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Mundoro Announces Drill Results from Mundoro-JOGMEC Timok North Projects
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 4, 2016) - 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. 4, 2016) - Mundoro Capital Inc. (TSX VENTURE:MUN) (www.mundoro.com) (\"Mundoro\" or the \"Company\") is pleased to report assay results from drilling on the Company's 100% owned exploration licenses, Dubrava and Zeleznik which are located at the central and northern end of the Timok Magmatic Complex (\"TMC\") in northeastern Serbia (see Figure 1: Location Map - Timok North Projects). The two exploration licences are under the Option Agreement between Mundoro and Japan Oil, Gas and Metals National Corporation. (\"JOGMEC\") announced March 7, 2016 and as a result this drilling program was fully funded by JOGMEC. Further to Mundoro's press release of July 5th, 2016, the drilling program completed a total of 3000 meters over eight drill holes. Three holes were drilled at each of the East Zone and West Zone respectively in the Zeleznik license and two holes were drilled at the Dubrava license. Teo Dechev, CEO and President of Mundoro commented, \"We believe the drill results continue to demonstrate the potential for both mineralized copper-gold porphyries as well as massive-sulphide style mineralization at the West Zone and East Zone respectively. Multiple intercepts assayed over 0.30% Cu over tens of metres demonstrating the potential for a mineralized system. Mundoro's technical team is incorporating the new data into our model of the systems and looking forward to developing the follow up drilling program for the spring of 2017.\" ZELEZNIK DRILLING RESULTS The 2016 drill program at Zeleznik comprised a total of six diamond drill holes, three at each of the East Zone and West Zone targets respectively (See Figure 2: Zeleznik Drill Hole Location Map). East Zone Drilling The three holes drilled at the East Zone targeted potential strike and depth extensions of copper-gold mineralization identified in previous drill campaigns (See Figure 3: East Zone Drill Hole Location Map). The true widths of the drill hole intercepts below cannot be determined from the information available at this stage. Drillhole ZELDD08 was sighted on untested copper-gold soil anomaly and directed towards a low resistivity and moderate IP anomaly at 500m depth (Figure 2). The drill hole intersected mineralised andesite: 17.1 m @ 0.32 g/t Au; 0.15% Cu from 50 m to 67.1 m, including 3 m @ 0.62 g/t Au from 54m to 57m...