Australian miners find gold and silver at a meter depth at Bobija – Connected vein of 80,000 m2 discovered, digging continues

Australian mining company Middle Island Resources (ASX: MDI) has announced the official results of the second phase of exploration drilling at the Bobija project near Ljubovija, confirming the discovery of a large and shallow system rich in gold, silver and non-ferrous metals, which currently covers an area of 80,000 square meters.

The latest drilling has successfully connected three previously separate zones - Central, Northern and Western - into one continuous, massive mineralized system. Most importantly for investors, the boundaries of this system have not yet been found, as the deposit is still open to expansion to the east and west.

Although historical work at this site in western Serbia has focused mainly on the exploitation of lead, zinc and barite, new research shows that precious metals are actually a key component of this system. It is particularly significant that the rich ore is found at the surface. Analysis of laboratory samples has shown that wells at a depth of only one meter record extremely high concentrations of metals. For example, the Central Zone site recorded the presence of 1.23 grams of gold and as much as 64 grams of silver per ton of ore, with significant percentages of copper, lead and zinc.

– Bobija is rapidly developing into a large, shallow gold and silver discovery. Each zone we have drilled has yielded extensive mineralization near the surface, and the boundaries of this system have yet to be determined – said the company’s former CEO, Peter Spiers.

The entire project includes five exploration licenses covering a total of 182 square kilometers. The Australian company has a ten-year option agreement to take over two mining licenses from the domestic company Bobija d.o.o. Ljubovija. Under the agreement, the local partner will be entitled to a fee of 0.5% of the net revenue from the smelter, with a maximum payout of EUR 500,000.

Middle Island Resources has already begun planning a third drilling phase to test the northern and southern edges of this rich site. The full details and potential of this deposit in Serbia will be officially presented to global investors at the upcoming mining conference in Australia at the end of July.

B. Petrovic

Bobija doo Ljubovija

Middle Island Resources

Bobija doo Ljubovija

Bobija

Peter Spiers

gold and silver explorations