The Kalavasos Project Hub consists of 5 Kalavasos licences together with the Pano Lefkara and Layia Licences. The region has already shown high-grade mineralisation at or near-surface and a target for the Company’s hard-rock exploration programme.

Kalavasos

The Kalavasos licence consolidates 14 massive sulphide deposits within a recognised VMS camp located north of Larnaka. The Company has identified multiple target types within the current portfolio for evaluation including remnant Mineral Resources left following premature closure of some of the mines. These targets include high-grade sulphide ore, previously undiscovered high-grade sulphide mineralisation, mineralised dumps & low-grade stockpiles and bulk tonnage potential.

As with much of the historic copper mining across Cyprus, gold was largely ignored by previous miners with the exception of the high-grade “muds” located at surface. The implication is that lower grade copper mineralisation may now represent a viable resource based on the presence of a gold by-product.

Pano Lefkara

The Lefkara licence contains a large pre-Roman slag heap which is indicative of a mining history and evidence of high-grade mineralisation at or near-surface. Acquired in 2021 as part of the Cyprus Gold Mines acquisition, the Pano Lefkara Licence was explored by various parties from 1956.

The licence has seen significant activity over the past 60 years with several drill campaigns and geophysical surveys.

As across all licences within the Kalavasos Project Hub, gold-bearing gossans extend across the licence over a strike length of more than 300 metres. The zone is described as an upthrown tectonic slice of concealed sulphide mineralisation typical of the Cyprus-type VMS deposits.

Sulphide mineralisation is confined to the pillow lavas or the contact between the Upper and Lower Pillow Lavas and in the stratigraphic higher part immediately below the Upper Pillow Lavas. The massive sulphides are frequently underlain by stockwork-type sulphide mineralisation.

Pano Lefkara Historic Drill Results

Drillhole NoMineralised Intercept From (m)Mineralised Intercept To (m)Mineralised Width (m)Grade (% Cu)Grade (g/t Au)
Cyprus Geological Survey
MR 11 - 7151.860.979.171.41
Noranda Exploration Ltd
PLDD1/7744.860.3615.560.5
63.775.912.20.4
Katla Exploration Ltd
PLRD12-01038.138.10.10.54
38.145.727.623.134.1
PLRD12-0236.5864.0127.430.691.82
64.0176.212.190.230.62
PLRD12-0330.4835.054.570.13.21
PLDD13-0134.338.64.30.11.16
47.258.711.50.240.43
PLDD13-0237.443.56.10.10.88
50.4561.3510.90.30.83
63.265.552.350.190.86

Layia

The Layia Licence is largely unexplored and contains historic small-scale artisanal operations from the 1940’s evidenced by old tunnels and pits. The operations were presumably targeting surface gold mineralisation in gossans, which extends over an area of 70 metres by 60 metres and grades into iron-stained altered pillow lavas of the Lower Pillow Lava series.

Caerus’ key target will be to define the gold potential within the licence and test for extensions beyond the Licence boundaries.