Assays released today. Yeah, I know, the scale of this deposit likely does not approach the size of Schaft Creek and the surrounding district, but Freeport McMoran has taken a stake in this deposit and, let's admit it, an increase in share price like this is what we've all been waiting for...

TORONTO (SHfn) – Reservoir Minerals (TSX: V.RMC, Stock Forum) shares jumped 47% to $3.18 on volume of more than 2.6 million shares Tuesday after the explorer reported diamond drilling results from its Timok Project in Serbia, which included 160 metres grading an average of 10.16% copper equivalent (6.92% copper and 5.40 grams per tonne gold). Freeport-McMoRan Exploration Corporation has given notice to Reservoir that it has exercised the Earn-In Option to acquire a 55% equity interest in the Timok Project.