LONDON (Alliance News) - Aurasian Minerals PLC on Tuesday said it has begun drilling on its Chadine polymetallic project in Serbia.
The initial plan is to drill around 1,200 meters in six to eight drill holes, with the purpose of confirming previous non-compliant work completed by the Yugoslav geological survey and to test for the presence of precious metals silver and gold within the mineralisation.
"We are excited by our first drill program in Serbia. This is the commencement of a new phase of exploration in the Balkans. Work continues on identifying opportunities throughout the Balkans region with an emphasis on precious metals and polymetallic projects. Hence, Aurasian Minerals is moving Chadine forward to identify a significant resource but also reviewing many other opportunities located within the Balkans regions of Eastern Europe," said Chief Executive Officer Peter Mullens in a statement.
Shares in Aurasian Minerals were up 7.0% at 0.535 pence Tuesday.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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