Business
Mundoro Mobilises Drill to Gold Target in Bulgaria
VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 6, 2017) - 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 - March 6, 2017) - Mundoro Capital Inc. (TSX VENTURE:MUN) (www.mundoro.com) (\"Mundoro\" or the \"Company\") is pleased to announce a drill rig has been mobilized to the Angel Vyvoda (\"Angel\") gold target on the Company's Zvezda license (\"Zvezda\"). Zvezda is one of two large and contiguous exploration licenses located in south-eastern Bulgaria in the Rhodopean Region and is part of the Tethyan metallogenic belt. HIGHLIGHTS The drill program at Zvezda will focus on the Angel gold target generated by systematic exploration completed by Mundoro in 2015 and 2016. This drill program aims to test a gold-in-soil geochemical anomaly coincident with mapped structural trends and covering an area of 2.7 km by 1.5 km. Mundoro holds approximately $5 mln in cash as of December 31, 2016 and is debt free Teo Dechev, CEO & President of Mundoro commented, \"We are looking forward to drill test the Angel gold target which our geological team discovered through soil geochemistry, mapping and structural analysis. Based on the data compiled to date, we believe the Angel gold target may be geologically analogous to the nearby Ada Tepe deposit at the Krumovgrad Project currently under construction by Dundee. We expect to complete drilling by the end of April 2017 and to release assay results around the end of May 2017.\" Overview of Angel Gold Target The current drill program will test the gold-in-soil geochemical anomalies in the Zvezda license. A soil geochemical survey highlights a 2.7 km x 1.5 km area anomalous in Au-Ag-Sb-As-Mo suit of elements (epithermal) and delineating at least three sets of E-W to NW-SE structures Figure 1: Angel Target Gold-in-Soils Geochem Anomaly The targeted mineralised zone is hosted in Eocene sediments and expressed on surface as discrete fault controlled breccia and veinlets. Gold mineralisation appears to be of low-sulphidation style hosted in Eocene sediments. Rock and soil sampling results returned 1 to 3.3 g/t Au in rock outcrops along three gold bearing structures delineated by soil Au anomalies trending NW from 1.5 km to 2.7 km long. The apparent trend of the anomalies is coincident with the known structural trend in the region. Follow-up fieldwork and interpretation suggests that the broad nature of the anomaly is a result of steep structures which have transport...