Tuesday, April 9, 2013

Reservoir Minerals Inc. - RMC.v

Reservoir Minerals Inc. - RMC.v is advancing the flagship Timok Copper Gold Project in Siberia with earn-In partner Freeport-McMoRan.

The Timok Magmatic Complex in Serbia hosts the world class Majdanpek and Bor deposits which range from massive sulphide to porphyry.

On April 8, 2013, the company reported NEWS

"Reservoir Minerals Inc. 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. The Company holds a 45% interest in the Project in a joint venture with Freeport-McMoRan Exploration Corporation ("Freeport"). Drill hole FMTC 1223 yielded an interval of 291.3 metres with an average grade of 7.17% copper equivalent ("CuEq", average 5.13% copper and 3.40 grams per tonne ("g/t") gold) from 428.0 to 719.3 metres, which includes 47.1 metres with an average grade of 18.26% CuEq (average 13.89% copper and 7.27 g/t gold) from 457.6 to 504.7 metres. The copper equivalent (CuEq) is calculated from the formula (copper % + 0.6 x g/t of gold).

Dr. Simon Ingram, President and CEO of Reservoir Minerals Inc. commented: "This intercept which is 99 metres from the 160 metres at 10.16% CuEq intercepted in FMTC 1213, shows both the continuity of this unusually high-grade mineralization and confirms the unique nature of this discovery in a world where averaged mined copper grades are falling well below 1% CuEq."