VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 2, 2013) - (TSX VENTURE:RMC)(PINKSHEETS:RVRLF)(BERLIN:9RE) Reservoir Minerals Inc. ("Reservoir" or the "Company"), is pleased to provide an update on the diamond drilling program currently underway on the Cukaru Peki target in the Company's Timok Project, eastern Serbia, which is a joint venture with Freeport-McMoRan Exploration Corporation ("Freeport"). Results from five drill holes are reported, two of which intersected high-grade copper-gold mineralization in the high-sulphidation epithermal zone in the Cukaru Peki target.
Drill hole FMTC 1341 intersected an interval of 166.0 metres, from 557.0 to 723.0 metres, with an average grade of 11.29% copper equivalent ("CuEq", average 6.65% copper and 7.75 grams per tonne ("g/t") gold), including 59.8 metres, from 557.0 to 616.8 metres, with an extraordinarily high average grade of 23.38% CuEq (average 14.17% copper and 15.35 g/t gold). Copper equivalent (CuEq) is calculated using the formula (copper % + 0.6 x g/t of gold). Other details from drill hole FMTC 1344 are provided in Table 1.
Dr. Simon Ingram, President and CEO of Reservoir Minerals Inc. commented: "Drilling at Cukaru Peki continues to return spectacular high grade copper and gold values from high sulphidation mineralization. We are optimistic that the high grade mineralization may be of sufficient volume and grade to support an underground mining operation while further exploration is carried out on the underlying larger porphyry style mineralization. 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."................. Copper equivalent (CuEq%) is calculated using the formula (Copper % + 0.6 x g/t of gold).
See section below "Note on Analytical Procedures" for information pertaining to analytical techniques.
Status of Drilling and Project:
The Company has reported the results from 17 diamond drill holes in the Cukaru Peki Project, assay results are pending from a further 19 holes (including 4 reconnaissance holes in the Miocene Basin area), and 1 hole is currently being drilled (see Table 2). The drill hole collar locations are shown on a map (Timok Project Drill Plan) and summary results and graphical strip-logs (Timok Project Strip Logs) are available on the Company website (www.reservoirminerals.com). Pending analytical results will continue to be released after they are received and evaluated.
The drilling to date has identified a zone of high-grade copper-gold mineralization, which is interpreted to be high-sulphidation epithermal in type, and a larger zone of porphyry-style copper-gold mineralization. The drill holes in the Cukaru Peki target area are located approximately 7.5 kilometres from the Bor cluster of copper-gold deposits including
not going to argue about the fact some good news would be welcome......in saying that we've had nothing but good news (operationally anyway) and only had one or 2 small rises this year...??
what we need, and many of us suspect we'll get it, is a real humdinger of an rns confirming very high grades and more importantly massive volumes of mineralisation at or near the surface at preferably both our potentially world class prospects.........
my point to griffalo was that he has consistently knocked this company for the last 18mths(at least) yet now considers himself one of 'us'..........there's a group of core posters on here who are some of the best posters on lse (imho) and griffalo is certainly not one of them.....!!!
I consider this investment as a long term buy and hold for massive returns within the next 3-5 years.....some may be fortunate and trade the swings in between times but the greatest returns will be made by those who hold or trade to increase their holdings in here....imo..!!!
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