Latest news

NEW LOWER ZONE DRILL RESULTS OF TIMOK PROJECT

We are pleased to announce new assay results from on-going drilling of the Lower Zone at the Timok copper-gold project.

  • Drilling continues to confirm grade, continuity and thickness of the Lower Zone
  • New porphyry copper intersections include:

                – 0.80% Cu and 0.22g/t Au over 798.1m in TC170131A (1.11% Cu equivalent)

                – 1.01% Cu and 0.18g/t Au over 336.1m in TC160118 (1.27% Cu equivalent)

                – 1.02% Cu and 0.25g/t Au over 327.0m in TC160125D (1.38% Cu equivalent)

                – 1.18% Cu and 0.29g/t Au over 238.7m in TC160125B (1.59% Cu equivalent)

                – Intersections estimated to be near true width

                – Cu equivalent calculated as 1g/t Au = 0.7% Cu

  • Drilling targeted completion in late 2017

The Lower Zone consists of porphyry-type mineralization characterized by chalcopyrite-pyrite and minor bornite and molybdenite occurring as disseminations and within quartz and quartz-magnetite stockwork veinlets. Anhydrite veins are common. Within the Lower Zone, porphyry-type potassic alteration is preserved locally but generally overprinted by sericite-clay, argillic and advanced argillic alteration. The latter overprinting also brings occasional covellite-pyrite mineralization. The host rocks are predominantly volcanic andesite, andesite breccia and andesitic porphyry. The geometry of the Lower Zone remains to be fully defined.  Its top is about 700 metres below surface and has been traced down to depths in excess of 2,000 metres.