Tethyan Resources PLC (LON:TETH) said today it has completed substantial geophysical surveys at the Suva Ruda and Gokcanica projects located in Serbia, with interpretation of the data expected to be completed and announced in October.
The AIM-listed firm said the surveys were conducted by Canadian company Quantec Geoscience, a world leader in the field, using their proprietary 'TITAN 24' system, which collects two separate geophysical surveys - Induced Polarisation, as well as Magnetotelluric.
Tethyan said, at the Suva Ruda Project, the survey consisted of ten survey lines, each 2.4 kilometres long and 200 metres apart, covering the entire Rudnitza porphyry system where Tethyan have completed eight drill holes to date.
At the Gokcanica Project, five survey lines were measured, each 400 metres apart, over a mountain ridge where stream sediment and soil geochemistry indicated elevated levels of gold, copper and other elements regarded as indicative of porphyry-type mineralisation.
In preparation for the surveys, Tethyan said it was successful in gaining land access permissions to hundreds of small agricultural land plots, and from the municipal road and rail authorities as well as the local military and police forces.
READ: Tethyan Resources unearths more drill results from “very extensive mineralised system” in Serbia
Peter Mullens, Tethyan’s CEO commented "We are pleased to have completed this geophysical survey, it is a key step in building our understanding of the deposit geology at Rudnitza and the earlier-stage Gokcanica Project.”
He added: “We look forward to identifying new exploration targets which we will follow-up with drilling in due course."