- Mundoro Capital (MUN) is expanding its exploration program at its joint venture in Serbia
- The JV program includes the Phase 1 drill program at the Skorusa copper-gold porphyry system and geophysical program at the Oblez license
- Both programs are located in the southern portion of the Timok Magmatic Complex
- Curently, 1,800 metres have been drilled over magnetic anomalies at Skorusa in three exploratory drill holes
- Mundoro Capital is unchanged on the day, with shares of the company trading at C$0.21 at 2:39 pm ET
Mundoro Capital (MUN) is expanding its exploration program at its joint venture in Serbia.
The Vale-Mundoro JV program includes the Phase 1 drill program at the Skorusa copper-gold porphyry system and geophysical program at the Oblez license.
Both programs are located in the southern portion of the Timok Magmatic Complex west-southwest of the Cukaru Peki Deposit and the Bor mining complex.
Mundoro is highlighting several recent achievements at the sites.
Diamond drilling remains ongoing at the Skorusa copper-gold porphyry system, along with an Audio-frequency Magneto-telluric (AMT) geophysics program at the Tilva Mare prospect.
Curently, 1,800 metres have been drilled over magnetic anomalies at Skorusa in three exploratory drill holes with an average depth of 600 metres.
The ongoing AMT geophysical survey at the Tilva Mare prospect will identify drill targets under the cover units. The prospect area is outlined by copper-in-soil geochemistry covering approximately five kilometres by five kilometres in the northern portion of the Oblez license.
The company’s technical committee has expanded the drill program for an additional 1,600 metres to test three additional targets within Skorusa at the West and East mineralized zones.
“The geophysical targets drill tested in the first three exploratory holes have provided valuable information to calibrate the understanding of the geophysical responses observed to the actual lithological units and mineralogy encountered.
It is clear from the initial three drill holes that the targets drilled are in the periphery and distal to a porphyry system.
The Technical Committee is expanding the target testing to additional targets focusing on depth extension at the West Zone and depth extension at a geochemical anomaly at the East Zone and a new geophysical ground magnetic anomaly south of the East Zone,” said Mundoro President and CEO Teo Dechev.
Mundoro Capital is unchanged on the day, with shares of the company trading at C$0.21 at 2:39 pm ET.
