Business
Mundoro and Jogmec Form Generative Program Alliance
Vancouver, British Columbia--(Newsfile Corp. - March 4, 2019) - Mundoro Capital Inc. (TSXV: M...
About this update from Mundoro Capital Inc.
[{"type":"text","content":"Mundoro and Jogmec Form Generative Program AllianceVancouver, British Columbia--(Newsfile Corp. - March 4, 2019) - Mundoro Capital Inc. (TSXV: MUN) (www.mundoro.com) (\"Mundoro\" or the \"Company\") is pleased to report that it has entered into a Generative Program Agreement (the \"Strategic Alliance\") in the Republic of Bulgaria (\"Bulgaria\") with Japan Oil, Gas and Metals National Corporation (\"JOGMEC\"). The purpose of this Strategic Alliance is to establish a generative program between Mundoro and JOGMEC, whereby Mundoro will carry out mineral exploration activities in Bulgaria under the direction of a joint Technical Committee with the view to identifying areas of interests that merit additional exploration and/or development work. JOGMEC will solely fund the Strategic Alliance. The term of the generative program under this Strategic Alliance continues until December 31, 2019, subject to extension with consent of both parties. Upon JOGMEC determining that one or more properties merit additional exploration and/or development work, JOGMEC has the right to establish a joint venture on that property with Mundoro.Teo Dechev, CEO and President of Mundoro commented, \"We are very pleased to expand our relationship with JOGMEC for project generation in Bulgaria. This Strategic Alliance between Mundoro and JOGMEC is a natural progression for further exploration along the Tethyan belt. Mundoro is pleased to continue to work with JOGMEC which has a strong reputation as a long term, strategic partner in mineral projects globally. We believe that local knowledge and experience are essential components of operating in a foreign jurisdiction such as Bulgaria, and Mundoro has successfully demonstrated its capacity in this regard by securing exploration contracts and operating two exploration licenses in Bulgaria since 2012.\"About BulgariaBulgaria has a long-established mineral resources industry that Mundoro believes will provide opportunity for investors with a long-term view into this precious metals belt. Bulgaria has three mineral belts that comprise the Tethyan Metallogenic Belt: (i) Northern Proterozoic Belt (Balkan Belt); (ii) Central Cretaceous Belt (Srednogorie Belt); and (ii) Southern Tertiary Belt (Rhodopean Belt). The Srednogorie Belt has copper-gold porphyry and epithermal deposits while the Balkan belt has potential for ...