Terra Balcanica Discovers GOLD ON Surface at Brezani Target Within Viogor-Zanik Project in Bosnia
TERRA BALCANICA DISCOVERS GOLD ON SURFACE AT BREZANI TARGET
WITHIN VIOGOR-ZANIK PROJECT IN BOSNIA
Vancouver, British Columbia – August 17th 2022 – Terra Balcanica Resources Corp. (“Terra”
or the “Company”) (CSE:TERA) is pleased to announce the results of exploration trenching at
the Brezani target at its 90% owned Viogor-Zanik project in Bosnia and Herzegovina.
Highlights
• All composite assays obtained from 4 surface trenches totaling 205 m at the greenfield
Brezani target intercepted gold mineralization;
o Trench BRE_004 returned 32 m at 0.54 g/t AuEq. including 10 m at 1.01 g/t
AuEq.;
• Gold-silver-zinc-copper mineralization is confirmed over a 255 m by 220 m area and
open along strike within an 850 m gold-in-soil anomaly;
• Trenching is centred on a 1.2 km wide magnetic high coincident with a strong
conductivity anomaly open at depth; this key geochemical and geophysical target will
be drill-tested in the current program;
• Diamond drilling at Brezani has commenced and assays will be released shortly.
Terra Balcanica CEO, Dr. Aleksandar Mišković, comments: “Brezani is an exciting greenfield
target discovered by our team in 2021 based on systematic soil sampling and geophysics. The
follow up trenching has confirmed significant gold intercepts at surface that may be part of a much
larger sulfide mineralized system at depth, which is implied by a 1.2 kilometer wide magnetic and
conductivity anomaly. We have now advanced the Brezani target to the drill- testing stage, and
assays from our first hole will be released shortly.”
Results
Trench ID From
(m)
To
(m)
Length
(m)
Au
(g/t)
Ag
(g/t)
Cu
(%)
Zn
(%) AuEq. (g/t)
BRE_TR_001 0 48 48.0 0.11 0.11 0.015 0.04 0.15
including 30 34 4.0 0.38 0.13 0.007 0.06 0.42
BRE_TR_002 0 4 4.0 0.35 3.51 0.018 0.05 0.43
BRE_TR_003 0 34 34.0 0.14 0.58 0.007 0.04 0.17
including 28 34 6.0 0.27 0.19 0.003 0.08 0.31
BRE_TR_004 20 52 32.0 0.49 0.51 0.009 0.08 0.54
including 28 38 10.0 0.96 0.20 0.008 0.07 1.01
Table 1. Principal composite assay intervals for the Brezani surface trench samples. Gold equivalents
(“AuEq.”) are based on assumed metal prices of US$1,950/oz for gold (Au), US$18.00/oz for silver (Ag),
US$4.00/lb for copper (Cu) and US$1.50 /lb for zinc (Zn). The calculations assume 100% metallurgical
recovery and are indicative of gross in situ metal value. All values are rounded to nearest hundredth except
for Cu which is rounded to a thousandth %.
Figure 1 . Tethyan m etallogenic belts of the Balkans with the Terra Balcanica project locations. Key
projects to note include the 7.3 Mt @ 485 g/t AgEq. Vares silver project in Bosnia owned by Adriatic Metals
(ASX:ADT), 1.8 Bt @ 0.86% Cu Cukaru Peki deposit in Timok, Serbia (Zijin Mining), and the 16.8Moz Au
Kişladag project in Turkey and 568 Mt @ 0.35% Cu and 0.47 g/t Au Skouries project in Greece owned by
Eldorado Gold (TSX:ELD). Click here to view image.
Brezani Target - Introduction
• The Viogor-Zanik project is located within the Oligo-Miocene Srebrenica Magmatic Complex
(“SMC”). SMC is situated at the far northwestern extent of the Serbo- Macedonian
Metallogenic Province (“SMMP”). This prolific metallogenic province is host to several world
class Au-Ag-Cu-Pb-Zn deposits (Figure 1).
• The Brezani target is located 8.4 km south of the operating Sase Mine (Figure 2), which is
owned and operated by Mineco Ltd., a private mining company. The Sase Mine produces
approximately 330,000 tonnes of lead-zinc-silver-gold concentrate per year.
• Brezani hosts several components of a large magmatic -hydrothermal system. It was a
greenfield discovery made by the Company after applying modern exploration techniques over
the 2020-2022 period including geochemical, geophysical, and structural analysis.
o Soil sampling was completed on a 125m x 125m grid and defined a geochemical anomaly
for detailed geological mapping. An extensive package of hornfels was subsequently
identified in contact with diorite and granodiorite intrusive rocks.
o Geophysical analysis including 1331- line km airborne magnetic and electromag netic
surveys completed in 2021 identified a 1.2 km magnetic high anomaly that may be a
proxy for a much larger mineralized system at depth (Figure 3).
o Trenches were completed to expose bedrock at the inferred hornfels -intrusive contact.
Sphalerite and chalcopyrite bearing calc- silicate hornfels and banded exoskarns are
observed coincident with Au- Bi-Te-Zn soil geochemical anomalies, marking a contact
metasomatic halo. Sulfides are disseminated and lamination parallel. Pervasively argillic
altered volcanics and vuggy silica are noted in the trenches indicating a shallow level of
erosion (Figure 4 and 5).
Figure 2. Geological map of the 216 km2 Viogor Zanik project with the Brezani target in the southeastern
part of the project. The other key identified targets within the project are Olovine and Cumavici. The Sase
mine (Mineco Ltd.) produc es 330,000 tpa of Pb- Zn-Ag concentrate and is located at the centre of Terra
Balcanica’s project. Click here to view image.
Figure 3. Geological map of Brezani outlines the trenching centred upon the geochemical and 1.2 km wide,
subsurface magnetic anomaly. BRE_DD_001 is the collar location of the initial drillhole planned to test
the Brezani target where drilling has commenced. Click here to view image.
Figure 4. Plan view of Brezani AuEq. intercepts as strip logs on surface geology (scale 1:800).
Click here to view image.
Figure 5. Systematic logging and composite sampling along 2-m deep and 80 cm wide exploration trenches
at Brezani revealed arg illically altered (grano)diorites as vuggy residual quartz (A) and calc -silicate
hornfels (B) with disseminated and lamination parallel sulfides. Click here to view image.
Trench ID Easting Northing Elevation (m) Azimuth Length (m)
BRE_TR_001 368490 4880021 893 175 48
BRE_TR_002 368495 4879973 885 184 30
BRE_TR_003 368494 4879954 848 297 34
BRE_TR_004 368516 4879975 890 285 60
Table 2. The Brezani trench collar survey information (WGS84; UTM Zone 34N).
QAQC
Two-meter composite lithic samples were delivered to ALS Bor, Serbia for sample preparation
and subsequent wet chemical analysis at the ALS laboratory Loughrea, Ireland , an ISO/IEC
17025:2017 certified testing laboratory. Sample preparation PREP-31BY method was used on all
rock samples. This involved crushing to 70% less than 2 mm, rotary split 1.0 kg and pulverizing
the split to greater than 85% passing 75 microns. Silver and base metals were analysed by ICP MS
after a four-acid digest (ME-MS61). Gold was assayed by 30g fire assay with ICP AES finish (Au-
A
B
ICP21). Over limit samples returning greater than 10 ppm gold are re -analysed using a 30g fire
assay with gravi metric finish (Au -GRA21) and base metals by the four -acid digest ICP -AES
analyses termed ME -OG62. Control samples comprising the certified reference material CDN-
ME-1501 (Canadian Resource Laboratories Ltd.), field duplicates and blanks were inserted at 3%
rate and investigated as part of the company’s quality assurance and quality control program.
Qualified Person
Dr. Aleksandar Mišković, P.Geo, is the Company’s designated Qualified Person for this news
release within the meaning of National Instrument 43- 101 Standards of Discl osure of Mineral
Projects (“NI 43-101”) and has reviewed and validated that the information contained in this news
release as accurate.
About the Company
Terra Balcanica is a polymetallic exploration company targeting large -scale mineral systems in
the Balkans of southeastern Europe. The Company has 90% interest in the Viogor -Zanik Project
in eastern Bosnia and Herzegovina, 100% of the Kaludra mineral expl oration licence in Serbia
and has a pending exploration license at the Ceovishte property in Serbia. The Company
emphasizes responsible engagement with local communities and stakeholders. It is committed to
proactively implementing Good International Indus try Practice (GIIP) and sustainable health,
safety and environmental management.
ON BEHALF OF THE BOARD OF DIRECTORS
Terra Balcanica Resources Corp.
“Aleksandar Mišković”
Aleksandar Mišković
President and CEO
For further information, please contact Aleksandar Mišković at [email protected],
or visit our website at www.terrabresources.com.
Cautionary Statement
This news release contains certain forward-looking information and forward-looking statements
within the meaning of applicable securities legislation (collectively “ forward-looking
statements”). The use of any of the words “will”, “intends” and similar expressions are intended
to identify forward -looking statements. These statements involve known and unknown risks,
uncertainties and other factors that may cause actual results or events to differ materially from
those anticipated in such forward-looking statements. Such forward-looking statements should not
be unduly relied upon. Actual results achieved may vary from the information provided herein as
a result of numerous known and unknown risks and uncertainties and other factors. The Company
believes the expectations reflected in those forward -looking statements are reasonable, but no
assurance can be given that these expectations will prove to be correct. The Company does not
undertake to update these forward-looking statements, except as required by law.