Canadian Mundoro starts drilling at new Timok location, Australian giant funds exploration

Canadian company Mundoro Capital Inc. has started exploration drilling at the Skorusa East site as part of the Central Timok project, the company announced.

The work is being carried out within the Timok magmatic complex, one of the most promising mining regions in Europe, and about 1,000 meters of drilling is planned through one to two wells.

The exploration is part of a previously signed agreement with Australian mining giant BHP, which is fully financing the activities through the so-called earn-in model, with the possibility of acquiring a stake in the project in case of positive results.

Skorusa East is located about five kilometers southwest of the Bor mining complex and four kilometers west of the Cukaru Peki mine.

The goal of the current campaign is to test the eastern part of the mineralization zone, where geochemical anomalies, hydrothermal rock alterations and corresponding magnetic signals characteristic of porphyry copper and gold systems were previously identified.

Previous drilling at the nearby Skorusa West site confirmed a broad zone of mineralization, including sections grading 0.11% copper and 0.11 grams of gold per ton of ore over a length of more than 200 meters, indicating the potential of a larger mining system. Upon completion of the work, the drill rig will be moved to another priority target – Tilva Rosh South.

As eKapija already wrote in early March, Mundoro has formed a land package of approximately 940 square kilometers in the Timok region, where it has signed several option agreements with BHP covering the entire area. The plan is to conduct systematic and continuous drilling on defined targets throughout the year.

The focus of exploration is primarily on copper deposits, with the presence of gold, and this region has already confirmed significant potential through the discoveries and development of large mines in previous years.

B. P.

Mundoro Kanada

BHP Metals Exploration d.o.o. Beograd

Mundoro

BHP

Timok project

Skoruša East

Skoruša West

Tilva Rosh South

copper and gold explorations

drilling campaign