EMED close to resume copper mining in Cyprus

EMED Mining Public Limited, listed on the London Stock Exchange AIM market since May 2005, said in its quarterly review that while the copper and zinc project in the Klirou area is worthy of further work, development should not be considered unless resources are expanded through successful exploration.

Rising metal prices have materially improved the economics of certain known mineralisation systems in Cyprus prompting EMED Mining to re-evaluate its prospects.

The Klirou resource extends from the surface to approximately 200 metres below surface and is potentially mineable by open-pit methods. Potential remains to increase these resources by infill drilling and step-out drilling, the company report said.

EMED Mining has reached agreement in principle to utilise the nearby Mitsero processing plant owned by its 5% partner Hellenic Mining Company to treat ore and produce saleable concentrates.

During the quarter, AMC Consultants (UK) Limited completed their independent review of the Klirou Copper-Zinc Project internal study that suggests that “the project is worthy of further work and potential development utilising the Mitsero processing plant.”

EMED Mining’s new drilling operation is beginning to perform well, achieving metreage and core recovery not previously recorded in the difficult ground conditions  in Cyprus. The company’s drilling team will move to Slovakia in the first half of 2008 to increase the company’s commitment there, while the Cyprus drilling results are reviewed.

Following the potential re-start of the company’s PRT copper project in Spain in the Q4 2008, EMED Mining will consider focusing more effort on the project in Cyprus with a view to justifying a full feasibility study on the Klirou Copper-Zinc Project.