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Caerus Minerals well advanced in drilling at North Mathiatis

Published: 07:59 17 May 2021 BST

Caerus Mineral Resources -

Caerus Mineral Resources Plc (LON:CMRS) has completed 24 of a planned 39 drill holes at its North Mathiatis copper-bearing waste stockpiles in Cyprus.

Full completion of the programme is expected by the end of May 2021.

The focus will then move to the epithermal gold oxide resources and copper sulphide target at Troulli where site preparation is ongoing.

Meanwhile, further work is underway to establish a maiden NI 43-101 copper resource estimate at Mala. Caerus continues to investigate the potential of profitably exploiting the smaller, high-grade assets within its portfolio.

The company is also working to prioritise prospective copper-gold projects in the context of the criteria laid down by the new joint venture with Jubilee Metals (LON:JUB).

Caerus is also in advanced discussions with the owner and titleholder of three highly prospective sites, each with historic copper-gold mining operations and one with a new mining licence application under active consideration by the Mines Department of the Cyprus Government.

"We are actively pursuing our twin objectives of creating a platform for our' waste to revenue' strategy and driving forward our exploration programme to declare NI-43-101 resources and locate new VMS opportunities for future exploitation,” said Caerus chief executive Martyn Churchouse.

“We will continue to update our shareholders as we advance our core objectives alongside the identification of further bolt-on acquisitions to broaden our footprint and increase shareholder value as we seek to become a key operator within Cyprus."

 

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