Acquisition of Licence

RNS Number : 5321J

Tri-Star Resources PLC

01 July 2011

 



TRI-STAR RESOURCES PLC

("Tri-Star" or the "Company")

Acquisition of New Licence

Tri-Star Resources PLC (AIM: TSTR) is pleased to announce it has extended its prospecting area in close proximity to the Company's existing mine site in the Goynuk area of Kütahya, Turkey (the "Goynuk Mine"), by acquiring a further licence to the north and east of the Goynuk Mine ("Goynuk East"), covering 685.9 Ha. The new licence area covers rocks of the same geological sequence as the Goynuk Mine, as outlined below, and will provide both additional exploration potential and additional access to surface areas for mine development. The licence commits the Company to demonstrate exploration activity on Goynuk East licence area and apply for an exploitation licence by November 2013.

The wider region surrounding both licence areas comprises metamorphosed crustal ophilites, serpentinites and deep water sediments, continental sediments, marbles, limestones and sediments, overthrusting one another along with complex faulting.  Major faulting and the nearby Murat Dagi granite intrusion are believed to be the source of the Goynuk Mine mineralisation. 

The Goynuk East property hosts limestone basal contacts to the north, and exposed altered serpentinites to the east, with some cover of more recent marls. With favourable prospectivity, several major faults trending through the claims, having the Çukuröran mine 5 km to the east of the property and the Goynuk Mine to the West, the claims are considered a natural extension of the Company's ground holdings.

The additional licence increases the Company's prospecting area in the Goynuk area from 784 Ha to 1,469 Ha.

Enquiries:

Tri-Star Resources Plc                                         Michael Hirschfield	Tel: [phone]
Strand Hanson Limited (Nomad) James Harris / Paul Cocker / Liam Buswell	Tel: [phone]

 

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