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Mundoro Commences 2023 Drill Program at the Vale Optioned Projects in Timok, Serbia
Vancouver, British Columbia--(Newsfile Corp. - April 3, 2023) - Mundoro Capital Inc. (TSXV: MUN)...
About this update from Mundoro Capital Inc.
[{"type":"text","content":"Mundoro Commences 2023 Drill Program at the Vale Optioned Projects in Timok, SerbiaVancouver, British Columbia--(Newsfile Corp. - April 3, 2023) - Mundoro Capital Inc. (TSXV: MUN) (OTCQB: MUNMF) (www.mundoro.com) (\"Mundoro\" or the \"Company\") is pleased to announce commencement of the 2023 drill program at the Vale-Mundoro Option Projects located in the southwest portion of the Timok Magmatic Complex (\"Timok\") in Serbia. The drill program is part of the 2023 Work Program and Budget which is solely funded by Vale and for which Mundoro is operator. The drill program has planned 8,000 meters to test five (5) target areas with nine (9) drill holes. The five main target areas for drill testing during the 2023 drill program are: (i) Tilva Rosh, (ii) Markov Kamen, (iii) Bacevica North, (iv) Orlovo, and (v) Prekostenski. These five areas have been selected out of several target areas ranked as prospective for porphyry copper-molybdenum-gold deposits within the Vale-Mundoro Option Projects.Regional SettingThe Timok region in eastern Serbia is known as a mining district with more than 100 years of mining comprising approximately 4 billion tons in porphyry systems over 5 known mines. The Timok Magmatic Complex is host to the largest copper-gold porphyry deposits in the western portion of the Tethyan Belt such as (i) Cukaru-Peki, a high sulphidation epithermal copper-gold and porphyry copper deposit, (ii) Bor underground mine which is a copper-gold porphyry (\"Bor Mining Complex\"), (iii - iv) Veliki Krivelj and Majdanpek open-pit mines which are both copper-gold porphyries and (v) the recently re-opened Cerovo porphyry copper-gold open-pit mine (see Figure 1).Figure 1 - Location Map of Vale-Mundoro Projects in Timok, Serbia with drill hole locations of the 2023 drill program.To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/2408/160889_f26a87a134be3b90_001full.jpgHighlights of the TargetsIn the Tilva Rosh and Markov Kamen target areas, the current drill program is a follow up drilling campaign utilizing vectors to a potential porphyry system identified from interpretation of previous drill results and geophysical surveys. At the Bacevica North target, a strong and near surface Induced Polarization (IP) anomaly is confirmed and will be further tested as a result of recently received encoura...