Ariana Resources plc, an AIM-listed mineral exploration and development company with gold mining interests in Europe, has announced the grant of a further exploration license in Kosovo to Western Tethyan Resources Ltd (WTR), which is 75% owned by Ariana. WTR has three other license applications in Kosovo currently awaiting final approval from the Independent Commission for Mines and Minerals (ICMM).
- Hertica exploration license, comprising 58 km2, lies in the north-eastern part of Kosovo in a highly-prospective area which also hosts the Tulare porphyry (300 million t at 0.27% copper [Cu] and 0.26 g/t gold [Au]) and the Drazhnja polymetallic deposit (4.7 million t at 7% lead-zinc [Pb-Zn] and 45 g/t silver [Ag]).
- The project area contains a large 6 km2 zone of advanced argillic alteration, with several quartz-diorite porphyry intrusions containing associated copper, gold and antimony mineralisation.
- Reconnaissance work has returned several highly anomalous gold-bearing samples across several different alteration styles of the epithermal-porphyry target:
- Up to 0.4 g/t Au and 0.5% Cu from Quartz-Sericite-Pyrite (QSP) alteration zone.
- Up to 0.12 g/t Au from the vughy silica samples.
- WTR has immediately commenced formal exploration work, which will include a license-wide pXRF soil sampling programme.
- WTR now holds 297 km2 of highly-prospective ground under licence in Kosovo, with a further 161 km2 under application.
Dr Kerim Sener, Managing Director, Ariana Resources, commented: “The addition of the highly-prospective Hertica Project to the Western Tethyan portfolio is an important step in the development of our exploration pipeline in Kosovo. This comes at a time when exploration activities in the country are gearing up, through our partnership with Newmont Corp. We are excited about the latest progress in Kosovo and the wider south-eastern European region, with multiple projects and target areas already defined. The region is host to several multi-million-ounce gold (and copper) deposits, yet remains relatively under-explored. This represents the sweet-spot for Ariana and our partners in the region, and we are applying the latest geological thinking and technological developments to our search for new multi-million-ounce deposits.”
Mentor Demi, Managing Director of Western Tethyan Resources Ltd, added: “We are very excited about the addition of the Hertica Epithermal-Porphyry Project to our exploration portfolio. Considering the impressive visual targets in the alteration zone and intriguing associated geochemistry results, we plan to move the Project forward rapidly through intense and systematic exploration work. The company is ideally positioned to develop the project through the exploration alliance agreement with Newmont Corp. and Ariana Resources as partners.”
Read the article online at: https://www.globalminingreview.com/exploration-development/26072022/western-tethyan-resources-granted-new-licence/
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