The Prospector News

Terra Balcanica Drills 1168 g/t AgEq Over 1.35 m At Cumavici Ridge And Confirms New Mineralization Over 600 m Northwest

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Terra Balcanica Drills 1168 g/t AgEq Over 1.35 m At Cumavici Ridge And Confirms New Mineralization Over 600 m Northwest

 

 

 

 

 

Terra Balcanica Resources Corp. (CSE:TERA) (FRA:UB1) is pleased to announce initial assay results from the Phase II drill campaign confirming continuation of the high-grade Cumavici Ridge epithermal vein within its principal Viogor-Zanik project in Bosnia and Herzegovina.

 

Highlights

  • Drillhole CMV23004 intersected 1,168 g/t AgEq (including 452 g/t Ag, 3.49 g/t Au, and 3.36% Zn) over 1.35 m from 36.2 m downhole (Table 1);
  • Successful results from CMV23004 add approximately 50 m strike length SE of previously reported CMVDD002 which returned 816.1 g/t AgEq over 2 m (see company news release dated 22nd October 2022) with mineralization remaining open and untested down-dip (Figures 1 and 2);
  • A discovery was made by 600 m step outs to the northwest of Cumavici Ridge where CMV23007 and CMV23009 returned 531 g/t AgEq over 0.75 m and 355 g/t AgEq over 1.10 m, respectively with more 2023 Cumavici Ridge assay intervals to follow shortly.

 

Terra Balcanica CEO, Dr. Aleksandar Mišković, comments: “It is very exciting to continue proving up high grade silver-dominated mineralization this close to surface. The CMV23004 drillhole now confirms over 100 m of continuous high-grade mineralization at the centre of the Cumavici Ridge target. Moreover, the newly detected mineralized structure over half a kilometer to northwest speaks to the lateral extent of this prospect and provides plenty of opportunity for infill drilling to delineate its full scale, width, and grade. Our subsurface 3D geological model has been proven and is continuously refined with each successive drill hole. We are thrilled to highlight the remaining drill results from Cumavici Ridge upon completion of internal QA/QC protocol.”

 

Hole ID From (m) To (m) Length (m) Ag (g/t) Au
(g/t)
Pb
(%)
Sb
(%)
Zn
(%)
AgEq* (g/t)
CMV23004 36.20 37.55 1.35 452 3.49 2.14 1.98 3.36 1168
CMV23007 39.05 39.80 0.75 31 0.17 0.15 2.95 0.72 531
CMV23009 39.40 40.50 1.10 88 0.26 0.19 1.17 2.03 355

 

Table 1. Assay results of key mineralized intervals from the preliminary 2023 Phase II Cumavici drillholes. Interval lengths reported are drilled lengths, not true widths. Silver equivalents (“AgEq”) are based on assumed metal prices of US$1,950/oz for gold (Au), US$22.60/oz for silver (Ag), US$1.10/lb for zinc (Zn), US$5.44/lb for antimony (Sb) and US$1.00/lb for lead (Pb). *Assumed metal recoveries of 90% Au, 93% Ag, 95% Sb, 94% Pb and Zn are based on published metallurgical tests on analogous intermediate sulphidation epithermal vein deposits.

 

 Figure 1. Geological map illustrating the drillholes CMV23004, 007 and 009 highlighting the 42 m SE step out achieved by CMV23004 and the > 600 m NW extension to mineralization at the Cumavici Ridge locality.

 

Hole ID Easting Northing Elevation (m) Dip Azimuth Depth (m) Recovery (%)
CMV23004 360206.6 4888465.3 593.5 -50 050 58.1 100.00
CMV23007 359868.2 4888877.0 637.3 -63 046 59.7 99.35
CMV23009 359828.2 4888939.2 640.1 -58 041 73.8 100.00

Table 2. Collar locations for reported Phase II drillholes. Coordinates and elevation were taken by local consultant surveyors using a differential GPS unit. (WGS84/UTM Zone 34N).

 

Ongoing Exploration Program

Exploration efforts at the Viogor-Zanik Project are ongoing with results pending from 5 2023 diamond drillholes at the Brezani skarn system where 2022 results reported 88 m at 0.61 g/t AuEq from surface last year (see company news release dated 24th January 2023). Drilling was focussed on stepping out within the 800 m strike length Au-bearing calc-silicate trend on surface.

 

Figure 2. Drillhole section through step out drill fence located 42 m SE of the 2022 discovery holes at Cumavici Ridge. Assay interval reported for CMV23004 

 

QAQC

Half core (PQ3 and HQ3) samples were delivered by truck to ALS Bor, Serbia for sample preparation and analysis at the ALS laboratory Loughrea, Ireland an ISO/IEC 17025:2017 certified testing laboratory. Sample preparation PREP-31BY method was used on all core samples. This involves crushing to 70% less than 2 mm, rotary split 1kg and pulverizing the split to greater than 85% passing 75 microns. Gold was assayed by 30g fire assay with ICP-AES finish (Au-ICP21). Analyses of silver and base metals were completed by highly oxidising digestion with HNO3, KClO3 and HBr (ASY-ORE) and the final solution in dilute aqua regia is determined by ICP-AES (ME-ICPORE). Control samples, comprising certified reference materials (CDN-ME-1811), quarter core field duplicates and blanks were inserted at a rate of 9% and investigated as part of the company’s quality assurance and quality control program.

 

Qualified Person

Dr. Aleksandar Mišković, P.Geo, is the Company’s designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure of Mineral Projects and has reviewed and validated that the information contained in this news release as accurate.

About the Company

Terra Balcanica is a polymetallic exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina, 100% of the Kaludra and Ceovishte mineral exploration licences in southern Serbia. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management.

 

Posted November 7, 2023

Share this news article

MORE or "UNCATEGORIZED"


OUTBACK ANNOUNCES ACQUISITION OF FINNISH GOLD PROJECT PORTFOLIO FROM S2 RESOURCES AND CONCURRENT $5 MILLION FINANCING

Outback Goldfields Corp. (TSX-V: OZ) (OTCQB: OZBKF) is pleased to... READ MORE

March 2, 2024

Denison Reports Impressive Financial and Operational Results for 2023 Including Significant Increase in Phoenix ISR Project Economics and a $134 Million Gain on Physical Uranium Holdings

Denison Mines Corp. (TSX: DML) (NYSE American: DNN) filed its Au... READ MORE

March 2, 2024

FIRST QUANTUM ANNOUNCES CLOSING OF $1,150 MILLION BOUGHT DEAL OFFERING, CLOSING OF $1,600 MILLION SENIOR SECURED SECOND LIEN NOTES OFFERING AND UPDATE ON COMPREHENSIVE REFINANCING

First Quantum Minerals Ltd. (TSX: FM) announced that it has compl... READ MORE

February 29, 2024

VIZSLA SILVER ANNOUNCES CLOSING OF $34.5 MILLION BOUGHT DEAL FINANCING

Vizsla Silver Corp. (TSX-V: VZLA) (NYSE: VZLA) (Frankfurt: 0G3)... READ MORE

February 29, 2024

New Found Makes New Discovery With 35 g/t Au Over 17m Including 1,910 g/t Au Over 0.3m at “Vegas Zone”

New Found Gold Corp.  (TSX-V: NFG, NYSE-A: NFGC) is pleased to a... READ MORE

February 29, 2024

Copyright 2024 The Prospector News