13th Sep 2021 19:30
Caerus Mineral Resources PLC - copper and gold explorer with licenses in Cyprus - Following due diligence scout drilling on the recently acquired Pano Lefkara licence in Cyprus, has confirmed the intersection of significant gold oxide and copper, with gold sulhide mineralisation at shallow depth.
Project area is considered "drill-ready" and diamond drilling is due to be scheduled for the project.
"We held the view that Pano Lefkara was potentially larger than assumed by previous exploration teams and these results significantly enlarge the footprint of the drill-ready mineralised target zone of 500 metres by 400 metres. Good gold grades from surface are encouraging and may ultimately contribute to the economics of any future discovery by meeting costs of stripping to expose underlying sulphide mineralisation," says Chief Executive Officer Martyn Churchouse.
Current stock price: 27.09 pence
Year-to-date change: up sharply from 13.00p since March 19
By Dayo Laniyan; [email protected]
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