Mundoro Capital Inc. (TSXV:MUN, www.mundoro.com) (“Mundoro” or the “Company”) is pleased to announce an update on the Tiva Rosh drilling program in Serbia as well as the closing of the acquisition of the Chuprene Exploration Permit (“Chuprene”), located in northwestern Bulgaria approximately 65km southeast of Bor in the Timok Complex.
Serbia Drilling Program Update
Mundoro recently began drilling on its Tilva Rosh prospect in Serbia on June 28, 2014. The Tilva Rosh prospect was outlined by a gold-in-soil anomaly of 600m by 150m which was confirmed with follow up trenching in Q4-2013 and Q2-2014.
The Company is drill testing depth extension of the outcropping epithermal gold mineralization with six diamond drill holes each with a depth of approximately 150m (see Figure 1 – Tilva Rosh Drill Plan and Progress). The Company has completed the first three holes concentrating on the area of the previously reported trenching results, which returned 12m of 30.39 g/tonne gold and 171.27 g/tonne silver (see press release dated October 21, 2013).
The drill core has intersected the hydrothermal breccia hosting the mineralization which was trenched on surface as well as a feldspar porphyry which is argillic altered. The drill core has also intersected sections of (i) quartz-pyrite-chalcopyrite mineralization; (ii) pyrite-galena-sphalerite mineralization and (iii) semi-massive pyrite chalcocite-covellite-bornite mineralization.
Assay results are scheduled to be published in Q3-2014 along with further description of the drill core from the holes.
Source The Wall Street Journal
