Tisová Co-Cu-Au Project
Auroch has entered into an option agreement to acquire 100% of the historic Tisova Copper Mine and three surrounding exploration licence applications (subject to approval) in the Czech Republic, where the Company is currently carrying out its initial 5,500m 12-hole drilling program.
Whilst copper has been produced in this region since the sixteenth century, it is only through recent sampling carried out by Auroch that the economic significance of Cobalt, Gold and Silver has been identified at Tisová.
The presence of Cobalt is hugely significant for Auroch, as the Company’s key strategy is to focus on metals crucial to the renewable energy space.
Location, Location, Location
Auroch holds the unique advantage of being the first company targeting Cobalt in an area surrounded by major players in the Li-ion battery production space. Located in the heart of the European Industrial Region, Tisová is neighboured by industry leaders including BMW, Mercedes Benz, Volkswagen, Samsung and Porsche.
Mining at Tisová was first recorded in the 13 th Century and by the 16 th Century there were over 2,000 workers at three underground mines producing up to 5% Cu on Zelena Hora (Green Mountain) to the north of the village Kraslice, in what was then known as Saxony, a part of the Holy Roman Empire. The area produced copper, iron, tin and sulphur as depicted in the below painting of Tisová by Hans Hesse 1530.
Most recently the Tisová Mine operated under the communist regime from 1959-1973. Records indicate the underground produced 560,000 tonnes of copper ore @ 0.68% Cu (recovered). At this stage, a large portion of the underground mine development was completed, however due to the political system change in Eastern Europe, copper production was abandoned in 1973.
During the mining phase, only copper was focused upon and mined and no other metals were sampled for. Copper ore occurs as narrow horizons within a much thicker (over 100m) sulphide blanket. It is in this sulphide blanket that Auroch will further test for the presence of Cobalt, Gold, Copper and Silver, which were present in highly anomalous amounts in the Company’s initial sampling.
Existing Tisová Mine Infrastructure and Drilling
Key attributes of the underground development and drilling include:
- Helena Shaft from surface to 8 Level (340m vertical)
- Over 30 km of underground mine development in the footwall of the sulphide blanket
- 60m Incline from 8 level to 9 Level (400m vertical)
- 72 surface drill holes for 25,985m
- 142 UG drill holes for 14,299m
Whilst mining of the narrow Cu ore lenses concluded in 1973, exploration and underground development (access drives for underground drilling) continued for a further 10 years via continued underground development from 200m to 400m below surface, and the completion of 142 underground drillholes. Whilst historical literature of the operation detail the presence of cobalt in the sulphide mineral cobaltite, in addition to gold and silver, none of these metals were routinely assayed for.
Czech Republic Stats
- Government: Parliamentary Democracy (EU)
- Population: 10.5 million
- Capital: Prague
- GDP: US$342 Billion (2015)
- GDP Growth: 1.9% (2015)
- Income/Capita: US$30,500 (2015)
- Corporate Tax: 19%