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Mundoro Announces Completion of 5000 Meters Drilling by FQM on Serbian Properties
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 3, 2015) - Mundoro Capital Inc. (TSX VENTURE:MUN) (www.mundoro.com) ("Mundoro" or the "Company") is pleased to
About this update from Mundoro Capital Inc.
[{"type":"text","content":" VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 3, 2015) - Mundoro Capital Inc. (TSX VENTURE:MUN) (www.mundoro.com) (\"Mundoro\" or the \"Company\") is pleased to report First Quantum Minerals Inc. (\"FQM\") has completed 5,000 meters of drilling on the Company's 100%-owned exploration licenses, Savinac, Sumrakovac, Bacevica and Osnic (the \"Southern Timok Properties\") which are located at the southern portion of the Timok Magmatic Complex (\"TMC\") in northeastern Serbia (see Location Map of Drilling). Drilling commenced in July 2015 under the Option Agreement (\"Agreement\") between Mundoro and FQM. FQM is sole funding the drilling program and has completed the 5,000 meters required on the Southern Timok Properties by October 30, 2015. FQM is currently drilling an additional 600 meters beyond the minimum 5,000 meters required. We anticipate this additional drilling will be completed by mid-November 2015. Teo Dechev, CEO and President of Mundoro, commented, \"This first phase of reconnaissance drilling at the Sothern Timok Properties has validated and confirmed the presence of large areas of zoned hydrothermal alteration systems, intersected new mineralised zones and added valuable geological, structural and geochemical information for this large part of the TMC. We believe the results are encouraging and will add significantly towards targeting of mineralised centers of these systems. The drilling was spread out to test various copper-gold targets over the four Southern Timok Properties. After all assay results from the drilling program have been received from the labs, Mundoro will provide drill results. Due to the slow turnaround of assay results from the labs, we anticipate drill results will be available for release around the end of November 2015. FQM can provide notice to Mundoro up to December 15, 2015 should they wish to enter into a joint venture with Mundoro for the Southern Timok Properties.\" Teo Dechev added, \"We see this drilling program as a good step towards testing the various copper-gold porphyry targets over the Southern Timok Properties and firmly believe this part of the TMC is a prolific portion of the Tethyan belt with potential to host further significant discoveries. For Mundoro shareholders, the funds FQM is spending on drilling and geophysics will meet near term exploration objectives as well as ...