Reservoir Minerals Inc. Announces Drilling Commences at Plavkovo Project, Serbia
20.12.2011 | Marketwire
VANCOUVER, Dec. 20, 2011 - Reservoir Minerals Inc., (TSX VENTURE: RMC) (“Minerals“ or the “Company“) is pleased to announce that it has commenced drilling on the company's 100%-owned Plavkovo exploration Permit in Serbia. An initial diamond drill program of up to 600 metres is planned in the “Gypsum Zone“ in the Plavkovo prospect, to test targets generated from surface mapping, sampling and geophysical surveys (Induced Polarization and Resistivity) completed during 2011.The Plavkovo area contains a number of anomalous occurrences and is considered to be highly prospective for epithermal-type gold mineralization. Porphyry copper-gold mineralization on the Rudnitsa Permit (adjacent to the north) was discovered by Euromax Resources Ltd. under the terms of an option agreement with Freeport McMoRan Exploration Corp.
The Plavkovo gold-copper prospect is marked by a 150 metre wide zone of anastomosing sulphide-bearing quartz veins and veinlets in a structurally controlled zone of brecciated andesites exhibiting intense argillic alteration. Previous exploration including grab-sampling of outcrops in the Plavkovo area yielded a maximum of 13.55 parts per million (“ppm“) gold; 253 rock samples taken from the prospect averaged 0.36 ppm gold. Grab samples are selective by nature and are unlikely to represent average grades of the deposits. Chip-channel sampling from outcrops and four trenches tested a strike-length of 360 metres along the mineralized structure. The samples were all collected across strike, and the best results are tabulated below. The mineralization exposed in trenches B and C continues into waste material from earlier exploration and historic mining, which prevents a complete understanding of the true surface extent.
Trench # length (metres) Gold (ppm) Copper (%)
A 4.9 1.12
B 8.0 1.41
C 26.7 0.37
including 5.5 0.96
16.2 0.21
D 14.0 0.49
Sample results from trenches in the Plavkovo Prospect
Systematic sampling of outcrops in the “gypsum“ zone, which is marked by pyritic and advanced argillic alteration of andesite, has yielded 14.2 metres at 0.58 ppm gold, including 2 metres at 2.2 ppm gold. Two Induced Polarization and Resistivity geophysical profiles across this zone identified very strong and coincident chargeability and conductivity anomalies. This zone is located about 400 metres east of the trenches, and suggests a possible continuation of the mineralized structure for nearly 800 metres. Further details of the Plavkovo prospect including an updated map are available on the Company website. www.reservoirminerals.com.
Quality Control:
The Company follows industry standard quality assurance and quality control procedures for all samples. The QA/QC program includes the insertion of blanks, duplicates and certified standards into the sample stream. Gold and multi-element analysis is undertaken by ALS Chemex at its laboratories in Romania and Vancouver.
Dr. Duncan Large, Chartered Engineer (UK) and Eur. Geol., a Qualified Person as defined by National Instrument 43-101 and consultant to the Company, is responsible for the preparation of the technical information in this release.
About the Company
Reservoir Minerals Inc. is an international mineral exploration and development company run by a seasoned technical and management team, with a portfolio of precious and base metal exploration properties in Serbia.
For further information on Reservoir Minerals Inc., please consult our website
www.reservoirminerals.com.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this news release.
Contact Information
Reservoir Minerals Inc.
Chris MacIntyre, VP Corporate Development
+1.416.703.0010
chris@reservoirminerals.com
www.reservoirminerals.com