Mundoro Announces Follow up Drill Program ON Borsko License IN Serbia
MUNDORO ANNOUNCES FOLLOW UP DRILL PROGRAM ON BORSKO LICENSE IN SERBIA
August 8, 2017, Vancouver, BC -‐ Mundoro Capital Inc. (TSXV: MUN, www.mundoro.com) ("Mundoro"
or the "Company") is pleased to announce the Company is mobilizing for the Phase II drill program at
the Borsko Jezero license (“Borsko”) where drilling is expected to commence in August. Borsko is one of
the four licenses being sole funded by JOGMEC as part of the Amend ed Earn-‐in Agreement announced
August 2016. Borsko is located in the central portion of the Timok Magmatic Complex (“ Timok”) and is
directly west of the Serbian state-‐operated producing mines, RTB Group’s Bor copper porphyry mine
and the Veliki Krivelj copper-‐gold porphyry mine.
HIGHLIGHTS
● The Borsko Phase II drill program is in follow-‐up to the Phase I drill program completed in May
2017 which tested two of the six generated drill targets.
● The Phase II drill program will test Target 1 with four diamond drill holes totalling approximately
3000 m (see Figure 1). The main goal of this drill program is to further test for epithermal high-‐
sulphidation copper-‐gold mineralisation stepping out from the alteration intersected in BJ-‐06
and BJ-‐07 which began at approximately 580 m depth.
Teo Dechev, CEO & President of Mundoro commented, “With our partner JOGMEC, we are looking
forward to the Phase II step-‐out drill program to test Target 1 with 200 m step-‐out holes to the north,
south, west and east. Mundoro will have an active H2-‐2017 field season comprising of the two JOGMEC
funded drill programs: (i) Borsko Phase II step-‐out drill program in order to test for the epithermal high-‐
sulphidation copper-‐gold mineralization, and (ii) Zeleznik Phase III fence drill program in order to further
delineate the mineralized zones. As of Q1-‐2017, Mundoro had approximately $4.2 mln in cash and is
debt free.”
Figure 1: Location Map of Borsko Phase II Drill Program
Summary of Borsko Drill Program
Core logging and assay results from BJ-‐06 and BJ-‐07 highlighted important findings:
● The highest concentration of geochemical anomalism in both BJ-‐06 and 07 is situated in the
uppermost 30 m of the lithocap. The highest gold and copper values are related to breccia and
veins within and cross-‐cutting the lithocap.
● The contact between the lithocap and overlying chlorite-‐smectite zone is a replacement front,
as defined by the narrow transitional alteration zone and the magnetite remnants in the
uppermost 1 to 2 m of the advanced argillic lithocap (see Figure 2).
● A similar abrupt vertical change from advanced argillic to chloritic alteration appears to
correlate with the tops of the Čukaru Peki (approximately 10 km to the southeast) and Bor
epithermal high-‐sulphidation copper-‐gold orebodies(approximately 4 km to the east) all within
the Timok Magmatic Belt.
Interpretation of the geology and alteration encountered in the Borsko Phase I drilling program
highlights the uppermost part of the lithocap, immediately below the less-‐altered volcanic sequence, as
the prime target for epithermal high-‐sulphidation copper-‐gold orebodies of the Bor and Čukaru Peki
type. In order to further test the Borsko Target 1 for its copper-‐gold potential, the Company has
designed the Phase II step-‐out drilling program to attain vectoring information towards a epithermal
high-‐sulphidation system. The goal is to use geochemical and alteration information obtained in the
four Phase II drill holes (drilled in four quadrants) to vector towards a epithermal high-‐sulphidation
centre, if it is not directly intersected by Phase II drilling.
For further description of the Borkso geology and Phase I drill program, see press release from June 7,
2017 at www.mundoro.com.
Figure 2: Cross Section of Borsko Target 1
Next Steps
The Company expects to complete the drilling in Q4-‐2017 and to release the results around year-‐end.
On behalf of the Company,
Teo Dechev, Chief Executive Officer, President and Director
About Mundoro Capital Inc.
Mundoro is a Canadian mineral exploration and development public company focused on building value
for its shareholders through directly investing in mineral projects that have the ability to generate future
returns for shareholders. The Company currently holds a diverse portfolio of projects in two European
countries as well as an investment in a producing gold mine in Bulgaria and a feasibility stage gold
project in China. The Company holds eight 100% owned projects in Serbia, the four Timok North Projects
are in option to JOGMEC, and the four Timok South Projects are being advanced by
Mundoro. Mundoro’s common shares trade on the TSX Venture Exchange under the symbol "MUN".
Qualified Person
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.
Sampling and Analysis
Drill hole orientations were surveyed at approximately 30 m etre intervals. Company personnel
monitored the drilling, with core delivered daily to the Company’s core storage facility in the town of
Bor, where it was logged, cut and sampled. Core recovery is recorded as 95-‐100% in most intervals, with
the exception of the more intensely tectonized sections.
The samples were collected in accordance with the Company’s protocols that are compatible with
accepted industry procedures and best practice standards. Most samples through the mineralized
intervals were 1 m in length, up to a maximum 2 metres. In sections of poorly mineralized or unaltered
and unmineralised rocks one 2 meter sample was collected at every 15 meter core.
The samples were submitted to ALS Laboratory in Bor, Serbia, for sample preparation and anal ysis. Drill
core samples are assayed using 50-‐gram fire assay with atomic absorption finish and ME-‐MS61 by ALS
Romania. In addition to the laboratory’s internal QA/QC procedures, the Company conducted its own
QA/QC with the systematic inclusion of certified reference materials every 20 samples , blank samples
every 20 samples and field duplicates at every 25 samples.
For further information please contact:
Teo Dechev, CEO, President and Director of Mundoro Capital Inc. at +1-‐604-‐669-‐8055
Caution Concerning Forward-‐Looking Statements
This News Release contains forward-‐looking statements. Forward-‐looking statements can be identified
by the use of forward-‐looking words such as "will", "expect", "intend", "plan", "estimate", "anticipate",
"believe" or "continue" or similar words or the negative thereof, and include the following: completion
of the earn-‐in expenditures and options by JOGMEC; and completion of a definitive joint venture
agreement by the parties. The material assumptions that were applied in making the forward looking
statements in this News Release include expectations as to the mineral potential of the Timok North
Properties, the Company's future strategy and business plan and execution of the Company's existing
plans. We caution readers of this News Release not to place undue reliance on forward looking
statements contained in this News Release, as there can be no assurance that they will occur and they
are subject to a number of uncertainties and other factors that could cause actual results to differ
materially from those expressed or implied by such forward -‐looking statements. These factors include
general economic and market conditions, exploration results, commodity prices, changes in law,
regulatory processes, the status of Mundoro's assets and financial condition, actions of competitors and
the ability to implement business strategies and pursue business opportunities. The forward-‐looking
statements contained in this News Release are expressly qualified in their entirety by this cautionary
statement. The forward-‐looking statements included in this News Release are made as of the date of
this News Release and the Board undertakes no obligation to publicly update such forward-‐looking
statements, except as required by law. Shareholders are cautioned that all forward-‐looking statements
involve risks and uncertainties and for a more detailed discussion of such risks and other factors that
could cause actual results to differ materially from those expressed or implied by such forward -‐looking
statements, refer to the Company's filings with the Canadian securities regulators available on
www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.