- Mundoro Capital (MUN) has signed an option agreement with Kinross Gold Corporation
- The agreement sets out the commercial terms for Kinross to earn in 100 per cent of Mundoro’s 100-per-cent-owned GT7 Property in Serbia
- Kinross can earn in a 100-per-cent interest in the GT7 Property by completing US$6,000,000 of exploration expenditures over 5 years with a firm commitment of $1,500,000 exploration expenditures in the first 18 months
- Mundoro is a publicly listed company with a portfolio of mineral properties focused on primarily base metals
- Mundoro Capital Inc. was up 3.448 per cent, trading at C$0.15 as at 9:33 AM ET
Mundoro Capital (MUN) has signed an option agreement with Kinross Gold Corporation.
The agreement sets out the terms for Kinross to earn in 100 per cent of Mundoro’s 100-per-cent-owned exploration property identified as GT7 Property in Serbia.
“Our exploration team is excited to be collaborating on the GT7 Property exploration programs with Kinross in order to demonstrate the potential of these types of systems in the tertiary portion of the belt, which is a region in Serbia that remains under-explored and not well understood compared to the Timok region,” said Teo Dechev, CEO of Mundoro.
The GT7 Property occupies 97 sq.km and is in the northern portion of the Serbo-Macedonian Metallogenic Province, which is part of the Tethyan Orogenic Belt.
The area is considered highly prospective for gold-copper porphyry and related epithermal precious metals mineralization.
The GT7 Property contains exposures of diorite porphyry gold-copper type quartz vein stockwork mineralization and is likely related to precious and base metals veins hosted within surrounding sedimentary country rocks.
The field work completed to date identified two areas of anomalous copper-gold-molybdenum in soil geochemistry North Zone and South Zone, respectively.
Kinross has commenced funding of an approved work program and budget for 2022 with completed collection of 806 soil samples, extensive alteration mapping and rock sampling from observed mineralized exposures.
Kinross can earn in a 100-per-cent interest in the GT7 Property by completing US$6,000,000 of exploration expenditures over 5 years with a firm commitment of $1,500,000 exploration expenditures in the first 18 months.
Mundoro is a publicly listed company with a portfolio of mineral properties focused on primarily base metals.
Mundoro Capital Inc. was up 3.448 per cent, trading at C$0.15 as at 9:33 AM ET.