VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 1, 2014) -Reservoir Minerals Inc.(TSX VENTURE:RMC)(OTC PINK: RVRLF)(BERLIN:9RE) ("Reservoir" or the "Company") is pleased to report the results from the reconnaissance fieldwork on the four 100%-owned exploration permits in Eastern Serbia. Results from the Studena permit include a systematic channel sample across a mineralized outcrop at Gradac that yielded 5 metres at 1.32% copper and 7.91 parts per million ("ppm") silver, a chip sample from outcrop at Bancarevo that yielded 4.63% copper and 104 ppm silver, and a selected sample from historical mine dumps at Bukovac that yielded 20.8% copper and 1,540 ppm silver.
Dr. Simon Ingram, President and CEO of Reservoir Minerals Inc. commented: "The latest results from the initial reconnaissance exploration program for sediment-hosted copper-silver mineralization are very encouraging. The results provide proof-of-concept of the Company's model based on similarities to the world-class copper-silver mineralization in the Permian age "Kupferschiefer" of central Europe. There is excellent potential for discovery within the Company's exploration permits that cover an area of approximately 278 square kilometres of prospective stratigraphy. The Company is planning a significant exploration program for 2015 that will include more detailed follow-up work, ground geophysics, and definition of drill targets."
Background
The Company, through its wholly-owned Serbian subsidiary, operates four exploration permits covering approximately 278 square kilometres including Permian age rocks prospective for sediment-hosted copper-silver mineralization, similar in style to the world class Kupferschiefer deposits in Poland. Details on the exploration permits are provided in Company News Release July 31, 2014. Maps showing the locations of these exploration permits are posted on the Company website (www.reservoirminerals.com).
During the summer field season, Company geologists undertook a comprehensive field reconnaissance program on all four permits including identifying and describing copper-silver mineral occurrences and historical workings reported in various documents and maps, compilation of relevant geological data, sampling rocks from mine dumps and workings, geological mapping and stream-sediment sampling in areas with prospective stratigraphy.
Results of Reconnaissance Field Program
Copper-silver mineralization hosted by Permian sandstones or the overlying carbonate units was found in all four permits. The relevant analytical data for samples collected from these mineralized localities are provided in Table 1. The historical workings (pits) date from the Middle Ages, exploration and trial mining (adits, shafts and trenches) in the early 20th century, and exploration (adits and trenches) in the 1950's and 1960's. Most of the samples were selected from mineralized rocks in dumps or float from historical workings, and locally yield very high grades for copper and silver. Outcrop is generally very poor but the channel sample (REG 104920, Table 1) from the Gradac prospect in the Studena Permit, as well as other samples from outcrop in other prospects (Table 1), provides validation for in situ mineralization. Field mapping demonstrates the association of the mineralization in most localities with bleached red-bed sandstones or the overlying organic-rich (fetid) limestones and, locally, with crosscutting structures. The stratigraphy of the copper-silver occurrences near Studena village suggests possible continuity along strike for at least 1.5 kilometres.
During 2015 further follow-up field work, including detailed mapping, geochemical sampling (soil and rock), and ground geophysics, will focus on defining targets for drill testing. Furthermore, a mining engineering team will assess the possibility of accessing some of the historical adits.
Skarn-type mineralization, possibly related to Upper Cretaceous andesites, was identified at the Mustafina padina prospect in the Sige-Panjevac permit. Float samples of gossan from historical dumps and pits yielded:
- SG 105493: 3.03 g/t gold, 8.72 g/t silver, 0.77% copper, 0.38% lead, 0.68% zinc
- SG 105495: 3.09 g/t gold, 0.79 g/t silver, 0.14% copper, 0.13% lead, 0.12% zinc
This location will be the subject of further mapping and sampling in 2015.
Quality Assurance and Control ("QAQC"):
All samples were collected by Company personnel, and then crushed to less than 2 millimetres at the Company's sample preparation facility in Belgrade in accordance with the Company's protocols that are compatible with accepted industry procedures and best practice standards. The crushed samples were submitted to ALS Minerals facilities in Bor, Serbia, for pulverising and analysis for gold by fire assay with AAS finish at the ALS Minerals laboratory in Rosia Montana, Romania, and by multi-element ICP-MS at the ALS Minerals laboratory in Loughrea, Ireland. Samples containing greater than 10,000 ppm copper or greater than 100 ppm silver were re-assayed according to ALS Minerals Ore Grade procedure (aqua regia digestion with an ICP-AES finish).
In addition to the laboratory's internal QAQC procedures, the Company conducted its own QAQC with the systematic inclusion of certified reference materials, blank samples and field duplicate samples. The analytical results from the Company's quality control samples have been evaluated, and demonstrated to conform to best practice standards.
Qualified Person:
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. The Projects discussed in this news release are available for partnership.
Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.