Whilst not perhaps the country that first springs to mind when you think of gold reserves, Vancouver’s Tethyan Resource Corp have announced the discovery of an outcropping gold porphyry system on the western side of the Kremice project in southwestern Serbia. Kremice is found 10km to the north of the Rudnica copper-gold project.
Channel sampling of the exposed stockwork at Kremice West has produced samples grading up to 0.68 g/t gold and 0.21% copper. Tethyan has drilled two scout holes to a total of 680m and is continuing surface mapping and sampling to focus on higher grades.
Talking about the discover, Fabian Baker, President and CEO of Tethyan, said that the outcrop was found in the location predicted by the geological model they are using, and are therefore confident in targeting the core of this system. “Porphyry expert, Dr. Steve Garwin, reviewed the project in June, confirmed the porphyry characteristics of the deposit and recommended that we proceed immediately with drilling. This discovery is a testament to the untested potential of our consolidated land package in the Raska District.”
So far a mineralized area has been identified that outcrops over an area of 450m x 350m, grading at more than 0.1 g/t gold, with a core area of 125m x 100m grading at 0.3 g/t. The drill target was found by mapping and channel sampling.
Geophysics work on this area, specifically 3D geochemical modelling and structural detection and 3D magnetic data inversion using magnetic data, has indicated the presence of a potential porphyry core between 150 metres and 700 metres below the outcropping mineralization, with lateral dimensions of 750 metres by 500 metres. Mapping and sampling work is continuing to the south east.
A 1000m x 200m coincident gold-silver-antimony anomaly running alongside the granodiorite/serpentinite contact has been defined from recent soil sampling. High-grade soil samples from this anomaly have produced values of up to 1.37 g/t gold and 8.39 g/t silver. Detailed mapping and a ground magnetic survey are underway to help focus drill targets here.
Geochemical footprint modelling
Tethyan have employed Fathom Geophysics to help develop a propriety model that uses the known distribution of trace elements found within the exploration projects dataset and compares them to an ‘idealized’ chemical footprint of a porphyry deposit. The strength of the data correlation between the project data derived from exploration with the ‘ideal’ model allows for the production of 3D models used to indicate probability of porphyry mineralization. This model is being used to help guide the continuing exploration at Kremice.
About Tethyan Resource Corp.
Tethyan Resource Corp., a member of the Augusta Group of Companies, is a precious and base metals mineral exploration company incorporated in British Columbia, Canada, and listed on the TSX Venture Exchange. Tethyan is focused on the Tethyan Metallogenic Belt in Eastern Europe, mainly Serbia, where it is acquiring and exploring a portfolio of quality precious and base metals projects with known mineralization and compelling drill targets. Tethyan emphasizes responsible engagement with local communities and stakeholders, and is committed to the proactive implementation of Good International Industry Practice (GIIP) and sustainable health, safety and environmental management. More information can be found on Tethyan’s website: www.tethyan-resources.com.