An emphasis on Resource Development – Caerus intends to build a Resource portfolio aimed at developing copper-gold projects that can ultimately sustain the cost of future exploration.

De-risking exploration – Caerus has acquired exploration licences the majority of which host former producing mines. The historic presence of mineralisation helps to de-risk projects by focusing on clearly prospective geology that has hosted copper-gold mineralisation in economic quantities.

Expanding the scope for new discoveries – There has been no meaningful systematic exploration undertaken on the Company’s licences for over 40 years. Exploration techniques have improved, the understanding of Volcanogenic Massive Sulphide deposits has been expanded and as a rule of thumb most orebodies are found in VMS camps during the second generation of exploration.

In order to generate value for all Stakeholders, Caerus will be targeting:

I – Low-cost and de-risked redevelopment of prematurely closed copper-gold mines hosting significant residual ore
  • RESIDUAL ORE – 2.84Mt of copper ore at grades of >1% Cu estimated by the Mines Department of Cyprus to be present in former mines within the Kalavasos VMS Camp.
  • UNDERPINNED BY GOLD – Operators historically ignored the presence of gold in mineralisation. At today’s gold price, a recoverable gold by-product increases the value of copper concentrates.
  • IMPROVED VIABILITY – Gold credits potentially also make previously sub-economic copper mineralisation viable.
Sulphide ore breccia – N. Mathiatis open pit
Kalavasos mine access
Mavridhia open pit - copper - gold stockwork mineralisation in the pit floor
II – Newly generated copper and gold targets derived from the application of modern exploration techniques with a systematic approach based on a clear understanding of the geology and target types;
Kalavasos licence - Typical alteration zone with gossan
Surface alteration and typical target for follow up
III – Reclamation of copper and gold from dumps and low-grade ore stockpiles;
Mala Mine – gold-bearing pyrite dump overlaying copper-gold tailings dump
Mala Mine –copper-gold tailings dump
Kalavasos area – Dumps generated by historic underground mining
N. Mathiatis copper-bearing waste dump and ore stockpile
N. Mathiatis dumps – view from the open pit