Mundoro Capital Inc. (TSX-V:MUN) is pleased to announce the Company is mobilizing for the Phase II drill program at the Borsko Jezero license where drilling is expected to commence in August. Borsko is one of the four licenses being sole funded by JOGMEC as part of the Amended Earn-in Agreement announced August 2016. Borsko is located in the central portion of the Timok Magmatic Complex and is directly west of the Serbian state-operated producing mines, RTB Group’s Bor copper porphyry mine and the Veliki Krivelj copper-gold porphyry mine.
Teo Dechev, CEO & President of Mundoro commented, “With our partner JOGMEC, we are looking forward to the Phase II step-out drill program to test Target 1 with 200 m step-out holes to the north, south, west and east. Mundoro will have an active H2-2017 field season comprising of the two JOGMEC funded drill programs: (i) Borsko Phase II step-out drill program in order to test for the epithermal high-sulphidation copper-gold mineralization, and (ii) Zeleznik Phase III fence drill program in order to further delineate the mineralized zones. As of Q1-2017, Mundoro had approximately $4.2 mln in cash and is debt free.”
Summary of Borsko Drill Program
Core logging and assay results from BJ-06 and BJ-07 highlighted important findings:
Interpretation of the geology and alteration encountered in the Borsko Phase I drilling program highlights the uppermost part of the lithocap, immediately below the less-altered volcanic sequence, as the prime target for epithermal high-sulphidation copper-gold orebodies of the Bor and Čukaru Peki type. In order to further test the Borsko Target 1 for its copper-gold potential, the Company has designed the Phase II step-out drilling program to attain vectoring information towards a epithermal high-sulphidation system. The goal is to use geochemical and alteration information obtained in the four Phase II drill holes (drilled in four quadrants) to vector towards a epithermal high-sulphidation centre, if it is not directly intersected by Phase II drilling.
The Company expects to complete the drilling in Q4-2017 and to release the results around year-end.
About Mundoro Capital Inc.
Mundoro is a Canadian mineral exploration and development public company focused on building value for its shareholders through directly investing in mineral projects that have the ability to generate future returns for shareholders. The Company currently holds a diverse portfolio of projects in two European countries as well as an investment in a producing gold mine in Bulgaria and a feasibility stage gold project in China. The Company holds eight 100% owned projects in Serbia, the four Timok North Projects are in option to JOGMEC, and the four Timok South Projects are being advanced by Mundoro.
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