Australian company Middle Island Resources has become one of the largest holders of mining exploration licenses in Serbia after acquiring fellow Australian firm Konstantin Resources. The acquisition gives Middle Island 14 licenses covering 62,000 hectares, more than any other company in the country.
The licenses include three main project areas—Bobija, Priboj, and Timok—focused primarily on gold and copper, with additional potential for silver, lead, and zinc. The initial focus is on the Bobija project, a 20,800-hectare site about 100 km southwest of Belgrade, including former barite mines where prior exploration indicated significant polymetallic mineralization near the surface.
Previous drilling results at Bobija revealed notable grades, including up to 1.91 g/t gold, 122 g/t silver, 4.23% lead, and 4.73% zinc in some sections. Middle Island plans extensive soil sampling and exploration across the Bobija area, targeting historical sites like the Tisovik lead mine and Rebelj copper mine.
Middle Island Resources aims to transform into a global copper and gold explorer, leveraging Serbia’s modern mining laws and infrastructure. The acquisition of Konstantin Resources was valued at AUD 9.5 million, with shareholder approval expected by late October or early November. Investors see the project as highly promising, potentially comparable to successful Balkan mining ventures like Adriatic Metals’ Vareš project.
