Business
Mundoro Identifies New Gold Targets on Zeleznik Property in Serbia
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 16, 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 - Aug. 16, 2016) - Mundoro Capital Inc. (TSX VENTURE:MUN)(www.mundoro.com) (\"Mundoro\" or the \"Company\") is pleased to provide an update on exploration results at the Zeleznik Property (\"Zeleznik\") which is one of the four subject properties currently being sole funded by JOGMEC as part of the JOGMEC-Mundoro joint venture (see press release August 2, 2016). Zeleznik is located at the northern end of the Timok Magmatic Complex in northeastern Serbia; the license is north of the state-owned Majdanpek copper-gold mine. Teo Dechev, CEO & President of Mundoro commented, \"Mundoro has delineated several gold and copper targets in Zeleznik. This license now hosts two newly discovered prospective gold zones at the northern portion of the license as well as the advanced, drill defined, West Zone copper porphyry, and East Zone massive sulphides, in the southern portion. Shareholders can expect news flow over the coming months from both the drilling program currently underway which is designed to further test and delineate the coppery porphyry in the West Zone and the massive sulphides in the East Zone; and from the trenching to follow up these prospective gold zones discovered from the spring sampling program.\" Zeleznik Central Target (See Figure 1: Zeleznik Property Target Areas) Mundoro completed further detailed mapping of the entire license area along with rock chip sampling. Several new areas demonstrating hydrothermal alteration assemblages were also discovered in the central portion of the Zelezknik property through this mapping program. The gold mineralisation appears to be hosted within EW fault zones which crosscuts the regional main NS structural trend of the orogenic gold bearing belt that runs parallel to the Timok belt and is associated with very high As, Sb and elevated Ag, Zn and Cu. The Central target area (Figure 1) returned significant gold results including: a channel chip sample grading 9.44 g/t Au; 10.63 g/t Ag over 3 m including 1m @ 15.75 g/t Au; 20.80 g/t Ag a channel chip sample grading 11.75 g/t Au; 10.20 g/t Ag over 1.5 m; a grab sample with 1.88 g/t Au; 1.60 g/t Ag taken from the NS structure This area will also be tested during the upcoming trenching program in the Q4-2016. These encouraging gold rock geochemical results appear to be related to quartz veins ...