Press release from Marketwire
Reservoir Commences Exploration Program on 100% owned Timok Permits
Tuesday, October 01, 2013
Reservoir Commences Exploration Program on 100% owned Timok Permits16:13 EDT Tuesday, October 01, 2013
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 1, 2013) - Reservoir Minerals Inc. (TSX VENTURE:RMC)(PINKSHEETS:RVRLF)(BERLIN:9RE) ("Reservoir" or the "Company"), is pleased announce that contractors have been selected to undertake an approximately 56 line-kilometre CSAMT (controlled source audio magneto telluric) geophysical exploration survey on the Company's 100% owned Nikolicevo and Kraljevica exploration permits within the prospective Timok Belt of eastern Serbia. Concurrently the Company is undertaking its own geochemical and magnetometry geophysical surveys over these permits. The Nikolicevo and Kraljevica explorations permit are immediately east and south of the Brestovac-Metovnica exploration permit, where significant copper-gold mineralization has been discovered at the Cukaru Peki Project by the Company with joint venture partner Freeport McMoRan Exploration Corporation.
Dr. Simon Ingram, President and CEO of Reservoir Minerals Inc. commented: "Given that the volcanic centres that host the Bor and Cukaru Peki mineralization typically occur in belts, we believe that there is potential for additional discoveries of this type of mineralization along trend within our 100%-owned permits."
Nikolicevo and Kraljevica Exploration Permits:
The Nikolicevo and Kraljevica Exploration Permits cover an area totalling 188.16 square kilometers in the highly prospective Timok Magmatic Complex, eastern Serbia, which includes the world-class Bor-Majdanpek mining and smelting complex with reported historical production of 6 million tonnes of copper and 300 tonnes of gold (9.65 million ounces gold) (BRGM publication BRGM/RC-51448-FR, 2002). The western limit of the Nikolicevo exploration permit is approximately 4.5 kilometres east of the Cukaru Peki discovery, (Latest company Timok News Release, September 9, 2013, Timok Project). A map showing the location of the exploration permits is provided on the Company website (Timok permit map).
The geology in both permits includes late Cretaceous andesites and volcaniclastics, which host the copper-gold mineralization in the Bor district and the Cukaru Peki discovery in the Brestovac-Metovnica exploration permit, and overlying Miocene sediments. Company geologists have identified structures that trend south from the Bor district through these permits.
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, approved the technical disclosure in this release and has verified the data disclosed.
About the Company:
Reservoir Minerals Inc. is an international mineral exploration and development company run by an 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.
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Such forward-looking statements or information, including but not limited to those with respect to exploration results, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of Reservoir Minerals Inc. to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such factors include, among others, the actual prices of commodities, the factual results of current exploration, development and mining activities, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in documents filed from time to time with the securities regulators in the applicable Provinces of British Columbia and Alberta.
Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Reservoir Minerals Inc.
VP Corporate Development