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
info@mundoro.com
Figure 1 - Map showing location of GT7 Copper on simplified geology and current tenure. Third party licenses are shown for reference.
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