UK-based mineral exploration and development company Ariana Resources has the granted Western Tethyan Resources (WTR), three exploration licences in Kosovo.
WTR is a mineral exploration and development company, which is 75% owned by Ariana.
Kosovo’s Independent Commission for Mines and Minerals (ICMM) has granted the three contiguous exploration licences, covering a total of 239km2.
The contiguous exploration licences, including Cecelia, Popovo and Lluzhan projects, are located close to the Stanterg Pb-Zn mine.
The projects are positioned along a significant NW-SE trending structural contact, which juxtaposes metasedimentary rocks against Oligocene to Miocene-aged magmatic rocks of the Trepca Mineral Belt.
Western Tethyan Resources managing director Mentor Demi said: “We are delighted to share the news on the issuance of three exploration licences in Kosovo.
“The three licenses combined lie on the highly prospective northwest-southeast trending Trepca Belt, host of world class projects, such as Stanterg Mine. We look forward to exploring and developing another potential world class project from within our licenses.”
WTR is currently completing a comprehensive pXRF soil-sampling programme across all licences on a 250x500m grid.
The company has three other licence applications in Kosovo, pending final approval by the ICMM.
The historical and the initial reconnaissance work on the projects conducted by WTR demonstrated several significant results throughout the licences.
The stream-sediment sampling at the licence area showed up to 10g/t gold and the boulder sampling up to 19.55g/t gold and 684g/t Ag.
The initial licences show evidence of gold, silver and base-metal mineralisation and are located close the Stanterg Mine, which contains 31Mt @ 76g/t Ag, 7% Pb and Zn resource.
Ariana Resources managing director Kerim Sener said: “This is an excellent result for Western Tethyan, just as it commences a very active period of exploration in Kosovo and in the wider region, particularly after having entered into a strategic relationship with Newmont Corporation just last month.
“Securing the first three of six licence applications in Kosovo at the start of the field season could not have come at a better time.
“The Western Tethyan team are now initiating further exploration work on this granted tenure, to better define the nature of the mineral systems and to identify locations for initial drill-testing.”
