A rich gold deposit was found in eastern Serbia

Published on 21. January 2023., News

At the location of Čoka Rakita in the municipality of Žagubica, about three kilometers southeast of the Timok Gold Project, a rich gold deposit was found, the preliminary dimensions of which are 500x250x80 meters, the Ministry of Mining and Energy announced.

As stated, the preliminary results of technological tests show that it is possible to produce a pure gold concentrate, with a total utilization of gold greater than 93 percent.

The Minister of Mining and Energy, Dubravka Đedović, said on that occasion that the potential reserves are significant in terms of the amount of ore and gold content, which in the future can be of great importance for the economy of the entire country, especially for the region of Eastern Serbia.

“What should be noted is that the project is in the research phase, that it is necessary to confirm these good results through new research, and after that prepare a study that will verify the resources and reserves,” said Đedović.

The results of research carried out in the previous period are encouraging in terms of results with high gold content, as well as the possibility of obtaining it through the flotation process and later the metallurgical process.

According to Đedović, this potential deposit gives additional value to the deposits that have already been detected at the Timok project near Žagubica, which is being implemented by the Canadian company Dundee Precious Metals INC, which announced the news about the new gold deposit.

“This discovery is also significant from the perspective of a potential significant increase in gold ore resources and reserves in Serbia,” the minister stated and pointed out that the mentioned results represent a significant step forward in the knowledge of the geology of the deposits, but they do not yet mean the opening of a mine.

During this process, she points out, the reliability of information about the deposit and all other factors gradually increases, which is in favor of Serbia and its prosperity.

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