Wide gold-bearing zones confirmed at Bobija – Here’s how much Australians found, diamond drilling underway

Australian company Middle Island Resources has announced the results of the first phase of drilling at the Bobija polymetallic project in western Serbia near Ljubovija, which confirmed the existence of wide zones of gold, silver, lead and zinc mineralization. The company conducted exploratory drilling using the reverse circulation (RC) drilling method, which is used for the initial assessment of the distribution of mineralization, and the results showed continuous mineralization in multiple wells, with intervals reaching over 50 meters. The best intersections include zones with about 1 to 3 grams of gold per ton of ore, with significant silver contents, as well as lead and zinc percentages that exceed one percent in some places.

These findings build on previously known historical data from Bobija, where surface samples and old drilling in the former barite mine indicated the presence of precious and base metals several decades ago. However, unlike these earlier data, the new drilling program confirms for the first time the continuity of mineralization over a larger area, which is crucial for the assessment of mineral resources.

Experts point out that Bobija does not have the capacity to grow into a project of the level of Cukaru Peki, which is a world-class deposit but at great depths and expensive, while the advantages of the former barite mine are shallower mineralization and potentially lower development costs, which makes it a project suitable for further sale after the first resource assessment.

This is precisely the “prove and sell” model often used by smaller exploration companies such as Middle Island Resources.

As a reminder, Middle Island Resources became the owner of as many as 14 licenses for mineral exploration in Serbia in September this year, on a total of 62,000 hectares, which is more than any other company has in our country.

The licenses cover three main project areas - Bobija, Priboj and Timok - which are primarily focused on gold and copper, but also on silver, lead and zinc.

At the Bobija project, which the Australians first focused on, drilling began in October, and the new owners then stated that the ore deposit is analogous to the Vares mine in Bosnia and Herzegovina in terms of ore richness, and that gold is literally visible on the surface of the old mine.

The next step for the Bobija project will be, according to the latest announcements from the Australian company, a second phase of exploration that includes diamond drilling, with the aim of expanding the mineralization zones and collecting enough data to make an initial estimate of mineral resources. Only then could we speak more precisely about the economic viability of possible exploitation.

B. P.

Middle Island Resources

Bobija

barite mine

gold

gold explorations

diamond drilling