Reservoir Minerals Inc.: Drilling Started at Aljin Do and Initial Drill Results from Plavkovo in Serbia
03.05.2012 | Marketwire
VANCOUVER, 05/03/12 - Reservoir Minerals Inc. (TSX VENTURE: RMC) (PINKSHEETS: RVRLF) (BERLIN: 9RE) ("RMC" or the "Company") is pleased to report that it has commenced drilling at the Aljin Do copper gold prospect in the Company's 100%-owned Stara Planina Exploration Permit in Serbia. An initial diamond drill program of up to 700 metres is planned to test targets generated from surface mapping, sampling and geophysical surveys (induced polarization and magnetometry) completed during 2011.Dr. Simon Ingram, President and CEO of Reservoir Minerals, commented: "This year we have active exploration programs on all of our 100%-owned exploration projects in Serbia, and look forward to reporting the exploration results as they become available. The Aljin Do prospect has historic mining production of high grade copper and gold mineralization which will be targeted during this exploration program."
Aljin Do Project
The Aljin Do prospect is located in the Company's 100%-owned Stara Planina Exploration Permit in Serbia. Mineralization containing copper, gold, bismuth and antimony at Aljin Do is hosted by quartz veins and structurally controlled zones of intense silicification over a strike length of 1100 metres. The silicification zone is up to 40 metres wide. There was minor production from this mineralization in the 20th century, with various historical sources quoting grades of 24 - 62 grams per tonne ("g/t") gold and 4 - 6 percent copper. Reconnaissance sampling by the Company yielded 13 samples containing greater than 5 g/t gold, with maximum 70 g/t gold. Ground magnetometry, induced polarisation geophysics, detailed geological mapping, and 3-D modeling of the geology and historic workings have been undertaken in preparation for drilling.
Plavkovo Project
The Company has concluded a two-hole drilling campaign to test the intense hydrothermal alteration and surface gold mineralization, coupled with a strong geophysical induced polarization anomaly, in the "Gypsum Zone" at the eastern of the Plavkovo prospect in the Company's 100%-owned Plavkovo Exploration Permit in Serbia.
Drill hole PV-1 intersected hydrothermally altered andesites and tuffs that are locally brecciated. Disseminated pyrite and pyrite-quartz veins are recorded throughout the length of core, and copper is anomalous (100 to maximum 914 parts per million) in the core from 12.4 to 90.8 metres. Drill hole PV-2 intersected a similar sequence of altered tuffs and andesites. Analysis of the core is on-going, and the best result to date is 1.32 g/t gold over 3.3 metres from 57.8 to 61.1 metres in drill hole PV-2. The alteration and mineralization is considered to be intermediate-sulfidation epithermal in type, and occurs at the eastern end of an 800 meter long, east-west trending, 150 meter wide zone of outcropping copper-gold mineralization. An updated geological map with drill hole locations and sections are provided on the Reservoir Minerals Inc. web site (http://www.reservoirminerals.com/Our-Projects/Europe/Plavkovo/Photo-Gallery-Plavkovo/default.aspx).
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X Y Azimuth Declination
Drill hole ID coordinate coordinate (degrees) (degrees) Depth (m)
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PV-1 7474089 4787472 302 -73 239.8
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PV-2 254 -55 243.8
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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.
Qualified Person:
Dr. Duncan Large, Chartered Engineer (UK) and Eur. Geol., a Qualified Person as defined by National Instrument 43-101 and consultant to the Company approved the technical disclosure 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 and West Africa.
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.
Contacts:
Reservoir Minerals Inc.
Chris MacIntyre, VP Corporate Development
+1.416.703.0010
chris@reservoirminerals.com
www.reservoirminerals.com