Terra Balcanica Intersects 0.61 g/t Gold Equivalent Over 88.0 m From Surface At Brezani Discovery, Viogor-Zanik in
[PRESSWIRE]
Highlights
Another Viogor-Zanik discovery: the Brezani target maiden drillholes intercepted61 g/t AuEq over 88.0 m (BREDD002) and 0.58 g/t AuEq over 28.6 m (BREDD001); both drillholes encountered gold mineralization from surface confirming the extension of the 32 m at 0.54 g/t AuEq interval detected by trenching 65 m southeast of the drillhole collars (see Company news release from
Expanding district-scale polymetallic footprint: Viogor-Zanik now features 3 styles of mineralization with 7 metals; the Brezani gold bearing system sits 12 km southeast of the high-grade, polymetallic Cumavici discovery (see Figure 1) which intercepted:
2 g/t AgEq. over 4.0 m including 1634.4 g/t AgEq. over 2.0 m
1 g/t AgEq. over 2.0 m
5 g/t AgEq. over 8.7 m including 1196.6 g/t AgEq. over 2.0 m (see Company news releases from
Open at depth with favorable lithologies: BREDD002 terminated in elevated gold mineralization at 215 m depth; the Company interprets the elevated gold at the end of the drillhole to be associated with another mineralized zone and silica-chlorite-sericite altered intrusive lithologies downhole highlight the potential for porphyry style mineralization which will require further drill testing (see Figure 3);
Exploration upside: gold-bearing target at Brezani coincides with a resistive volume of rock above a large conductivity anomaly (> 600 m wide, > 60 mS/m) interpreted to represent porphyry style mineralization (see Figure 3), which remains untested.
Terra Balcanica President and CEO, Dr.
Drill Results
Drillhole From (m) To (m) Length (m) Au (g/t) Ag (g/t) Cu (%) Zn (%) AuEq (g/t)
BREDD001 0.0 28.6 28.6 0.53 0.32 0.03 0.06 0.58
Including 20.1 25.8 5.7 1.24 0.33 0.03 0.10 1.27
BREDD002 0.0 88.0 88.0 0.50 0.37 0.03 0.19 0.61
Including 10.3 16.5 6.2 1.01 0.22 0.03 0.04 1.01
Including 32.0 38.0 6.0 1.50 1.18 0.07 0.72 1.90
Including 45.0 53.0 8.0 0.77 1.32 0.11 0.75 1.27
Table 1. Assay results of key mineralized intervals for diamond drillholes BREDD001 and BREDD002. Interval lengths reported are drilled lengths and not true widths. AuEq calculation assumes metal prices of
Figure 1. Terra Balcanica's 216 km2 Viogor-Zanik project in eastern
Brezani is located 8.4 km south of the Mineco Ltd.
Drillhole BREDD001 was terminated at 28.6 m depth due increased levels of core loss. The core returned 28.6 m at 0.58 g/t AuEq from surface. The lithologies intercepted were strongly oxidized diorites and hydrothermal breccias, ending in a calc-silicate hornfels. Au contents of up to 1.9 m at 2.46 g/t Au are observed in hydrothermal breccias of dioritic intrusive rocks, apopheses of an underlying pre/inter-mineral intrusion.
Figure 2. Geological map highlighting the 1.2km wide, 95th percentile magnetic anomaly at the Brezani target. The strongest magnetic response remains untested at depth, however correlates to Au in surface trenches, quartz vein bearing sericitized diorites and calc-silicate altered hornfels with elevated concentrations of proximal pathfinder elements (Bi-Te) from soil geochemistry. Distal zonation sees strong argillic alteration and a Zn-Mn geochemical halo. (Click here to view image)
Drillhole BREDD002 was designed as a subsequent hole to BREDD001 to test the resistive hanging wall existing below the exposed calc-silicate hornfels. The drillhole collar was centered on an 850 m wide Au in soil anomaly and located 65 m NW from the previously completed exploratory trenches that yielded 32 m at 0.54 g/t AuEq (
Figure 3. Conductivity profile of the Brezani target with >95th percentile magnetic anomaly. BREDD002 tests the resistive volume above an abrupt change into coincident high magnetic and elevated electrical conductivity response below 300 m depth which culminates at >60 mS/m at 450 m of depth. Dashed line represents distance from the end of BREDD002 to the top of conductor. (Click here to view image)
The sulphides encountered at Brezani are characterised by both disseminated and intervals of semi-massive sphalerite-chalcopyrite (Figure 4). Pyrrhotite is the dominant iron sulphide, with pyrite uncommon. The gold is controlled by lithology and associated with skarns, calc-silicate hornfels and specific intrusive phases. Quartz veins host pyrrhotite, sphalerite, chalcopyrite and molybdenite. A less reactive hornfels is present between 87.2 and 199 m depth but silicified diorite reappears between 214 and 215 m depth where the drillhole ended in Au mineralization returning 0.26 g/t Au.
Intermediate sulphidation veins were observed at 156 m and 168 m downhole returning 1.0 m at 0.39 g/t Au and 1.0 m at 0.34 g/t Au, 12.1 g/t Ag, respectively. The presence of these veins confirms another mineralization style within the broad porphyry (Cu) model. Mineralogy is varied with pyrrhotite, pyrite, sphalerite, galena, arsenopyrite and bismuthinite present within fault hosted, quartz-carbonate veins (Figure 5).
Figure 4. Retrograde skarn with sphalerite-chalcopyrite at 37.5 m (2.74 g/t Au). (Click here to view image)
Figure 5. Intermediate sulphidation veins in silicified hornfels of BREDD002. (Click here to view image)
Hole ID Easting Northing Elevation Dip Azimuth Depth (m) Recovery (%)
BREDD001 368461.4 4880027.0 872.5 -70 336 28.6 73.1
BREDD002 368460.7 4880028.8 872.4 -70 336 215.0 96.0
Table 2. Collar location and core recoveries for diamond drillhole BREDD001 and BREDD002 (UTM; WGS84). BREDD001 drillhole experienced a cumulative core loss of 2.0 m between 14.9-15.4 m, 16.3-16.9 m, 19.6-20.1 m, and 25.8-26.2 m, while BREDD002 experienced core loss of 0.8 m between 24.0-24.8m.
The Brezani target bears lithological similarities with the
Further Drilling: The coincident strong magnetic and conductivity anomalies (> 60 mS/m) below the resistive surface shell at Brezani remains untested and presents a promising target for increased, interconnected sulphide content characteristic of mineralized porphyry shells (Figure 3), which will be the Company's priority during the 2023 drilling campaign. Follow up will be undertaken from other locations within the Au-in-soil anomaly to assess lithological variability and grade of the Au skarn along strike. Additional drilling will test Au anomalous rock chips within argillically altered volcanics and hydrothermal breccias thus offering a chance for testing multiple styles of mineralization within a broad porphyry model.
Note 1: https://www.dundeeprecious.com/English/Corporate-News/press-release-details/2023/Dundee-Precious-Metals-Announces-Discovery-of-Significant-High-Grade-Deposit-at-oka-Rakita-Results-Include-Drill-Intercept-of-40-metres-at-63.6-gt-Au-and-0.11-Cu/default.aspx
QA/QC
Half core (PQ3 and HQ3) samples were delivered to ALS Bor,
Qualified Person
Dr.
About the Company
Terra Balcanica is a polymetallic exploration company targeting large-scale mineral systems in the Balkans of southeastern
ON BEHALF OF THE BOARD OF DIRECTORS
President and CEO
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Cautionary Statement
This news release contains certain forward-looking information and forward-looking statements within the meaning of the applicable securities legislation (collectively "forward-looking statements"). The use of any of the words "will", "intends" and similar expressions are intended to identify forward-looking statements. These statements involve both known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such forward-looking statements should not be unduly relied upon. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.
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