Mundoro Capital Inc (CVE:MUN) has unveiled encouraging drill results from the Tilva Rosh prospect in Serbia, which continued the trend of previously identified mineralisation.
The second phase work at the site consisted of 14 reverse circulation (RC) holes totalling 1,144 metres (m) to test the extent of the previously identified gold mineralization laterally, along strike and at depth.
-
READ THE BIG PIC- Mundoro on the hunt for large copper-gold projects in south-eastern Europe
-
READ - Mundoro Capital doubles size of copper and gold anomolies at Zeleznik property
Highlight results included 6 metres at 2.56 g/t gold equivalent and 1.86% copper equivalent.
The latest drilling was a follow-up to a discovery trench, which contained a 12 metre interval of 30 grams per tonne (g/t) gold and 171 g/t silver, and to the initial drill testing of this area.
Previous exploration had successfully demonstrated a gold system associated with three identified structures and identified a large intact lithocap extending approximately 650 m to the north of the current drilling for follow-up exploration.
Mundoro told investors: "Phase II results support the continuation of the main north-south-trending mineralized structure over a length of at least 250 metres.
"The surface trace of the structure strikes toward the north and under the lithocap.
"The lithocap appears to be displaced by late east-west faults resulting in uplifting the southern portion and uncovering Tilva Rosh mineralization."
The firm added that the Tilva Rosh lithocap was zinc free but bordered by a prominent (100 to 600 parts per million) zinc anomaly reminiscent of the zinc distribution in porphyry copper systems.
Shares in Toronto added over 3% to 17 cents each.