Tethyan Resources, a TSX-V listed junior exploration company, has launched an initial 1,000m drill campaign in Serbia at a brownfield zinc-lead-silver target, which is the extension of mineralization at the Kizevak mine.
Image: Silver bullion bar 1000oz top view. Photo courtesy of Unit 5/Wikipedia.
The Kizevak mine was a historic, past-producing mine located in the Trepca mining district.
Tethyan, which has also completed a previously announced acquisition of Serbian mining company Taor, holds exploration licenses (ELs) that span about 443 km2 in Southwest Serbia and Northern Kosovo.
The company said that the newly acquired ELs from Taor are located near its Suva Ruda project.
Tethyan president and CEO Fabian Baker said: “Tethyan now controls a very significant land package in a historic mining district that includes multiple historic zinc-lead-silver and copper-gold exploration targets, as well as previously-producing small-scale mines.
“During the process of finalising the acquisition, Tethyan was granted the right to begin permitting for a drill programme, and it is a testament to our local team and the support of the local communities that we were able to secure the required permissions and build the drill pads in a matter of weeks.
According to Tethyan, its 1,000m drilling program targets zinc-lead-silver mineralization that has been identified by historical exploration. It will be along strike from the inactive Kizevak open-pit mine, which is currently owned by a third party.
Tethyan said that recently completed soil and rock sampling on the Taor licenses showed multiple zinc-lead-silver and gold-copper anomalies. These included the Kizevak southern soil anomaly, located 800m south of the Kizevak mine, said the exploration company.
The Kizevak southern soil anomaly is defined by a 1,300 by 150m lead-zinc soil anomaly and coincident 400 by 290m gold-silver soil anomaly.
Another anomaly is the Sastavci gold-silver-lead-zinc target, which is defined by a 290 by 230m gold-silver-lead-zinc soil anomaly. Other anomalies returned from the soil and rock sampling are Bukovik Lithocap, Plavkovo and the Lipovica targets.
Apart from the drilling program at the zinc-lead-silver target near the Kizevak mine, Tethyan has secured an additional investment from Southern Arc Minerals.