Reservoir Minerals Inc. (TSXV:RMC,OTC Pink:RVRLF) announced it has commenced the first phase of exploration drillling at its wholly owned Nikolicevo Permit. The area is located in the Timok Magmatic Complex in eastern Serbia.
As quoted in the press release:
Targets have been defined by a combination of coincident geological, structural, geochemical and geophysical (magnetic and induced polarisation) vectors and anomalies, located in an area approximately 5 to 10 kilometres east of the Company’s Cukaru Peki copper-gold discovery with Freeport.
Reservoir Minerals president and CEO, Dr. Simon Ingram, said:
The drilling in the Nikolicevo area is an important step in the exploration of Reservoir’s 100%-owned Timok permits. We believe that the Timok Magmatic Complex is a district scale exploration opportunity and the Company has budgeted up to $5 million to explore copper-gold targets in our four 100% owned Timok permits. The Nikolicevo permit is close to the Cukaru Peki discovery and the Bor mining district, but has no history of mineral exploration. The targets defined by our ground exploration appear very promising and we look forward to providing updates during the drilling campaign.