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Mundoro Reports on Q4-2019 Exploration for Serbia and Bulgaria Programs
Vancouver, British Columbia--(Newsfile Corp. - February 26, 2020) -  Mundoro Capital Inc...
About this update from Mundoro Capital Inc.
[{"type":"text","content":"Mundoro Reports on Q4-2019 Exploration for Serbia and Bulgaria ProgramsVancouver, British Columbia--(Newsfile Corp. - February 26, 2020) -  Mundoro Capital Inc. (TSXV: MUN) (www.mundoro.com) (\"Mundoro\" or the \"Company\") is pleased to report on exploration activity for the Company's partner funded exploration programs that are ongoing in Serbia and Bulgaria. The Company's unaudited consolidated financial statements and Management's Discussion and Analysis are expected to be filed by the end of April 2020 on SEDAR at www.sedar.com and posted on the Company's website at www.mundoro.com.EXPLORATION ACTIVITY DURING Q4-2019 Mundoro Generative Programs and Outlook for Projects Available for Option or Joint VentureMundoro's exploration portfolio of targets, projects and partners is designed such that the success of the company is driven by the proven earn-in funding model. The Company has an ongoing target generation program where we evaluate both existing and new target areas in Serbia and Bulgaria. The Company has applications in Serbia and Bulgaria for further exploration areas. Mundoro continues to have discussions with interested third parties seeking options on our available projects, confirming the growing interest in exploring in Timok, Serbia as well as in Bulgaria. At December 31, 2019, Mundoro had a treasury position of $2.6 million which is a strong working capital position for new project generation, completing license maintenance exploration work while optioning our projects to third parties, and general administration. Freeport-Mundoro ProjectsAt the Freeport-Mundoro Projects (see Figure 1 - Location Map of Projects in Serbia), drilling is ongoing and has been increased from an initial 3,500 meter program to 8,541 meters with the possibility it may increase further such that drilling is not expected to be completed until the end of Q1-2020 with results expected in Q2-2020 (see Figure 2 - Freeport-Mundoro Project - Drill Target Locations). A summary of the targets and exploration at each area is provided below: Tilva Rosh (Savinac License) This target is a large area of 2.5 km x 1 km of advanced argillic alteration containing epithermal gold mineralization cropping out at surface as observed through trench sampling by Mundoro in 2013 which returned 12 m of 30 g/t gold and 171 g/t silver. Interpretation of prior dr...