|By Marketwired .||
|June 9, 2014 04:05 PM EDT||
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).
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.
With the proliferation of connected devices underpinning new Internet of Things systems, Brandon Schulz, Director of Luxoft IoT – Retail, will be looking at the transformation of the retail customer experience in brick and mortar stores in his session at @ThingsExpo. Questions he will address include: Will beacons drop to the wayside like QR codes, or be a proximity-based profit driver? How will the customer experience change in stores of all types when everything can be instrumented and a...
Sep. 4, 2015 04:15 PM EDT Reads: 529
Contrary to mainstream media attention, the multiple possibilities of how consumer IoT will transform our everyday lives aren’t the only angle of this headline-gaining trend. There’s a huge opportunity for “industrial IoT” and “Smart Cities” to impact the world in the same capacity – especially during critical situations. For example, a community water dam that needs to release water can leverage embedded critical communications logic to alert the appropriate individuals, on the right device, as...
Sep. 4, 2015 04:00 PM EDT
Manufacturing connected IoT versions of traditional products requires more than multiple deep technology skills. It also requires a shift in mindset, to realize that connected, sensor-enabled “things” act more like services than what we usually think of as products. In his session at @ThingsExpo, David Friedman, CEO and co-founder of Ayla Networks, will discuss how when sensors start generating detailed real-world data about products and how they’re being used, smart manufacturers can use the ...
Sep. 4, 2015 04:00 PM EDT
WebRTC services have already permeated corporate communications in the form of videoconferencing solutions. However, WebRTC has the potential of going beyond and catalyzing a new class of services providing more than calls with capabilities such as mass-scale real-time media broadcasting, enriched and augmented video, person-to-machine and machine-to-machine communications. In his session at @ThingsExpo, Luis Lopez, CEO of Kurento, will introduce the technologies required for implementing thes...
Sep. 4, 2015 03:45 PM EDT Reads: 142
Organizations from small to large are increasingly adopting cloud solutions to deliver essential business services at a much lower cost. According to cyber security experts, the frequency and severity of cyber-attacks are on the rise, causing alarm to businesses and customers across a variety of industries. To defend against exploits like these, a company must adopt a comprehensive security defense strategy that is designed for their business. In 2015, organizations such as United Airlines, Sony...
Sep. 4, 2015 03:30 PM EDT Reads: 544
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
Sep. 4, 2015 03:30 PM EDT Reads: 979
Any Ops team trying to support a company in today’s cloud-connected world knows that a new way of thinking is required – one just as dramatic than the shift from Ops to DevOps. The diversity of modern operations requires teams to focus their impact on breadth vs. depth. In his session at DevOps Summit, Adam Serediuk, Director of Operations at xMatters, Inc., will discuss the strategic requirements of evolving from Ops to DevOps, and why modern Operations has begun leveraging the “NoOps” approa...
Sep. 4, 2015 03:30 PM EDT Reads: 469
While many app developers are comfortable building apps for the smartphone, there is a whole new world out there. In his session at @ThingsExpo, Narayan Sainaney, Co-founder and CTO of Mojio, will discuss how the business case for connected car apps is growing and, with open platform companies having already done the heavy lifting, there really is no barrier to entry.
Sep. 4, 2015 03:00 PM EDT Reads: 227
To assist customers with legacy Windows Server 2003 that is no longer supported by Microsoft, Racemi has introduced fixed price packages for upgrading and migrating Windows Server 2003 servers to either Windows 2008 R2 or Windows 2012 R2 and the choice of Amazon Web Services (AWS) or SoftLayer cloud. "We're extending a lifeline by upgrading the legacy servers to more modern Windows Server platforms while taking advantage of cloud computing," said James Strayer, vice president of product managem...
Sep. 4, 2015 02:12 PM EDT
All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades. With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo, November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Learn what is going on, contribute to the discussions, and e...
Sep. 4, 2015 02:00 PM EDT Reads: 231
As more intelligent IoT applications shift into gear, they’re merging into the ever-increasing traffic flow of the Internet. It won’t be long before we experience bottlenecks, as IoT traffic peaks during rush hours. Organizations that are unprepared will find themselves by the side of the road unable to cross back into the fast lane. As billions of new devices begin to communicate and exchange data – will your infrastructure be scalable enough to handle this new interconnected world?
Sep. 4, 2015 02:00 PM EDT Reads: 271
In today's digital world, change is the one constant. Disruptive innovations like cloud, mobility, social media, and the Internet of Things have reshaped the market and set new standards in customer expectations. To remain competitive, businesses must tap the potential of emerging technologies and markets through the rapid release of new products and services. However, the rigid and siloed structures of traditional IT platforms and processes are slowing them down – resulting in lengthy delivery ...
Sep. 4, 2015 01:45 PM EDT Reads: 651
The Internet of Things is in the early stages of mainstream deployment but it promises to unlock value and rapidly transform how organizations manage, operationalize, and monetize their assets. IoT is a complex structure of hardware, sensors, applications, analytics and devices that need to be able to communicate geographically and across all functions. Once the data is collected from numerous endpoints, the challenge then becomes converting it into actionable insight.
Sep. 4, 2015 12:30 PM EDT Reads: 121
SYS-CON Events announced today that Micron Technology, Inc., a global leader in advanced semiconductor systems, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Micron’s broad portfolio of high-performance memory technologies – including DRAM, NAND and NOR Flash – is the basis for solid state drives, modules, multichip packages and other system solutions. Backed by more than 35 years of tech...
Sep. 4, 2015 12:00 PM EDT Reads: 297
With the Apple Watch making its way onto wrists all over the world, it’s only a matter of time before it becomes a staple in the workplace. In fact, Forrester reported that 68 percent of technology and business decision-makers characterize wearables as a top priority for 2015. Recognizing their business value early on, FinancialForce.com was the first to bring ERP to wearables, helping streamline communication across front and back office functions. In his session at @ThingsExpo, Kevin Roberts...
Sep. 4, 2015 12:00 PM EDT Reads: 110