Caerus Mineral Resources PLC (LON:CMRS) said it is making good progress with its data analysis and modelling work on its Cyprus exploration portfolio.
The compnay is also well ahead of schedule with the compilation and creation of a substantial database and geological information system based on records held by the Mines Department of Cyprus and the Geological Survey.
With 14 former producing mines on the Caerus licences, there is a sizeable volume of useful historic information to be processed to provide the basis for 3-D modelling and interpretation of the project geology, the company added.
Caerus is targeting mineral resources to supply the global clean energy transition.
Further progress has also been made with drone surveys that will eventually cover all areas held under licence. High-resolution photography will complement digitised data by providing an accurate framework for the overlay of newly digitised historic maps and plans to help with detailed geological mapping and future target selection.
The surveys have already highlighted a number of surface alteration targets that could be indicative of underlying mineralisation.
"We have an exciting licence portfolio where the combination of brown and greenfield exploration gives us a diverse range of target types that we can evaluate,” Caerus chief executive Martyn Churchouse said.
“Our exploration team is keen to take advantage of having a full complement of geological staff resident in Cyprus and able to commence fieldwork. As the exploration programme unfolds, shareholders can expect feedback and updates on three main project areas or suites of licences: Kalavasos, Mala and North Mathiatis."