Caerus Mineral Resources PLC (LON: CMRS) has commenced a second phase of drilling at the Troulli copper-gold project in Cyprus.
Troulli is the flagship property in the suite of assets acquired from the recent takeover of PR Ploutonic Resources Ltd.
The goal of the programme is to expand the coverage over the high-grade epithermal gold zone and to target the underlying copper-gold sulphide mineralisation.
Two volcanogenic massive sulphide bodies will be drilled, to build on the known high-grade sulphide mineralisation within the Troulli Licence.
The drilling also aims to define the limits of the surface epithermal gold mineralisation, which previously returned grades of up to 5.1 grams per tonne gold over 12 metres. Drillhole density will be sufficient to permit a mineral resource estimation.
In parallel, a surface sampling programme will be undertaken to better define the mineralogy, metallurgy, grade and tonnage of the existing ore stockpiles, dumps, and tailings within the licence boundary as part of the ongoing programme devised by partner Jubilee Metals Group (LON:JLP).
"The commencement of the phase II drill programme is a significant step in the development of the Troulli project,” said Martyn Churchouse, chief executive of Caerus Mineral Resources.
“It marks the point at which we begin to build a mineral resource and provisionally plan for the development and processing of both the metal-bearing surface materials and the high-grade hard rock copper and gold mineralisation beneath. Troulli is the model template that we plan to roll out across our growing suite of assets as we expand our resource base."