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Terra Balcanica Resources Commences Phase II Drilling at Viogor-Zanik Project in Bosnia And Announces Private Placement Financing
Vancouver, British Columbia, April 04, 2023 (GLOBE NEWSWIRE) -- Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1) is pleased to ann
About this update from Terra Balcanica Resources Corp.
[{"type":"text","content":" Vancouver, British Columbia, April 04, 2023 (GLOBE NEWSWIRE) -- Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1) is pleased to announce the start of the Phase II drill campaign at its primary Viogor-Zanik project in eastern Bosnia and Herzegovina by separately targeting high-grade, epithermal, vein hosted, silver dominated mineralization as well as a wide diameter, gold skarn/porphyry system, respectively (see Figure 1). Phase II Drilling Program At the Cumavici target, Terra will test the along strike and down dip continuity of the high grade polymetallic, intermediate sulfidation epithermal vein at Cumavici Ridge. Discovery of the Cumavici Ridge mineralization in 2022 confirmed Terra’s exploration model. Vein-hosted polymetallic sulphides occupy a 7.2 km long, NW-SE oriented, magnetic low lineament, identified in Terra’s 2021 airborne SkyTEM survey. The 2023 drilling efforts will follow this structure continually over 650 m strike length. The far NW reaches of the structure are de-risked by note of massive sulfide mineralization in the Yugoslav era drillholes (see Figure 2). Figure 1. Terra’s 216 km2 Viogor-Zanik project with the epithermal vein hosted Cumavici corridor and the Brezani gold skarn/porphyry system as the primary Phase II drill targets. (Click to view image). In addition to the Cumavici high-grade, silver dominated epithermal system, Terra intends to continue testing the 1.2 km wide gold skarn/conductivity target interpreted to represent a porphyry system at 450 m depth at the locality of Brezani. Figure 2. Projected Phase II drill fences at the Cumavici Ridge target along 650 m of the epithermal vein strike length (Click to view image). The 2022 Phase I drilling terminated within the gold mineralization mostly represented by electrically resistive hornfels and skarn lithologies. Phase I drilling at Brezani discovered a significant gold system, with mineralization present within both calc-silicate and intrusive lithologies from surface. Drillhole BREDD002 tested a resistive body of rock, which overlies a > 600 m wide conductor, reaching > 60 mS/m at depth, coincident with magnetic anomalism. This conductor indicates a stark difference in rock properties and Terra interprets this as an increase in sulphide content/connectivity representing a proximal Au-Cu skarn or sulphide ric...