Caerus Mineral Resources plc reported high grade gold assays made for a target ready to drill at its Kambia – Kapedes copper-gold project in Cyprus.
KAMBIA
The Kambia mine operated between 1952 and 1960 primarily as a pyrite mine and the Kokkinovounaros (Red Hill) auriferous gossan was discovered and mined for a short time during the 1930s.
RESULTS
The first batch of partial assays (Au) of chip-channel samples from recent exploration work returned peak gold assays of 7.4g/t Au, 6.5g/t Au and 5.3g/t Au.
Caerus sampled the Kokkinovounaros auriferous gossan, 600 metres southeast of the Kambia pit indicating a target with a substantial strike length.
A total of nine samples returned Au grades above 1g/t and a total of 12 samples were higher than 0.5g/t Au.
The company said that the results were “sufficiently encouraging” to warrant further detailed follow-up work, including detailed structural/geological mapping to generate targets for future drill testing.
This could also possibly be the start of a dedicated exploration programme aimed at the delineation of a stand-alone gold or copper-gold project.
| Sample ID | Type | Sampled Length (m) | Grade (g/t) Au |
| 18920 | Channel | 2.00 | 7.44 |
| 18909 | Channel | 2.00 | 6.46 |
| 18936 | Channel | 2.00 | 5.33 |
| 18913 | Channel | 2.80 | 3.56 |
| 18912 | Channel | 1.00 | 2.99 |
| 18928 | Channel | 5.00 | 2.59 |
| 18943 | Channel | 1.00 | 1.99 |
| 18942 | Channel | 4.00 | 1.79 |
| 18918 | Channel | 2.00 | 1.40 |
| 18937 | Channel | 2.00 | 0.62 |
| 18939 | Channel | 1.00 | 0.51 |
PROGRAMME
Sampling to date has been collected by hand from vertical and horizontal channels over lengths ranging from 1m to 5m.
Caerus soon expects multi-element assays from the laboratory, providing further detailed information on potential copper and other base metal content.
OPPORTUNITY
“The combination of high-grade gold assays at regular intervals all along the 175m strike length of the target defined to date makes for a ready-made drill target and another promising opportunity for Caerus,” said chief executive Martyn Churchouse.
“Our brownfield policy yet again delivers encouraging results with scope for the development of a new stand-alone operation based around dumps and stockpiles from previous mining in conjunction with the newly discovered gold potential and any other copper-gold mineralisation remaining in the ground that was not exploited between 1930 and 1960.”