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Mundoro Announces Drill Program at Borsko Project in Timok Serbia
VANCOUVER, British Columbia, July 05, 2018 (GLOBE NEWSWIRE) -- Mundoro Capital Inc. (TSXV:MUN) (www.mundoro.com) ("Mundoro" or the "Company") is pleased to anno
About this update from Mundoro Capital Inc.
[{"type":"text","content":" VANCOUVER, British Columbia, July 05, 2018 (GLOBE NEWSWIRE) -- Mundoro Capital Inc. (TSXV:MUN) (www.mundoro.com) (\"Mundoro\" or the \"Company\") is pleased to announce mobilization for drilling at the Borsko Jezero license (“Borsko”). Borsko is one of the four licenses being sole funded by Japan Oil, Gas and Metals National Corporation (“JOGMEC”) as part of the Amended Earn-in Agreement announced August 2016. Borsko is located in the central portion of the Timok Magmatic Complex (“Timok”) directly west of Bor copper-gold system. Timok is one of the most prolific metallogenic domains in the Tethyan Belt. Timok hosts the Cukaru-Peki deposit, and the Serbian state-operated producing mines, the Bor copper porphyry underground mine and the Veliki Krivelj copper-gold porphyry open-pit mine (Figure 1: Location of Borsko). HIGHLIGHTS The Borsko Phase III drill program is follow-up to the Phase II drill program completed in November 2017 which confirmed extension of advanced argillic alteration discovered at Target 1 beneath 550 m of agglomerate volcanic cover. Two of the Phase II drill holes (17-BJ-11 and 17-BJ-12) at Target 1, demonstrated the hydrothermal alteration and associated epithermal mineralisation remain open in three directions: (i) along strike to the northwest; (ii) down plunge to the northwest, and (iii) to the east-northeast. The Phase III drill program, which is estimated to include 5,000 m of drilling, aims to test: Target 1: lateral extension of the alteration shell and mineralisation intersected in drill hole 17-BJ-11 (15m @ 1.04 g/t Au and 6.9 g/t Ag) further to the east-northeast towards what has now been identified as IP chargeability anomaly (Figure 2 and 3); Target 5: a new target identified to test a shallower and stronger IP chargeability anomaly coincident with magnetic low anomaly at favorable structural intersection located 1,500 m north-northeast of Target 1. Additional targets: identified by both structural interpretation and geophysical programs using CSAMT, ground magnetics, IP-Resistivity and gravity. Completion of drilling is expected in September 2018 with a release of results in November 2018. Teo Dechev, CEO & President of Mundoro commented, “The Borsko license continues to be a focus for the JOGMEC earn-in option due to its structural complexit...