Kokkinoyia mineral deposits three times higher than original estimate

Venus Minerals has announced that it has revised its mineral resource estimate at Kokkinoyia by 240 per cent

The Kokkinoyia sector is part of the Magellan Project, 100 per cent owned by Venus Minerals – a company focused on the exploration and development of copper and gold assets in Cyprus.

The total indicated and inferred resource at Kokkinoyia has been revised to 12.3 million tonnes at a grade of 0.31-2.25 per cent copper and 0.27-0.57 grams/tonne gold across multiple zones of mineralisation at Kokkinoyia.

Gold mineralisation occurs across several distinct zones, along with zinc and silver in places.

In addition, the company found a new exploration target for gold, potentially holding 3-4 million tonnes at a grade of 0.3-to 0.4 grams/tonne, for an additional production of 30,000 to 70,000 ounces.

Peter van der Borgh, managing director of Venus Minerals, said the revised estimate further enhances their confidence in the minerals prospect.