Business
Mundoro Provides Update on Serbia Drilling and Announces Closing of Acquisition of New Copper Gold License
VANCOUVER , July 14, 2014 /CNW/ - Mundoro Capital Inc. (TSXV:MUN, www.mundoro.com ) ...
About this update from Mundoro Capital Inc.
[{"type":"text","content":"\n\n\nVANCOUVER, July 14, 2014 /CNW/ - Mundoro Capital Inc. (TSXV:MUN, www.mundoro.com) (\"Mundoro\" or the \"Company\") is pleased to announce an update on the\n Tiva Rosh drilling program in Serbia as well as the closing of the\n acquisition of the Chuprene Exploration Permit (\"Chuprene\"), located in\n northwestern Bulgaria approximately 65km southeast of Bor in the Timok\n Complex.\n\n\nSerbia Drilling Program Update\n\n\nMundoro recently began drilling on its Tilva Rosh prospect in Serbia on\n June 28, 2014.  The Tilva Rosh prospect was outlined by a gold-in-soil\n anomaly of 600m by 150m which was confirmed with follow up trenching in\n Q4-2013 and Q2-2014.\n\n\nThe Company is drill testing depth extension of the outcropping\n epithermal gold mineralization with six diamond drill holes each with a\n depth of approximately 150m (see Figure 1 - Tilva Rosh Drill Plan and Progress). The Company has completed the first three holes concentrating on the\n area of the previously reported trenching results, which returned 12m\n of 30.39 g/tonne gold and 171.27 g/tonne silver (see press release\n dated October 21, 2013).\n\n\nThe drill core has intersected the hydrothermal breccia hosting the\n mineralization which was trenched on surface as well as a feldspar\n porphyry which is argillic altered.  The drill core has also\n intersected sections of (i) quartz-pyrite-chalcopyrite mineralization;\n (ii) pyrite-galena-sphalerite mineralization and (iii) semi-massive\n pyrite chalcocite-covellite-bornite mineralization.\n\n\nAssay results are scheduled to be published in Q3-2014 along with\n further description of the drill core from the holes.\n\n\nChuprene License Acquisition\n\n\nChuprene is an underexplored area by modern exploration methods with the\n potential for discovery of high sulphidation copper-gold, sediment\n hosted gold and intrusion related gold-silver deposits.\n\n\nIn consideration for the transfer of Chuprene, the Company has made an\n upfront payment to the seller of 350,000 common shares of Mundoro at a\n deemed price of C$0.30 per share.  The shares will be subject to a four\n month hold period expiring November 15, 2014.  In the future, in the\n event that the Company files a NI 43-101 compliant resource with\n respect to Chuprene, identifying at least 1,000,000 ounces of\n gold-equivalent in ...