Mundoro Announces Drilling Results from Tilva Rosh Prospect IN Serbia
MUNDORO ANNOUNCES DRILLING RESULTS FROM TILVA ROSH PROSPECT IN SERBIA
July 19, 2017, Vancouver, BC - Mundoro Capital Inc. (TSXV: MUN, www.mundoro.com) ("Mundoro" or
the "Company") is pleased to announce drilling results from the Tilva Rosh prospect within the 100%
controlled Savinac exploration license in north -eastern Serbia. The Savinac license covers 90 km² and is
located in the Timok Magmatic Belt, approximately 20 km southeast of the Bor mining camp.
Teo Dechev, CEO and President of Mundoro commented, “This Phase II drilling program at Tilva Rosh
was designed to test mineralization along 400 m of strike to an average depth of 100 m as follow -up to
the discovery trench, which contained a 12 m interval of 30 g/t gold and 171 g/t silver, and to the initial
drill testing of this area. Results from drilling, trenching, geochemical soil sampling and alteration
mapping have successfully demonstrated a gold system associated with three identified structures.
Exploration has also identified a large intact lithocap extending approximately 650 m to the north of the
current drilling for follow -up exploration. As a result mineralization remains open to the north, south
and at depth.”
Phase II Drill Program
The Phase II drill program at Tilva Rosh comprised 14 inclined reverse circulation drill holes totalling
1144 m to test the extent of the previously identified gold mineralisation laterally, along strike and at
depth. The system was first supported by high grade trenching results of 12 m @ 33.03 g/t AuEq (30.39
g/t Au, 171.27 g/t Ag) (see October 21, 2013 press release) and later by Phase 1 drill testing (see August
19, 2014 press release). Highlights from Phas e II drilling at Tilva Rosh are shown in Table 1. Collar
locations are shown on Figure 1 -Tilva Rosh Drill Plan.
Table 1: Summary of significant results from drill holes SAV01 to SAV06.
Drill Hole ID From
(m) To (m) Interval (m) Au (g/t) Ag (g/t) Cu (%) AuEq (g/t) CuEq (%)
17-SAV_07 20.0 24.0 4.0 0.52 2.83 0.47 1.21 0.88
35.0 41.0 6.0 1.29 11 0.8 2.56 1.86
Including 35.0 36.0 1.0 1.53 8.8 1.91 4.28 3.12
Including 40.0 41.0 1.0 1.28 8.1 1.46 3.41 2.48
17-SAV_08 101.0 104.0 3.0 3.72 22.67 0.19 4.33 3.16
17-SAV_09 25.0 30.0 5.0 0.32 3.48 - 0.37 0.27
17-SAV_010 63.0 78.0 15.0 0.37 2.2 0.24 0.73 0.54
Including 64.0 71.0 7.0 0.63 4.39 0.43 1.29 0.94
Including 65.0 66.0 1.0 1.25 7.2 1.12 2.90 2.11
88.0 92.0 4.0 0.45 1.45 - 0.47 0.34
17-SAV_011 35.0 39.0 4.0 0.57 0.5 0.13 0.76 0.55
Including 38.0 39.0 1.0 1.91 1.1 0.23 2.24 1.64
139.0 145.0 6.0 0.45 1.8 - 0.48 0.35
17-SAV_12 5.0 11.0 6.0 0.65 7.97 - 0.77 0.56
17-SAV_13 34.0 42.0 8.0 0.92 8.1 - 1.06 0.76
17-SAV_15 88.0 94.0 6.0 0.74 7.5 - 0.86 0.62
17-SAV_17 50.0 60.0 10.0 0.54 4.8 0.23 0.93 0.68
Including 55.0 60.0 5.0 0.95 0.45 0.95 1.71 1.25
Including 55.0 56.0 1.0 1.16 1.29 1.16 3.33 2.43
62.0 82.0 20.0 0.67 0.12 0.67 0.89 0.65
Including 65.0 70.0 5.0 2.02 0.34 2.02 2.69 1.96
17-SAV_20 72.0 83.0 11.0 0.54 ----- 0.54 0.60 0.44
Including 76.0 77.0 1.0 3.68 0.12 3.68 4.21 3.07
Gold Equivalent (“AuEq.”) is calculated using the formula AuEq = (g/t/Au) + (g/t/Ag) + ($/ozAu)/65 + [(%Cu) x
(22.0462) x ($/lbCu)] ÷ [(1/31.1035) x ($/ ozAu)]. Copper equivalent (CuEq%) is calculated using the formula CuEq =
(%Cu) + [(g/t/AuEq) x (1/31.1035) x ($/ozAu)] ÷ [(22.0462) x ($/lbCu)]. Metal prices used are: gold price of
US$1300/oz, copper price of US$2.6/lb, and silver price US$20/oz. All thicknesses from intersections from drill holes
are down-hole drilled thicknesses or outcrop sample length thickness and not true widths.
Drill holes 17 -SAV_16; 17 -SAV_18; 17 -SAV_19 contain anomalous Au -Ag and Cu but did not return
significant intersections.
Interpretation of Phase II Drill Results
Phase II results support the continuation of the main north -south trending mineralised structure over a
length of at least 250 m. The surface trace of the structure strikes towards the north and under the
lithocap (see Figure 2 - Geology, Alteration and Geochemistry at Tilva Rosh ). The lithocap appears to be
displaced by late east -west faults resulting in uplifting the southern portion and uncovering Tilva Rosh
mineralisation. A significant portion of the lithocap over the larger northern block appears to be
preserved. It continues for at least another 650 m from the edge of the intersected mineralised
structure and is marked by a gold -silver-in-soil anomaly with elevated molybdenum. The Tilva Rosh
lithocap is zinc free but bordered by a prominent (100 -600 ppm) zinc anomaly reminiscent of the zinc
distribution in porphyry copper systems.
Recent detailed mapping of the lithocap revealed patchy alteration texture composed of pyrophyllite -
replaced clasts in a silicified matrix and banded quartz veinlets. This is a promising sign that a porphyry
copper centre could occur at depth in the general vicinity of the lithocap.
Prior Exploration at Tilva Rosh by Mundoro
During the 2013 and 2014 fie ld seasons, Mundoro conducted geochemical, mapping, trenching, ground
magnetic surveys over the Savinac license as well as compiling historic data, targeting epithermal and
porphyry copper-gold systems. This work outlined the Savinac mineralised belt (9 km by 2 km) which
includes the Tilva Rosh epithermal system expressed on the surface with a large area of advanced argillic
alteration covering 4 km by 1 km. The Tilva Rosh prospect was explored previously in late 1970’s and
early 2000’s but significant gold mineralisation and porphyry Cu -Au potential was not identified until
Mundoro’s exploration program in Q4-2013.
The Phase I drill program, comprising six inclined RC drill holes totalling 917.8 m, was drilled at the
southern portion of Tilva Rosh system to test the vertical extent of gold mineralization discovered
through previously reported trenching which returned 12m of 30.39 g/t gold and 171.27 g/t silver (see
press release dated October 21, 2013). Highlights from Phase I drilling are shown in Table 2.
The Tilva Rosh prospect was originally outlined by a gold -in-soil anomaly of 600 m by 150 m and
confirmed with follow up trenching in Q4 -2013 and Q2 -2014. The Company also completed ground
magnetics in Q1-2014. These initial drill results at Tilva Rosh a re encouraging and are interpreted to be
proximal to a copper -gold porphyry system related to a large area of advanced argillic lithocaps to the
north.
Table 2: Summary of significant results from Phase I drill holes SAV01 to SAV06.
Drill Hole ID From (m) To
(m)
Interval
(m)
Au (g/t) Ag (g/t) Cu (%) AuEq (g/t) CuEq (%)
SAV_01
Including
Including
11 18 7 7.90 46.74 - 8.62 -
13 15 2 24.98 128.05 - 26.95 -
13 14 1 42.90 199 - 45.96 -
126 133 7 0.35 2.76 - 0.39
SAV_02 30 40 10 0.34 2.16 - 0.37 -
67.7 71.8 4.1 0.62 2.36 - 0.66 -
95.6 100.0 4.4 0.54 6.38 - 0.64 -
SAV_03
Including
71.0 76.0 5.0 2.54 15.54 0.59 3.59 2.61
74.0 74.7 0.7 10.35 50.10 1.47 13.14 9.58
SAV_04
Including
42.2 51.3 9.1 1.24 9.00 0.33 1.83 1.34
43.3 47.3 3.0 1.45 14.60 0.58 2.47 1.80
SAV_05
Including
Including
29 50.2 21.2 0.25 1.78 - 0.28 -
30.4 36.0 5.6 0.43 3.30 - 0.48 -
46.2 50.2 4.0 0.35 3.88 0.14 0.60 0.44
SAV_06 38.50 42.90 4.4 0.59 14.95 0.21 1.11 0.81
Gold Equivalent (“AuEq .”) is calculated using the formula AuEq = (g/t/Au) + (g/t/Ag) + ($/ozAu)/65 + [(%Cu) x
(22.0462) x ($/lbCu)] ÷ [(1/31.1035) x ($/ozAu)]. Copper equivalent (CuEq%) is calculated using the formula CuEq =
(%Cu) + [(g/t/AuEq) x (1/31.1035) x ($/ozAu)] ÷ [(22. 0462) x ($/lbCu)]. Metal prices used are: gold price of
US$1300/oz, copper price of US$2.6/lb, and silver price US$20/oz. All thicknesses from intersections from drill holes
are down-hole drilled thicknesses or outcrop sample length thickness and not true widths.
Sampling, Analysis and Qualified Person
Entire 1m interval RC cuttings are collected from the cyclone in pre -numbered (from/to) large plastic
bag. The sample is weighed. Company technician sieves a small sample from the bag to generate a chip
log and places it in a pre -numbered (from/to) chip box. The sample is passed through riffle splitter
between 1 and 2 times until a ~3 -4kg sample is obtained and sent to ALS Bor prep lab. Duplicate sample
is kept in company core shed for future reference.
All samples are assayed using 50 -gram fire assay with atomic absorption finish and ME -ICP61 by ALS
Romania. The entire sample was crushed to 2mm, then split off a 1 kg sample and pulverized the split to
better than 85% passing 75 microns. Quality Assurance and Quality Control procedures include the
systematic insertion of standards and duplicates into the sample streams. Duplicate samples are taken
every 25 samples and standards and blanks are inserted after every 20th sample. All data collected from
detailed logging and assay results from the laboratories are routinely verified and entered in an Access
database.
Technical information contained in this Press Release has been reviewed and approved by Mr. G.
Magaranov, P. Geo., Qualified Person as defined by National Instrument 43-101.
On behalf of the Company,
Teo Dechev, Chief Executive Officer, President and Director
About Mundoro Capital Inc.
Mundoro is a well -funded, Canadian based, company focused on mineral acquisition, exploration, and
development. Our primary focus is advancing our properties on the Tethyan Belt in Southeastern
Europe. Mundoro has methodically acquired a district -scale land position on this prolific mineral belt
which hosts significant Gold -Copper porphyry and related epithermal deposits. Our strong project
pipeline, which also includes assets in Mexico and China, is positioned to drive long -term, sustainable
growth in order to attain production and shareholder return.
Caution Concerning Forward-Looking Statements
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forward-looking statements. All statements, other than stateme nts of historical fact, included or
incorporated by reference in this News Release are forward -looking statements, including, without
limitation, statements regarding activities, events or developments that the Board expects or anticipates
may occur in the future. These forward -looking statements can be identified by the use of forward -
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or similar words or the negative thereof. The material assumptions that were applied in making the
forward looking statements in this News Release include expectations as to the Company's future
strategy and business plan and execution of the Company's existing plans. There can be no assurance
that the plans, intentions or expectations upon which these forward -looking statements are based will
occur. We caution readers of this News Release not to place undue reliance on forward looking
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Contact Information
For further information please contact Teo Dechev, CEO, President and Director of Mundoro Capital Inc.
at +1-604-669-8055.