Business
Mundoro Capital Expands Portfolio With New Copper and Gold Projects in Bulgaria
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 2, 2017) - Mundoro Capital Inc. (TSX VENTURE:MUN)(www.mundoro.com) ("Mundoro" or the "Company") is pleased to a
About this update from Mundoro Capital Inc.
[{"type":"text","content":"VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 2, 2017) - Mundoro Capital Inc. (TSX VENTURE:MUN)(www.mundoro.com) (\"Mundoro\" or the \"Company\") is pleased to announce the Company has been notified by the Ministry of Energy that Bulgaria Alpha EOD, a 100% subsidiary of the Company, has won the tenders for the Svoboda permit (\"Svoboda\") and the Pesnopoy permit (\"Pesnopoy\") in Bulgaria. Teo Dechev, CEO and President of Mundoro commented, \"We are pleased to have been named the winner of the Svoboda and Pesnopoy tenders. Before exploration can begin on these two projects, further procedural steps are required before the exploration contracts are signed with the local government which we estimate may be completed by mid-2018. Part of capital to be raised through the Company's current C$1.5 million financing will be used to fund project acquisition and exploration of these projects.\" Dechev adds \"Mundoro continues to advance projects both through direct exploration and strategic partners in joint ventures. Mundoro completed Q2-2017 with C$3.1 million in cash and cash equivalents and short term investments and no debt. We are pleased to be working with our joint venture partner in Serbia, JOGMEC, who is funding the drilling at the Borsko and Zeleznik projects in H2/2017. As well, Mundoro has a portfolio of four projects covering 400 sq.km of the southern half of the Timok magmatic complex in Serbia and a growing package of exploration contracts in Bulgaria. \" 1. Svoboda Project Overview Svoboda is located in the Panagyurishte Region which is approximately 100 km south-east of Sofia, see Figure 1: Location Map of Projects. Svoboda covers 189 sq.km. (18,900 hectares) of the south-eastern portion of the Panagyurishte Metallogenic Zone (\"Panagyurishte\"). The Panagyurishte Belt is the most prospective belt for copper and gold porphyry and epithermal high sulphidation deposits in Bulgaria. It is part of the upper Cretaceous Banat-Timok-Srednogorie Belt which hosts a number of economically viable porphyry and epithermal copper and gold deposits such as the: Moldova Nova, Majdanpek, Bor and Chelopech. Figure 1: Location Map of Projects Within Svoboda, there are two identified prospects to date: the Radka high sulphidation copper and gold deposit (\"Radka\") and the Red Hill copper and gold prospect (\"Red Hill\"). Radka The Radka...