Reservoir Minerals (RMC), an international mineral exploration firm, together with Freeport-McMoRan Exploration announced that high-grade mineralized copper and gold has been intersected in hole FMTC 1213 through the diamond drill program carried out at the Timok project in East Serbia. The hole also returned 10.16% copper equivalent (CuEq) over 160 m.
The company vertically drilled the hole FMTC 1213 in order to focus on blind porphyry and epithermal mineralized gold and copper at the Cukaru Peki target, under the post-mineralization Miocene cover deposits. Geological analysis and geophysical data were the basis for targeting. FMTC 1213 lies about 200 m towards the southeastern part of FMTC 1210, which returned 1.23% CuEq over 266 m.
This project includes the Brestovac-Metovnica, Jasikovo-Durlan Potok, and Leskovo exploration permits, which are owned by Rakita. The Miocene sedimentary’s base was intersected in hole FMTC 1213 at 245 m depth. Then, Upper Cretaceous volcaniclastic and sedimentary rocks were penetrated before intercepting the target volcaniclastic and andesite unit at 432 m.
Moderate to strong locally bornite, covellite and pyrite mineralization was found from 461.7 to 633.0 m. This mineralization occurs as breccia matrix fill, disseminations and veinlets in altered andesites. The company encountered copper results ranging from 0.13% to 36.51% over 621.0 m and also 0.62 g/t gold and 0.36% copper from 495.0 to 506.0 m. HQ and NQ equipment were used to drill the hole FMTC 1213 from 275.5 to 614.4 m and from 614.4 to 798.1 m.
The company was unable to find out the orientation of the zone mineralization at the early phase of exploration for a high-sulphidation porphyry and epithermal copper mineralized system. It will announce the remaining analytical results once they are reported and assessed.
Source: http://www.reservoirminerals.com/
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