- Terra Balcanica Resources Corp. (TERA) has been granted an exploration licence for gold and copper in the historic Raska mining district of southern Serbia
- Terra is now the second-largest mineral exploration license holder in the highly prospective Raska district of southern Serbia
- Historical, exploratory adit intercepts and rocks chip samples indicate a high-grade epithermal vein gold-silver target located in the NW sector of Ceovishte
- Terra Balcanica Resources Corp. (TERA) opened trading at C$0.10 per share
Terra Balcanica Resources Corp. (TERA) has been granted an exploration licence for gold and copper in the historic Raska mining district of southern Serbia.
The licence was granted by the Serbian Ministry of Energy and Mines and covers 80.36 km2 of highly prospective land.
Terra is now the second largest mineral exploration license holder in the highly prospective Raska district of southern Serbia. The Raska district covers over 400 km2 and features many Pb and Zn deposits, Cu-Au porphyries, and satellite epithermal deposits hosted by Tertiary andesitic to dacitic volcanics and granodiorites, with a structurally controlled NNE-SSW fabric.
The historical Yugoslavian geological maps have been compiled, digitized, and reinterpreted to identify a clear target zone for epithermal gold mineralization in the northwestern part of the licence.
Historical, exploratory adit intercepts and rocks chip samples indicate a high-grade epithermal vein gold-silver target located in the NW sector of Ceovishte.
Historical highlights:
- 4 meters grading 19 g/t gold (Au) and 34 g/t silver (Ag)
- 5 meters grading 15 g/t gold (Au)
- 9 meters grading 0.95 g/t gold (Au) and 36 g/t silver (Ag)
- 13.8 meters grading 1.1 g/t gold (Au)
- 2 subsurface rock chip samples grading 396 g/t gold (Au), 68 g/t silver (Ag) and 15g/t, Au 130 g/tAg plus 1.2 per cent Cu
Terra Balcanica’s President and CEO, Dr. Aleksandar Miškovic, called the new licence area in Serbia “sizable”.
“Acquisition of such prospective ground is core to our strategy of building a regional, multi-jurisdictional portfolio in the Western Balkans. By bringing Ceovishte into our portfolio, we expanded our Serbian footprint by 160 per cent to 130 km2 in addition to 216 km2 held in Bosnia-Herzegovina at our high-grade, polymetallic Viogor-Zanik project. We are excited by the geological potential of Raska, where we have now gained exposure to both gold and copper with Ceovishte. The new licence is found in the vicinity of Adriatic’s Kiževak and Sastavci Pb-Zn mines, together with its Cu-focused exploration property at Suva Ruda-Rudnica and north of numerous historic lead-zinc-silver mines in the north of the Serbian province of Kosovo. Significantly, the most prospective area for high-grade gold located in the northwesterly quadrant of Ceovishte is concealed by a thin overburden and has not seen any historical drill testing. This provides us with a unique exploration upside to search beneath a shallow cover resulting in quick drill target definitions. Our field crew has been dispatched to the locality to conduct sampling for soil geochemistry, and we will provide updates on the fieldwork very shortly.”
Terra Balcanica Resources is a Canadian polymetallic resources explorer. Its operational focus is on the highly prolific Western Tethyan Metallogenic Belt. It is mainly engaged in exploring and developing the Viogor-Zanik Project located in eastern Bosnia and Herzegovina.
Terra Balcanica Resources Corp. (TERA) opened trading at C$0.10 per share.