The results of drilling in the Leskovo Exploration Permit include drill hole FMLC 1301 with approximately 211 vertical metres (244.0 metres, from 10.0 to 254.0 metres angled at 60º) through porphyry style copper-gold mineralisation at an average of 0.19% copper and 0.30 grams per tonne (g/t) gold for 0.37 copper-equivalent % (CuEq%, calculated from the formula "Copper % + 0.6 x g/t of gold"). New targets were also successfully drilled in the Jasikovo-Durlan Potok Exploration Permit and are reported below.
These two exploration permits are included with the Brestovac-Metovnica Exploration Permit in the Timok Project, eastern Serbia, which is a joint venture with Freeport-McMoRan Exploration Corporation ("Freeport"). The Company announced an initial resource estimate (65.3 million tonnes (Mt) at an average grade of 2.6% copper and 1.5 grams per tonne (g/t) gold) for the Cukaru Peki copper-gold deposit in the Brestovac-Metovnica Exploration Permit in News Release, January 27, 2014.
Dr. Simon Ingram, President and CEO of Reservoir Minerals Inc. commented: "The Company believes that discovery of long intersections through porphyry-style copper-gold mineralisation from near surface in the Leskovo Exploration Permit is very encouraging. RTB Bor currently operate open pit mines in the Timok Magmatic Complex at average grades similar to the 211 meters at 0.37 CuEq% reported from Leskovo in this news release. The Company believes that the copper-gold mineralisation identified in new prospects in the Jasikovo-Durlan Potok Exploration Permit are also promising, and confirm the potential for discovery of new copper-gold targets in the Timok Magmatic Complex, including the Timok Project properties as well as in Reservoir’s 100% owned Timok properties."
