Last C$4.30 CAD
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As of 3:59 PM 11/27/14 All times are local (Market data is delayed by at least 15 minutes).

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reservoir minerals inc (RMC) Details

Reservoir Minerals Inc. engages in the identification, acquisition, and exploration of precious and base metal deposits primarily in Europe and Africa. The company has a portfolio of eight exploration licenses, including gold, silver, copper, lead, molybdenum, and zinc deposits in Serbia. The company was incorporated in 2011 and is headquartered in Vancouver, Canada.

Founded in 2011

reservoir minerals inc (RMC) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$201.7K
Chief Financial Officer
Total Annual Compensation: C$23.2K
Compensation as of Fiscal Year 2013.

reservoir minerals inc (RMC) Key Developments

Reservoir Minerals Completes Drilling Program at Bobija Zinc-Lead-Silver-Gold Project

Reservoir Minerals Inc. reported final results from the 622.9 metres drill program recently completed at its Bobija project in Serbia. Results include intercepts of 15.10 metres (from 2.0 to 17.1 metres down-hole, approximately 8.25 true thickness) through massive sulphide mineralization averaging 4.73% zinc, 4.23% lead, 122.14 grams per tonne (g/t) silver and 1.91 g/t gold in hole BB-07. The Bobija Exploration Permit is held by BEM d.o.o., an indirectly held wholly-owned Serbian subsidiary of the company. The permit covers an area of 46.59 square kilometres and the permit surrounds the Bobija barite deposit. This summer's drilling campaign of 8 short diamond drill holes (total 622.9 metres) was designed to validate the presence of sulphide mineralization recorded in the historical drill holes and workings, and test for extensions of mineralization from the zones identified in the historical data. Drill holes BB-02, BB-03, BB-04, BB-06 and BB-07 were validation holes and indicate that there is an correlation with the historic drilling data. The mineralized intersections are generally longer than expected, and the zinc and lead grades are comparable. Gold and, for the most part, silver analyses were not in the historical data and the high values for gold confirm the results obtained previously by the company's limited surface sampling. Drill holes BB-04, BB-06, BB-07, BB-09 and BB-10 intersected mineralization in the company's exploration permit, and confirm that the mineralization extends from the mining concession into the company's permit. BB-09 intersected the footwall mineralization beneath a weakly developed massive sulphide zone. The footwall mineralization was not recognised in the historical work, but can yield significant lead and zinc grades, although the silver and gold values are generally lower than in the massive sulphide zone. The intercept reported in Table 2 for drill hole BB-10 is from a fault zone containing fragments of barite and massive sulphide that are presumed to be from the stratiform massive sulphide mineralization zone intercepted in the other holes. This intercept implies continuity between two massive sulphide bodies interpreted from the historical data.

Reservoir Minerals Inc. Provides an Update on Exploration Activities in Cameroon

Reservoir Minerals Inc. announced that it has sampled high-grade gold mineralization in its trenching program on the Bibemi exploration licence in Cameroon. The Company has also acquired the Wapouzé exploration licence located close to Bibemi and covering similar Pan-African geology. Wapouzé Licence: The Wapouzé exploration licence for gold and related commodities was awarded to Reservoir Minerals Cameroon SARL on July 22, 2014, is valid for 3 years and can then be renewed a further two times, each for 2 years. The licence covers an area of 364 square kilometres and is located approximately 10 kilometres north of the company's Bibemi licence in northern Cameroon. The licence covers a Pan-African age metavolcano-sedimentary succession that is similar to the favourable geology in the Bibemi licence. Reconnaissance fieldwork by Company geologists identified anomalous gold values in stream sediment samples collected over the target geology, and confirmed the potential for further discovery of gold mineralization similar to that in Bibemi. Bibemi Licence - results of fieldwork: Previous fieldwork identified gold mineralization in quartz veins within a gold-in-soil geochemistry anomaly extending for 20 kilometres along strike. The best results from channel sampling of weathered bedrock included 10 metres containing 2.26 grams per tonne ("g/t") gold from Trench T07. During the 2014 dry season, 95 trenches were excavated to bedrock (for a total of 3,154 linear metres of trenching) and 568 channel samples collected from the quartz veins. Samples from the quartz veins were 50 to 60 kilograms, and those from the surrounding host rocks were 20 to 30 kilograms. The results from this sampling confirm the presence of high-grade gold mineralization (maximum 10.95 g/t gold over 3.6 metres from 2.6 to 6.2 metres in trench T37) in thin and strongly deformed quartz veins as well as in the host schists and diorite. In the three trenches with the better gold contents, the results are generally higher than those obtained in 2013 but the mineralized intervals are narrower. The channel samples were collected from the base of the trench, which is an irregular surface due to the varying hardness of the lithologies. Furthermore, the mineralized quartz veins have different orientations. Three strong mineralized zones, striking NE-SW for approximately 19 kilometres, are defined from the 2012 and 2013 soil geochemistry and trench results. Furthermore, reconnaissance geological mapping in the southern half of the licence confirms the extension of quartz veins to the south, through areas of artisanal gold panning that did not yield anomalous gold in the wide-spaced soil sampling program. Detailed geological mapping by Company geologists identified older granodiorites and diorites within the volcano-sedimentary schists and demonstrated that they are intruded by younger granites. The regional distribution of the gold mineralization suggests that it is related to the main shear or thrust zone (possibly 2 or 3 main parallel subsidiary faults) near the contact between the granodiorite and the volcano-sedimentary schists. Gold mineralization in the Bakassi area is spatially associated with the contact between a felsite and schists, and this contact is often exposed in the artisanal excavations. The gold mineralization may have occurred during the thrusting, and appears to be related to thin deformed quartz veinlets. The prominent quartz veins may be a younger magmatic-hydrothermal event that partially remobilised the gold as the work in 2014 demonstrated that these veins are only occasionally mineralized.

Reservoir Minerals Inc. - Special Call

To provide an update to exploration projects and answer any questions investors may have regarding the company's current business activities


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