Marketwire
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 3, 2013) - Mundoro Capital Inc. (TSX VENTURE:MUN) (www.mundoro.com) ("Mundoro" or the "Company") is pleased to provide an update on its exploration activities at the 100% owned Savinac property within the Timok Magmatic Complex (TMC) in northeast Serbia. The TMC hosts significant Cu-Au porphyry and related Cu-Au epithermal deposits.
Detailed mapping and rock sampling have been completed over the Savinac license at the southern end of the TMC. Following up on an assay result of 8.19 g/t Au from a grab rock sample collected during geological mapping at the Tilva Rosh prospect within the Savinac license, the Company conducted a trenching program over the anomalous area (Figure 1). First assay results received from the trenching at Tilva Rosh highlighted high grade mineralized intercepts in three trenches:
- Trench 4 - 12m @ 30.39 g/t Au and 171.27 g/t Ag
- Trench 2 - 8m @ 5.31 g/t Au and 21.07 g/t Ag
- Trench 1 - 18m @ 2.21 g/t Au and 29 g/t Ag
Table 1: Initial Trench Results from Tilva Rosh
| Trench ID |
|
From (m) |
|
To (m) |
|
Interval (m) |
|
Au (g/t) |
|
Ag (g/t) |
| TRTR 04 |
|
0 |
|
12 |
|
12 |
|
30.39 |
|
127.00 |
| |
including |
|
8 |
|
12 |
|
4 |
|
59.34 |
|
277.41 |
| |
including |
|
10 |
|
12 |
|
2 |
|
80.7 |
|
174 |
| TRTR 02 |
|
130 |
|
138 |
|
8 |
|
5.31 |
|
21.07 |
| |
including |
|
130 |
|
132 |
|
2 |
|
24.5 |
|
17.6 |
| TRTR 01 |
|
0 |
|
18 |
|
18 |
|
2.21 |
|
29.00 |
| -Weighted average calculated using uncut assays. |
| -Trench intercepts are sample lengths and further work is required to determine true widths. |
Teo Dechev, President and CEO commented, "We are very pleased to see the grade and widths of gold mineralization in our first Tilva Rosh trenches at the Savinac license. We will continue to explore this prospective area, as well as the Markov Kamen prospect further south in the same license. In addition, the Company's first scout drill program is continuing at our 100% owned Borsko Jezero property where we expect to announce results in the fourth quarter of 2013. This is an exciting time for our shareholders."
The Tilva Rosh epithermal system is expressed on the surface with a large area of advanced argillic alteration covering 4 km by 1 km in size and is part of the Savinac mineralized belt (9 km by 2 km), which also includes the Markov Kamen prospect (See Figure 1), entirely within Mundoro's 100% owned Savinac license. The highest grade results are related to a NNW oriented mineralized structure controlling massive gossan-silica hydrothermal breccia, vuggy quartz and quartz veins. The mineralized intervals are open to the north and south and need further exploration in all directions. Additional trenching to follow-up continuation of the mineralized feeder structure is underway.
Sampling and Analysis
All trench intercepts were obtained from continuous channel sampling at 2m intervals. All samples are assayed using 50 gram fire assay with atomic absorption finish by ALS Romania. Quality assurance and quality control procedures include the systematic insertion of standards and duplicates into the sample streams. Field duplicate samples are taken every 25 samples and standards and blanks are inserted after every 20th sample. All data collected in the field and assay results from the laboratories are routinely verified and entered in an Access data base.
The technical information contained in this Press Release has been reviewed and approved by Mr. G. Magaranov, P. Geo., the 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
Information included, attached to or incorporated by reference into this News Release may contain forward looking statements. All statements, other than statements 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-looking words such as "will", "expect", "intend", "plan", "estimate", "anticipate", "believe" or "continue" 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 statements contained in this News Release, which are not a guarantee of performance and 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, 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 to reflect new information, subsequent events or otherwise, 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.