Cortech CSD1300 diamond drill rig on site at Timok East preparing to drill hole BP001
(Source: Electrum Discovery)
  • Electrum Discovery (TSXV:ELY) has broken ground on its first diamond drill program at its 123-square-kilometre Timok East copper and gold project in Serbia
  • The project boasts data-driven targets and high-profile neighbors generating value through exploration and production
  • Electrum is a mineral exploration and development company active on two exploration projects spanning 645 square kilometers in Serbia’s prolific Western Tethyan Belt
  • Electrum Discovery stock has added 40 per cent year-over-year

Electrum Discovery (TSXV:ELY) has broken ground on its first diamond drill program at its 123-square-kilometre Timok East copper and gold project in Serbia.

The program is testing numerous prospective geological, geochemical and geophysical targets at the Bambino Central copper and gold anomaly, which resides less than 4 kilometers east of Zijin Mining’s tier-1 Bor mining complex and holds the potential for a large hydrothermal system at depth.

Bambino Central features 550 metres of strike and highly anomalous surface copper and gold geochemistry backed by trenching results, as well as underlying chargeability and resistivity anomalies at depth. The target makes up part of the 1.8-kilometre Bambino copper and gold anomaly, within which Electrum has identified four additional target areas with robust copper and gold anomalies backed by soil and rock-chip samples.

According to Wednesday’s news release, phase one of the program will consist of 1,000 m, followed by an equidistant phase two guided by what Electrum learns from initial drilling and planned geophysical surveys.

Timok East is adjacent to the Timok Magmatic complex, home to numerous operating copper and copper-gold mines, in addition to exploration projects owned by major miners like Zijin and Dundee Precious Metals.

Leadership insights

“We are thrilled to move into the next stage of exploration and to start our maiden drilling campaign at the Bambino Central zone of the Timok East project,” Elena Clarici, Electrum Discovery’s president and chief executive officer, said in a statement. “Initial soil and rock-chip sampling, trenching and ground geophysics have all pointed to a strong anomaly in the southern part of Timok East and drilling is the natural next step. Drilling Bambino is the first step in the broader exploration program and will provide further understanding of the largely untested 123-square-kilometer Timok East project.”

About Electrum Discovery 

Electrum is a mineral exploration and development company active on two exploration projects spanning 645 square kilometers in Serbia’s prolific Western Tethyan Belt. Besides Timok East, the company holds the 522-square kilometre Novo Tlamino project, a preliminary economic assessment-stage property with an inferred resource estimate of 670,000 ounces of gold equivalent.

Electrum Discovery stock (TSXV:ELY) last traded at C$0.14 per share. The stock has added 40 per cent year-over-year.

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The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.

(Top photo of a Cortech CSD1300 diamond drill rig on site at Timok East preparing to drill hole BP001: Electrum Discovery)


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