Drill Program On The Vale Projects In Timok Region Of Serbia

VANCOUVER - Mundoro Capital Inc. reported the commencement of a drill program at the Mundoro-Vale optioned projects located in the south central Timok Magmatic Complex in Serbia. The drill program is planned for 4,000 meters to test 3 target areas with 5 drill holes. The porphyry copper-molybdenum-gold targets selected for drill testing are located in the southern portion of Timok and south-west of the Bor mining complex. Timok is one of the most prolific metallogenic domains in the western portion of the Tethyan Belt and is host to the Cukaru-Peki mine, which is a high sulphidation epithermal copper-gold and porphyry copper deposit, the Bor underground mine which is a copper-gold porphyry, and the Veliki Krivelj and Majdanpek open-pit mines which are both copper-gold porphyries.

Tilva Rosh exploration mapping and drilling to date confirmed advanced argillic alteration within a broad litho-cap with epithermal gold mineralization and copper-gold-molybdenum geochemical anomalies at surface extending over an area of 3.6 km x 1.2 km in size. Signs of down dip alteration to the west was identified in the drill core from the prior drilling campaign in Q4-2019. High-temperature advanced argillic alteration identified at the bottom of one of the nearest drill holes is suggestive for potential hydrothermal fluid up-flow zone. Two drill holes will test the northern portion of Tilva Rosh, targeting the base of the litho-cap as supported by both recent geophysics interpretation of IP, CSAMT and magnetics data as well as potassic alteration identified in a prior drill hole.

Markov Kamen is located directly south of Tilva Rosh, Markov Kamen is a large area of silicification covering 3.2 km x 500 m, hosts a significant hydrothermal breccia with anomalous gold grade, and is open to the west and at depth. High-grade copper and gold grades received from sampling old workings contain hypogene chalcocite at the southern edge of the target area. Based on geophysics, the target to be drill tested is interpreted as a root of an advanced argillic alteration zone. The presence of zunyite and topaz in some of the previously completed drill holes is an indicator of proximity to a porphyry with the potential hydrothermal fluid up-flow zone. Two drill holes will test the central and southern portions of Markov Kamen, targeting (i) a deeper root of a CSAMT anomaly and (ii) a shallower IP anomaly as follow up drilling from previously drilled diamond drill holes.

Located south-southwest of the Markov Kamen target area is the Bacevica North target that was recently identified comprising of a strong IP anomaly and intense quartz-sericite-pyrite altered andesite at surface. One reconnaissance drillhole is planned to test the IP anomaly which is supported by the encouraging geochemical sampling results and surface mapping completed during the current field season.