Middle Island confirms significant copper mineralization near Priboj - Drilling to continue

Australian mining company Middle Island Resources, which took over 14 licenses for mineral exploration in Serbia in September last year, has announced that it has identified significant copper anomalies at its Priboj project in western Serbia, indicating the presence of mineralization that could potentially develop a larger ore deposit.

Surface surveys and soil sampling have shown elevated copper values at priority locations, particularly at the Jelaca prospect and the Oglavak deposit. Specifically, in soil samples at Jelaca, copper reached values of over 558 ppm, and in rock samples concentrations of up to about 0.99% Cu were found. These are high values for surface surveys, enough for geologists to assess that the area has serious potential and to justify further drilling.

The company's CEO, Peter Spiers, said that those results provided evidence of ancient submarine volcanic activity in the area.

The discovery comes after Middle Island began drilling at the Bobija mountain, a former barite mine, last year, and found extensive gold-bearing zones there.

With the acquisition of Australian company Konstantin Resources, Middle Island gained control of a portfolio that combines historical mining results with new, unexplored locations. The acquisition included three key project areas: Bobija, Priboj and Timok, all located in a promising geological belt rich in copper and gold, known as the Western Tethyan Ore Belt. The licenses cover a total area of 62,000 hectares.

With Priboj showing the potential to become a new significant copper discovery in Serbia, the company has announced that it will begin the first targeted drilling on the priority target – the Jelaca prospect – in the second quarter of 2026, as part of the preparation for the first resource estimate.

At the same time, Middle Island will continue to conduct additional soil and rock sampling at other deposits within the Priboj project, with the aim of identifying new drilling targets.

Results from drilling at the Bobija project have also been announced for this year, as well as gold results from the Ober and Brodica licenses. The Ober deposit, within the Priboj project, previously showed elevated gold and silver grades (up to 1.85 g/t gold and 3.4 g/t silver), while a long zone of gold anomalies in the soil, approximately 4 km long, was identified at the Brodica deposit within the Timok project, with results up to 134 g/t gold and significant amounts of silver.