RMC – Reservoir Growing a Monster in Serbia, Drills 11.29% Copper Equivalent Over 166m

POSTED ON December 03, 2013 BY Travis McPherson
CATEGORY Companies, Copper, Gold, Mineral Exploration, Mining, Reservoir Minerals,

Reservoir has made a world-class Cu-Au discovery in Serbia (Company)

After the close yesterday, Reservoir Minerals (RMC:TSXV) released assay results for five drill holes from the Timok project (joint venture with Freeport McMoran). Two of the five holes intersected high-grade copper-gold mineralization in the high-sulphidation epithermal zone in the Cukaru Peki target. The highlight was drill hole FMTC 1341 which intersected a massive, 166 metres (from 557.0 to 723.0 metres) of 11.29% copper equivalent (CuEq, average 6.65% copper and 7.75g/t gold). This hole included 59.8 metres, (from 557.0 to 616.8 metres) with an extraordinarily high-grade of 23.38% CuEq (average 14.17% copper and 15.35 g/t gold). This latest batch represents infill drilling which now increases the confidence in the continuity of mineralization and the consistency of the high-grade mineralization.

Dr. Simon Ingram, president and CEO of Reservoir Minerals, commented: "We believe that the discovery at Cukaru Peki demonstrates the potential for additional blind discoveries within the Timok magmatic complex and may lead to a renaissance in copper and gold production in Serbia."

Drilling to date has identified a large zone of high-grade copper and gold, which is thought to be a high-sulphidation epithermal system surrounded by a larger zone of porphyry-style copper and gold mineralization. The Borska Reka deposit has been drill tested to at least 1.5km. The two latest highlight intercepts were collared roughly 350m from the September 2012 discovery hole which intersected 160m of 10.16% CuEq. Additionally, the high-grade intercept in hole FMTC 1341 is only 150m from the high-grade intercepts discovered in that September 2012 hole. This is significant because previous to this infill drilling campaign, it was thought that there may be large gaps between high-grade pockets, however, now it looks like it may be continuous (or partially continuous).

Drilling has been scaled back to one drill rig which will focus on the high sulphidation system for the remainder of 2013 to keep the project within the budgeted $12.6 million. The project is owned 55% by Freeport McMoran and 45% by Reservoir. Freeport is earning up to 75% by solely funding exploration efforts up to a final feasibility study. These infill holes solidify this project as a world-class copper-gold deposit with exceptional grades.

Here's the 6-month chart:

Read: Reservoir Minerals Reports Drill Intervals of 166 Metres Grading 11.29% CuEq and 128.7 Metres Grading 8.41% CuEq at the Timok Cu-Au Project, Serbia

Travis McPherson

trav@ceo.ca

Travis McPherson

trav@ceo.ca

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