Widespread gold being discovered to bolster copper resource

Klirou is a virgin discovery and a completely intact resource measuring 4.3Mt @ 0.5% Cu, 0.7% Zn (JORC 2004). The deposit was previously assessed, like most deposits in Cyprus, as a copper–zinc orebody. However, drilling undertaken by EMED Mining in the mid-2000s demonstrated that the orebody contains substantial gold. The gold remains to be factored into the Resource and is expected to add significantly to the project economics.

Furthermore, the recent application of modern scientific techniques has resulted in a better understanding of the nature and controls on mineralisation, highlighting considerable exploration upside including continuations of the existing mineralised zones, and exciting new targets adjacent to the resource and further afield within the licence area. Mineralisation identified to date extends from surface to c. 150m below surface, while the location and terrain are ideal for extraction.

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The following historical intercepts (non-JORC) demonstrate the copper potential for the Klirou orebody:

  • EMR20: 36.0m @ 2.58% Cu
  • HKL54: 50.0m @ 1.65% Cu
  • HKL80: 47.0m @ 1.63% Cu

The following historical intercepts demonstrate the gold potential for the Klirou orebody:

  • EMR19: 48.0m @ 1.15 g/t Au
  • EMR20: 36.0m @ 0.60 g/t Au
  • EMR34: 8.0m @ 1.72 g/t Au
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