McMoran Exploration is likely to invest $3 million for exploration by March 2014 in the project as a result of which it will gain 55% interest in the project. The Leskovo permit falls under the terms and conditions of the Rakita agreement. However Freeport Mc-Moran Exploration has been given 30 days time to notify if they wish the Leskovo permit to be included in the Rakita agreement. Reservoir Minerals has not renewed its Lece exploration license which it held previously in Serbia.

Source: http://www.reservoirminerals.com

Written by

Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

Citations

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APA
Scanlon, Joel. (2019, February 18). Reservoir Minerals Receives Three Exploration Permits in Timok Area, Serbia. AZoMining. Retrieved on May 01, 2024 from https://www.azomining.com/News.aspx?newsID=6075.
MLA
Scanlon, Joel. "Reservoir Minerals Receives Three Exploration Permits in Timok Area, Serbia". AZoMining. 01 May 2024. <https://www.azomining.com/News.aspx?newsID=6075>.
Chicago
Scanlon, Joel. "Reservoir Minerals Receives Three Exploration Permits in Timok Area, Serbia". AZoMining. https://www.azomining.com/News.aspx?newsID=6075. (accessed May 01, 2024).
Harvard
Scanlon, Joel. 2019. Reservoir Minerals Receives Three Exploration Permits in Timok Area, Serbia. AZoMining, viewed 01 May 2024, https://www.azomining.com/News.aspx?newsID=6075.