Tethyan Resources plc (TSXV: TETH) (“Tethyan” or the “Company”) is pleased to announce that it has entered into a definitive share purchase agreement (the “Agreement”) with Balkan Minerals Limited (“Balkan”) and Dr. Radomir Vukcevic (“Dr. Vukcevic”) to acquire all of the issued and outstanding shares of Balkan’s wholly-owned Serbian subsidiary Taor D.O.O. (the “Transaction”) on the terms previously disclosed in the Company’s news release dated February 14, 2018.
As quoted in the press release:
“The acquisition of Taor will add significantly to Tethyan’s potential to make a major mineral discovery. Through the consolidation of such a large land position in the Trepca Mining District, which was the largest mining complex in all of Yugoslavia during the 1970s, Tethyan now has multiple exploration targets and opportunities for success. We have already begun to demonstrate extensive copper-gold porphyry mineralisation at Rudnica which remains open in all directions. Now, with respect to zinc, Tethyan will hold rights over an entire district which includes three historical resources and multiple exploration targets which we believe to have significant exploration upside. All of this is situated in an area of excellent existing infrastructure and a long history of mining. In addition, we look forward to welcoming Dr. Vukcevic to the team. His experience in minerals processing and metallurgy will complement our exploration team well and allow us to rapidly progress these assets with excellent technical oversight,” Fabian Baker, President and CEO of Tethyan, said.