Reservoir Reports Exploration Progress at the Deli Jovan Project in Serbia
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/11/11 -- Reservoir Capital Corp. (TSX VENTURE: REO)(FRANKFURT: ROC)(BERLIN: ROC) ("Reservoir" or the "Company") is pleased to provide a progress report on a recent soil sampling program and an update on progress in the re-opening of access to historical Rusman and Gindusa underground workings at its Deli Jovan Gold Project in eastern Serbia with partner Orogen Gold Plc (AIM: ORE) ("Orogen").
Highlights
Soil sampling
Re-opening of access to historic Rusman and Gindusa mines
Comments on the results of the Soil Sampling
Reservoir and Orogen geologists have undertaken a program of detailed soil sampling totaling 2,600 samples on a 100 metre x 20 metre grid spacing, covering a five kilometre strike length of the Deli Jovan shear structure, between the old Rusman and Gindusa mine shafts. The aim of the program was to identify previously unknown or unworked gold-bearing veins in the sampled area.
The accompanying maps (to view click on: ) demonstrate a number of zones containing soil samples that have yielded anomalous gold values; as defined by values greater than 10 parts per billion (ppb) gold. The distribution of enhanced copper and arsenic in the soils is partly coincident with that of the anomalous gold values. Copper and low-level arsenic often accompany gold in the vein systems at Deli Jovan and can be useful pathfinder elements for confirming the presence of mineralized structures. The results include:
A follow up program of fieldwork is being planned to determine the possible relationship of the zones of gold-in-soil anomalism with the presence of auriferous quartz veins in bedrock and, if appropriate, subsequent diamond drill testing of confirmed targets.
Work at Deli Jovan is funded by Orogen, which can earn up to a 75% interest in the project by completing $3.5 million in exploration expenditures within 42 months.
Quality Control:
The Company and Orogen follow industry standard quality assurance and quality control procedures for all samples. The QA/QC program includes the insertion of blanks, duplicates and certified standards into the sample stream. Gold and multi-element analysis is undertaken by ALS Chemex at its laboratories in Romania and Vancouver.
Dr. Duncan Large, Chartered Engineer (UK) and Eur. Geol., a Qualified Person as defined by National Instrument 43-101 and consultant to the Company, is responsible for the preparation of the technical information in this release.
About Reservoir
Reservoir is a renewable energy company that is engaged in the development of a 58.4 MW hydroelectric project at Brodarevo in southwest Serbia. Reservoir holds four geothermal exploration licenses in Serbia and has applied for three hydroelectric licenses on the Cehotina River in Bosnia (17.75 MW) and one to develop a 32 MW project from an existing reservoir dam at Vrutci in Serbia. The Company also holds 8 precious and base metal exploration properties in Serbia that, subject to approvals, are to be spun-out into a separately listed company Reservoir Minerals Ltd. (see September 13, 2011 news release). Reservoir's common shares trade on the TSX Venture Exchange (symbol "REO") and on the Frankfurt and Berlin Exchanges (symbol "ROC").
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Reservoir Capital Corp.
Chris MacIntyre
VP Corporate Development
+1 416 703 0010
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 11.10.2011 - 05:00 Uhr
Sprache: Deutsch
News-ID 1044266
Anzahl Zeichen: 0
contact information:
Contact person:
Town:
VANCOUVER, BRITISH COLUMBIA
Phone:
Kategorie:
Investment Services & Trading
Anmerkungen:
Diese Pressemitteilung wurde bisher 87 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Reservoir Reports Exploration Progress at the Deli Jovan Project in Serbia
"
steht unter der journalistisch-redaktionellen Verantwortung von
Reservoir Capital Corp. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
