SYS-CON MEDIA Authors: Elizabeth White, Pat Romanski, Carmen Gonzalez, Liz McMillan, Kevin Jackson

News Feed Item

Exploration Update on Reservoir Minerals 100%-Owned Timok Properties

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/09/14 -- Reservoir Minerals Inc. (TSX VENTURE:RMC)(PINKSHEETS:RVRLF)(BERLIN:9RE) ("Reservoir" or the "Company") is pleased to provide an update on exploration activities in the Company's 100%-owned Properties in the Timok Magmatic Complex in Serbia. The Company is budgeting up to $5 million on exploration programs this year, including systematic geochemical sampling, ground geophysics, trenching and drilling on the Coka Kupijatra, Tilva Njagra, Nikolicevo and Kraljevica exploration permits, which cover a combined area of 293.2 square kilometres. A map showing the locations of these exploration permits is posted on the Company website (www.reservoirminerals.com).

Dr. Simon Ingram, President and CEO of Reservoir Minerals Inc. commented: "The proximity of the Nikolicevo and Kraljevica exploration permits to the Bor copper-gold mining complex and the Cukaru Peki copper-gold discovery, combined with favourable geology, the lack of any historical drilling, and the encouraging results from initial Company fieldwork, make this a very exciting program for us, with potential to discover new porphyry and epithermal copper-gold targets. Company geologists have integrated their detailed understanding of the geology of the Bor mining district and the Cukaru Peki discovery to design an effective exploration campaign to test these permits. Evaluation of the drilling already completed on the Coka Kupijatra and Tilva Njagra exploration permits also provides support for the presence of epithermal gold and porphyry copper-gold mineralisation."

Nikolicevo and Kraljevica Exploration Permits

The Nikolicevo and Kraljevica exploration permits are located in the eastern Timok. The Nikolicevo exploration permit is adjacent and to the east of the Brestovac-Metovnica Permit (approximately 5 kilometres east of the Cukaru Peki discovery) and about 8.5 kilometres southeast of the Bor copper-gold mining complex. The Kraljevica permit is located on strike to the south of the Nikolicevo exploration permit.

The underlying geology in both permits includes andesites from the first phase of volcanism, which are the host rocks to the Cukaru Peki copper-gold mineralisation in the Brestovac-Metovnica permit, and the volcano-sedimentary post-mineralization succession all of Upper Cretaceous age and unconformably overlying Miocene clastic sediments in the east of the permit areas.

In spite of its proximity to the Cukaru Peki discovery and the Bor mining district, the Company is not aware of any historical exploration on either of the permits and there are no records of any previous drilling. There are no known copper or gold mineral occurrences recorded on either of the permits.

The Company has initiated a fast-track exploration campaign on both permits, which includes detailed geological mapping, structural analysis, systematic soil and rock geochemical sampling, ground geophysics (magnetometry, controlled source magneto-telluric (CSAMT) and induced polarisation (IP)). The initial results have identified geochemical anomalism (rock chip and soil geochemistry) and surface indications of copper mineralisation hosted by andesites in a favourable structural setting and with a distinctive geophysical signature. Company geologists are now defining targets that will be tested by an initial 3,000 metre drilling campaign this summer.

Coka Kupijatra and Tilva Njagra Exploration Permits

The Coka Kupijatra and Tilva Njagra exploration permits are located in the western Timok and include basaltic andesites of the second phase of Upper Cretaceous volcanism, which are characterised by extensive hydrothermal alteration and epithermal gold and porphyry copper-molybdenum mineralisation. Occurrences within the permits include the high-sulphidation gold mineralisation at Coka Frasen, Coka Kupjatra, Beljevina-Kumustaka and Tilva Njagra and the low sulphidation gold-bearing vein-type mineralisation at Zlace. Historical work by state-owned agencies and companies in the period 1960 to 1990 focussed on discovery of copper mineralisation that could add to the resources being exploited by the state-owned mining company at Bor and Majdenpek.

During 2012 and 2013 Freeport-McMoRan Exploration Corporation ("Freeport"), independently and without technical support from the Company, undertook a limited CSAMT survey on the Tilva Njagra permit, and drilled eight wide-spaced holes at different targets to test for porphyry copper-gold mineralisation in both the Coka Kupijatra and Tilva Njagra exploration permits. Only selected intervals in five holes were analysed for copper and other elements by ICP-AES and for gold by fire assay and AAS and no analyses have been undertaken on core from three of the holes. Weak copper mineralisation was found in two holes and low-grade, high-sulphidation gold mineralisation in the near surface sections of the Kulmea target (FMWC 1201 intersected an average of 0.54 grams per tonne gold over 41.0 metres (from 0.0 to 41.0 metres) from surface). Maps showing the location of the exploration permit perimeters, mineral occurrences and drill holes, and tables with the significant intercepts are presented on the Company website (www.reservoirminerals.com).

The Company is carrying out further geochemical analysis on the drill cores. Logging of the drill core by Company geologists identified extensive zones of hydrothermal and tectonic breccias in the host andesites, which are moderately to strongly altered (silicification and argillic) and contain traces of chalcopyrite.

The Company has initiated an exploration campaign focussed on discovery of epithermal and porphyry copper-gold mineralisation on both permits, including systematic soil and rock geochemical sampling, ground geophysics (magnetometry and IP), and drilling.

Quality Assurance and Control ("QAQC"):

Drill hole orientations were surveyed at approximately 50 metre intervals. The core was cut into two equal halves, and sampled over 1 to 3 metre intervals. The samples were submitted to Eurotest Control EAD Laboratory in Sofia, Bulgaria, for sample preparation. The prepared samples were analysed for gold by fire assay at the ALS Chemex laboratories in Rosia Montana, Romania, and by multi-element ICP at the Eurotest Control EAD Laboratory (ISO 9001:2008 and ISO 17025 accredited) in Sofia, Bulgaria. Twenty-one samples were submitted to Eurotest Control EAD Laboratory (ISO 9001:2008 and ISO 17025 accredited) in Sofia, Bulgaria. In addition to the laboratory's internal QAQC procedures, certified reference materials, blank samples and field duplicate samples were inserted into the sample batches. The Company has evaluated the analytical results from the quality control samples and they conform to best practice standards.

The Timok Project:

The Company's most notable discovery to date is the Cukaru Peki copper-gold deposit in Serbia, which is part of the Timok Project. The Company announced an initial resource estimate (65.3 million tonnes at an average grade of 2.6% copper and 1.5 grams per tonne gold) for the Cukaru Peki copper-gold deposit in the Brestovac-Metovnica Exploration Permit in News Release, January 27, 2014, and provided an update on exploration for copper-gold mineralisation in the Leskovo and Jasikovo-Durlan Potok Exploration Permits in News Release, June 4, 2014. The Timok Project is a joint venture with Freeport-McMoRan Exploration Corporation ("Freeport") on three exploration permits (Brestovac-Metovnica, Leskovo and Jasikovo-Durlan Potok) in the Timok Magmatic Complex that cover a combined area of 245 square kilometres. Maps showing the location of the exploration permit perimeters and the Cukaru Peki copper-gold deposit are presented on the Company website (www.reservoirminerals.com).

Qualified Person:

Dr. Duncan Large, Chartered Engineer (UK) and Eur. Geol., a Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators and a consultant to the Company, has approved the technical disclosure in this release and verified the data disclosed.

About the Company:

Reservoir Minerals Inc. is an international mineral exploration and development company run by a experienced technical and management team, with a portfolio of precious and base metal exploration properties in Europe and Africa. The Company operates an exploration partnership business model to leverage its expertise through to discovery.

Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
“The year of the cloud – we have no idea when it's really happening but we think it's happening now. For those technology providers like Zentera that are helping enterprises move to the cloud - it's been fun to watch," noted Mike Loftus, VP Product Management and Marketing at Zentera Systems, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Today’s enterprise is being driven by disruptive competitive and human capital requirements to provide enterprise application access through not only desktops, but also mobile devices. To retrofit existing programs across all these devices using traditional programming methods is very costly and time consuming – often prohibitively so. In his session at @ThingsExpo, Jesse Shiah, CEO, President, and Co-Founder of AgilePoint Inc., discussed how you can create applications that run on all mobile ...
The Industrial Internet revolution is now underway, enabled by connected machines and billions of devices that communicate and collaborate. The massive amounts of Big Data requiring real-time analysis is flooding legacy IT systems and giving way to cloud environments that can handle the unpredictable workloads. Yet many barriers remain until we can fully realize the opportunities and benefits from the convergence of machines and devices with Big Data and the cloud, including interoperability, ...
Companies today struggle to manage the types and volume of data their customers and employees generate and use every day. With billions of requests daily, operational consistency can be elusive. In his session at Big Data Expo, Dave McCrory, CTO at Basho Technologies, will explore how a distributed systems solution, such as NoSQL, can give organizations the consistency and availability necessary to succeed with on-demand data, offering high availability at massive scale.
IoT is still a vague buzzword for many people. In his session at @ThingsExpo, Mike Kavis, Vice President & Principal Cloud Architect at Cloud Technology Partners, discussed the business value of IoT that goes far beyond the general public's perception that IoT is all about wearables and home consumer services. He also discussed how IoT is perceived by investors and how venture capitalist access this space. Other topics discussed were barriers to success, what is new, what is old, and what th...
Security can create serious friction for DevOps processes. We've come up with an approach to alleviate the friction and provide security value to DevOps teams. In her session at DevOps Summit, Shannon Lietz, Senior Manager of DevSecOps at Intuit, will discuss how DevSecOps got started and how it has evolved. Shannon Lietz has over two decades of experience pursuing next generation security solutions. She is currently the DevSecOps Leader for Intuit where she is responsible for setting and driv...
Dale Kim is the Director of Industry Solutions at MapR. His background includes a variety of technical and management roles at information technology companies. While his experience includes work with relational databases, much of his career pertains to non-relational data in the areas of search, content management, and NoSQL, and includes senior roles in technical marketing, sales engineering, and support engineering. Dale holds an MBA from Santa Clara University, and a BA in Computer Science f...
SYS-CON Events announced today that CodeFutures, a leading supplier of database performance tools, has been named a “Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. CodeFutures is an independent software vendor focused on providing tools that deliver database performance tools that increase productivity during database development and increase database performance and scalability during production.
The Internet of Things (IoT) is rapidly in the process of breaking from its heretofore relatively obscure enterprise applications (such as plant floor control and supply chain management) and going mainstream into the consumer space. More and more creative folks are interconnecting everyday products such as household items, mobile devices, appliances and cars, and unleashing new and imaginative scenarios. We are seeing a lot of excitement around applications in home automation, personal fitness,...
The Internet of Things (IoT) promises to evolve the way the world does business; however, understanding how to apply it to your company can be a mystery. Most people struggle with understanding the potential business uses or tend to get caught up in the technology, resulting in solutions that fail to meet even minimum business goals. In his session at @ThingsExpo, Jesse Shiah, CEO / President / Co-Founder of AgilePoint Inc., showed what is needed to leverage the IoT to transform your business. ...
Vormetric on Wednesday announced the results of its 2015 Insider Threat Report (ITR), conducted online on their behalf by Harris Poll and in conjunction with analyst firm Ovum in fall 2014 among 818 IT decision makers in various countries, including 408 in the United States. The report details striking findings around how U.S. and international enterprises perceive security threats, the types of employees considered most dangerous, environments at the greatest risk for data loss and the steps or...
Things are being built upon cloud foundations to transform organizations. This CEO Power Panel at 15th Cloud Expo, moderated by Roger Strukhoff, Cloud Expo and @ThingsExpo conference chair, addressed the big issues involving these technologies and, more important, the results they will achieve. Rodney Rogers, chairman and CEO of Virtustream; Brendan O'Brien, co-founder of Aria Systems, Bart Copeland, president and CEO of ActiveState Software; Jim Cowie, chief scientist at Dyn; Dave Wagstaff, VP ...
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
Storage administrators find themselves walking a line between meeting employees’ demands to use public cloud storage services, and their organizations’ need to store information on-premises for security, performance, cost and compliance reasons. However, as file sharing protocols like CIFS and NFS continue to lose their relevance, simply relying only on a NAS-based environment creates inefficiencies that hurt productivity and the bottom line. IT wants to implement cloud storage it can purchase a...
Cloud Technology Partners on Wednesday announced it has been recognized by the Modern Infrastructure Impact Awards as one of the Best Amazon Web Services (AWS) Consulting Partners. Selected by the editors of TechTarget's SearchDataCenter.com, and by votes from customers and strategic channel partners, the companies acknowledged by the Modern Infrastructure Impact Awards represent the top providers of cloud consulting services for AWS including application migration, application development, inf...