Mundoro Receives New Copper-Gold Project in Serbia
Mundoro Receives New Copper-Gold Project in
Serbia
Vancouver, British Columbia--(Newsfile Corp. - March 30, 2021) -
Mundoro Capital Inc. (TSXV: MUN)
(OTCQB: MUNMF) (
www.mundoro.com
)
("
Mundoro
" or the "
Company
") announces the granting of
a new exploration license totaling 98 sq. km located in the northern portion of the Serbo-Macedonian
Metallogenic Province, which is part of the Tertiary Magmatic Belt in central Serbia and south of the
Rudnik lead-zinc-silver mining district.
Highlights
The license is a copper-gold area totaling 98 sq. km in central Serbia ("GT7 Copper Project",
"Project")
Considered highly prospective for porphyry and related epithermal mineralization
Located 40 km southeast of the Rudnik lead-zinc-silver mining district
At least four historically recorded base metal occurrences within the Project
Historical data collection underway with exploration programs commencing this summer
Further applications have been submitted across key mineralized belts in Serbia
Teo Dechev, CEO and President commented: "
We are delighted to be granted this new copper-gold
project area in Serbia.
GT7 Copper Project contains exposures of diorite porphyry copper-gold type
quartz stockwork mineralization and likely to related precious and base metals veins in surrounding
sedimentary country rocks."
"Our field team will advance exploration in the summer, focusing on the priority targets defined from
initial field reconnaissance.
In the meantime, we will commence marketing the project to potential
partners seeking drill ready targets for copper-gold exploration in a prospective mineral belt in Serbia.
Mundoro has also applied for additional projects in key belts in Serbia to which we await the results of
these applications."
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Project Summary
Project Location
GT7 Copper is located approximately 150km south of Belgrade, the capital of Serbia, and near
Kraljevo and Kragujevac, the largest industrial centers of Serbia (see
Figure 1)
.
GT7 Copper covers 98 sqkm of the northern portion of the Serbo-Macedonian Metallogenic
Province, part of the Tertiary Magmatic Belt.
The Tertiary Magmatic Belt is an emerging belt which is host to several lead-zinc-base metal vein
and carbonate replacement type of deposits with recently recognized potential for porphyry and
epithermal copper-gold deposits.
Project Geology
Geology at GT7 Copper comprises Cretaceous siliciclastic and carbonate sedimentary lithologies
intruded by Tertiary diorites and overlain by andesite porphyry volcanic rocks.
The volcanic-intrusive lithologies form part of the north-northwest striking Tertiary magmatic arc of
Central Serbia. Lead and zinc mineral occurrences are recorded in the area as well as old
workings.
Polymetallic quartz-carbonate veins (including pyrite, sphalerite, galena and rhodochrosite) are
reported to contain some gold grades.
Porphyry style "b" vein stockworks are observed in magnetic diorite to the north. Widely spaced
networks of approximately 1 cm-thick quartz and calcite veins with some coarse
molybdenite are
common in bedded sedimentary lithologies.
Generative Program
Numerous mineral exploration targets have been identified throughout Serbia under the generative
program carried out by the Company.
Targets with indications of copper and/or gold have been prioritized to explore for potential
porphyry copper and related deposits.
GT7 Copper was one of those targets selected for field follow up. Several more targets have been
identified with exploration applications submitted to the Ministry.
Qualified Person
The above technical disclosure in this press release has been reviewed, verified and approved by R.
Jemielita, PhD, MIMMM, a Qualified Person as defined by NI 43-101 and consultant to the Company
.
Mundoro Capital Inc.
www.mundoro.com
Mundoro is a Canadian listed royalty generator company with a portfolio of projects focused on base
and precious metals that generate royalties and near-term mineral revenue.
To drive value for
shareholders, Mundoro has generated a portfolio of mineral projects primarily focused on copper and
gold in Serbia and Bulgaria.
Value generated from our mineral properties is through near term revenues
from various forms of payments from partners and long term through the generated royalties.
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
earn-in expenditures, options and completion of a definitive 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 Company's projects, 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.
Teo Dechev,
Chief Executive Officer, President and Director
+1-604-669-8055
Figure 1 - Map showing location of GT7 Copper on simplified geology and current tenure. Third
party licenses are shown for reference.
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/2408/78942_
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https://www.newsfilecorp.com/release/78942