- Exploration and resource development company Caerus Mineral Resources said results from the preliminary drilling programme on the recently acquired troulli project had exceeded expectations.

All holes intersecting significant gold and copper mineralisation, indicating a robust and potentially significant oxide gold and VMS copper-gold deposit located on the site of a the mine,the company said.

'The continuity of gold values in the oxide gold zone indicates pervasive mineralisation with potential for upscaling resulting in a revenue-generating gold resource overlying a VMS copper-gold zone open at depth and in all directions laterally,' it added.

'In addition, the Kokkinapetra licence, also part of the PRL Ploutonic acquisition and located 1.5 kilometres from Troulli hosts the same style of mineralisation and has returned rock chip and channel samples consistently above 1g/t Au.'

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