Located in the central part of North Troodos, the Magellan Project comprises the Kokkinoyia, Klirou and New Sha licence areas. These are the Company’s most advanced prospects, containing JORC 2012 Resources totalling ~16.6 million tonnes of ore ranging from 0.45% to 0.80% copper grades. All three prospects contain indications of significant quantities of gold,including a Resources estimate of 112,000oz at Kokkinoyia. Due to the sporadic nature of historical gold assays, gold has not yet been incorporated into the Klirou or New Sha Resources. Furthermore, all three prospects have exploration upside. The project is being developed with a ‘hub-and-spoke’ approach, either utilising existing nearby infrastructure or a mobile plant, to produce a saleable copper–gold concentrate as the primary product.