The Kalavasos Project consolidates 8 former mines and 13 massive sulphide deposits within a recognized VMS district 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 mines.
- The Kalavasos Project comprises two contiguous exploration licences covering a combined area of 8.75km2.
- 13 massive sulphide bodies have been discovered and mined within the Licences between 1937 and 1977.
- Recorded production included 4.68 million tonnes at >1.0% Cu.
|Mine||Ore Mined (Mt)||Cu (%)||Residual Resource|
|Kalavasos||1.91||1.0 – 2.5||To be assessed|
|Mousoulos||1.66||1.0 – 2.5||0.94|
|Petra||0.226||1.5 – 2.5||0.30|
|Mavri Sykia||0.376||1.5 – 2.5||0.59|
|Platies||0.044||2.5 – 3.0||To be assessed|
Multiple Target Types
- A number of these mines are reported to contain remnant resources totalling 2.58Mt at a grade of 0.5 – 2.5% Cu, to be re-evaluated as a potential early source of future feedstock.
- 61,450 tonnes of iron oxide (gossan) was also mined to produce 16,400 oz gold at an average grade of 8.3g/t Au and 34,746 oz silver at 17.6g/t Ag.
- Remnant mineralization left after premature closure of operating mines around 1974 following partition of the Island due to the dispute between Greece and Turkey.
- The opportunity exists to test for bulk tonnage copper-gold mineralisation located beneath mined out high-grade massive sulphide ore.
- Potential new discoveries could be possible based on the application of modern exploration techniques that have improved significantly in the past 40 years since the last exploration was conducted.
- Dump reprocessing – low-grade sulphide and oxide mineralisation was not exploited by previous operators who had access to high-grade sulphide ore. The advent of new and improved metallurgical processing technologies, strong metal prices and more efficient mining methods make these low-grade resources a potentially attractive proposition.