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Teniz Resources Ltd. (“Teniz Resources” or the “Company”) is pleased to announce that it has entered into an option agreement (the “Option Agreement”) with CAML XD Limited (“CAML XD”), a wholly owned subsidiary of Central Asia Metals plc (“CAML”), in respect of Exploration Licence No. 3308-EL, which forms part of the broader Teniz exploration project in North-Central Kazakhstan.
Under the Option Agreement, CAML XD has been granted an exclusive option to acquire the asset associated with Exploration Licence No. 3308-EL, subject to the terms and conditions of the agreement.
As part of the agreed arrangements, CAML XD will fund and undertake an agreed exploration programme, including drilling, designed to further evaluate the geological potential of the licence area.
The partnership with CAML represents an important milestone in the advancement of the Teniz Project and provides an opportunity to progress exploration across one of its prospective areas with the involvement of an international mining company with a long-standing operating presence in Kazakhstan.
Teniz Resources believes that CAML’s experience and technical expertise will contribute to the effective execution of the exploration programme on Exploration Licence No. 3308-EL and support the continued advancement of the project.
Teniz is a large-scale copper exploration project located within the Teniz Sedimentary Basin in North-Central Kazakhstan, targeting the discovery of significant sediment-hosted copper deposits. The project comprises nine exploration licences covering approximately 1,920 km² and encompasses a substantial prospective land position within the basin, including areas identified as prospective through regional USGS assessment.
The geological concept for Teniz is based on the presence of key components of a mineral system associated with sediment-hosted copper deposits. Similarities between certain elements of the geological architecture of the Teniz and Chu-Sarysu basins, the latter hosting the Zhezkazgan copper district, form an important part of the exploration model for the project.
Historical information and results from recent exploration work indicate the presence of copper mineralisation and extensive exploration indicators across the project area. Integrated interpretation of the available data has identified at least five priority target areas associated with key permeable horizons, major structural zones and known occurrences of copper mineralisation.
Teniz Resources Ltd. is a Kazakhstan-based mineral exploration company established to advance and develop the Teniz Project. The Company combines international mining and exploration experience with an in-depth understanding of Kazakhstan’s geology and operating environment.
Central Asia Metals plc (“CAML”) is a base metals producer quoted on the AIM market of the London Stock Exchange, with a copper operation in Kazakhstan and a zinc and lead mine in North Macedonia.
CAML owns 100% of the Kounrad copper operation in central Kazakhstan and 100% of the Sasa zinc and lead mine in North Macedonia.
CAML is also active in base metals exploration in Kazakhstan. CAML XD is a wholly owned CAML subsidiary focused on early-stage exploration for high-grade base metals in Kazakhstan.
For further information
Teniz Resources Ltd.
Astana, Republic of Kazakhstan