Mundoro Capital Inc. (TSX VENTURE:MUN) announces the commencement of the drill program at its 100% owned Borsko Jezero copper-gold property, located in Bor, Serbia. Borsko Jezero is situated within the Timok Magmatic Complex and is directly west of the Bor Cu-Au Mine and northwest of the Reservoir/Freeport McMoRan Timok Project JV (Timok JV) which recently reported high grade copper and gold drill assay results.
Teo Dechev, CEO and President of Mundoro commented, “Exploration work at Borsko Jezero has progressed very quickly since Mundoro was awarded the license less than one year ago. Drilling is scheduled to begin by the end of June. Based upon overall exploration results to date, the Company has prepared an initial drill program for 4,000 meters which is sufficient to test three main target areas. The first target area is located at the southwest corner of the property and is within the same structural lineaments as the Timok JV, as interpreted by regional magnetic geophysical data. The second target is 2 kilometers directly west of the currently producing Bor Mine, while the third target is located near the northeastern boundary of the license along strike of RTB Bor’s new Au-Cu discovery.”
Since acquiring the property in July 2012, the Company has compiled and re-interpreted historical data which initially identified the anomalous areas. In April 2013, the Company completed the NI 43-101 report “A Technical Review of the Borsko Jezero Copper-Gold Property, Bor, Serbia, For Mundoro Capital Inc.”, and the Audio-Frequency Magneto-Telluric geophysical survey. In May 2013, the Induced Polarization (IP) chargeability survey was completed. As a result, Mundoro identified three anomalous areas one of which is on the magnetic geophysical corridor at the southern portion of the Borsko Jezero license area.
Mundoro contracted a drill operator who will mobilize this month to start drilling by the end of June. The drill operator has experience drilling in the region and is also capable of performing directional drilling if required.
Another development for Mundoro in the region which is part of the Company’s ongoing effort to build a regional presence in Southeastern Europe occurred in June 2013, when Mundoro through a local 100% owned subsidiary, acquired less than 5% equity interest in a gold producing Company in Bulgaria that operates adjacent to the Company’s Zvezda license.
About Mundoro Capital Inc.
Mundoro is a well-funded, Canadian based company focused on mineral acquisition, exploration, and development. Our primary focus is advancing our properties on the Tethyan Belt in Southeastern Europe. Mundoro has methodically acquired a district-scale land position on this prolific mineral belt which hosts significant Gold-Copper porphyry and related epithermal deposits. Our strong project pipeline, which also includes projects in Mexico and an investment in China project, is positioned to drive long-term, sustainable growth in order to attain production related cash flow and shareholder return.
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We acknowledge the [financial] support of the Government of Canada.