News Feed Item

Mundoro's Trenching at Savinac License Continues to Yield Results

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 01/13/14 -- Mundoro Capital Inc. (TSX VENTURE: MUN)(FRANKFURT: NGU:GR) (www.mundoro.com) ("Mundoro" or the "Company") is pleased to provide an update on its exploration activities at its 100% owned Savinac, Zeleznik and Sumrakovac properties along the Timok Magmatic Complex (TMC). Located in northeast Serbia, the TMC hosts significant gold-copper porphyry and related gold-copper epithermal deposits with the benefit of European infrastructure.

Teo Dechev, President and CEO commented, "We are very pleased to provide investors with an update to our exploration program. At Savinac, we continued trenching at Tilva Rosh, for which we previously reported high grade gold results near surface. The follow up trenches continued to extend the mineralization and the geochemical sampling around the area identified new parallel zones. Our next step at Tilva Rosh will be to drill test at depth. Work at our Zeleznik license, which sits along the same geological and structural setting as the Majdanpek Mine, highlighted two areas with significant Cu-Au-Mo anomalies which are slated for trenching and drilling in 2014. Mundoro has quickly moved along from compiling an extensive property package in the TMC area to defining a number of near surface mineralized zones to now drill testing in 2014". "In parallel to our exploration activity, we continue to evaluate joint venture opportunities for our projects while at the same time evaluating developed assets closer to production."


The soil geochemical campaign highlighted three major mineralized areas:

--  Tilva Rosh to the North,
--  Bukovo in the center, and
--  Markov Kamen to the South.

The high grade gold results previously obtained at Tilva Rosh are controlled by a north-west fault directly related to a gold-in-soil anomaly of 600 m by 170 m. The north-west fault also intersects the north-east structure adding an additional 1200 m by 400 m gold-in-soil anomaly to be followed up in Q1 2014 (Figure 1 - Savinac Gold-in-Soil Geochemical Anomalies, Figure 2 - Tilva Rosh Trench and Rock Results). Follow-up exploration work in 2014 will consist of mapping, trenching along the new parallel zones and drill testing the trenched gold prospect in mid-2014.

The soil sampling comprised 1,679 samples and was designed to cover Savinac's hydrothermal alteration system. The results confirmed the presence of a mineralized structural zone extending over a strike length of more than 7 km identified by soil samples containing greater than 20 parts per billion (ppb) gold associated with Ag, Cu, Mo, Pb, Zn, Sb and As anomalies (Figure 1). This structural zone, marked by intense argillic and advance argillic altered andesite volcanics, contains two major fault directions north-west and north-east.

The gold in-soil anomaly and the initial high grade trench results were followed up by step-out trenches and outcrop rock sampling. The trenches were dug down to bedrock (0.5 to 1.5 m depth), perpendicular to strike of the mineralised structure and the trend of the soil anomaly. Continuous channel samples of up to 2 m long were collected along the base of the trenches.

Selected results are summarized in Table 1. The location of trenches and rock outcrop results are shown on Figures 1 and 2. Table 1: Summary of significant trench results from Tilva Rosh prospect, Savinac license. (Trench results 4, 2 and 1 were previously reported on September 3, 2013)

Trench ID        From (m)    To (m)       (m)  Au (g/t)  Ag (g/t) AuEq (g/t)
T4                      0        12        12     30.39    127.00      32.51
Including               8        12         4     59.34    277.41      63.96
Including              10        12         2     80.70    174.00      83.60
T2                    130       138         8      5.31     21.07       5.66
Including             130       132         2     24.50     17.60      24.79
T1                      0        18        18      2.21     29.00       2.69

T13                    20      30.8      10.8      1.40      7.58       1.53
Including              24        26         2      6.99     21.10       7.34
T6                     25        27         2      1.08     14.20       1.32
T7                     26        38        12      1.05     13.95       1.28
T14                  39.6      43.2       3.6      0.77      6.80       0.88
T5                     12        16         4      0.72      4.40       0.79
T11                    26        30         4      0.71      8.75       0.86
T8                      2         4         2      0.50      2.60       0.54
T12                     0        22        22      0.49      4.27       0.56
Including            17.4        20       3.6      0.65     12.15       0.85
Including              10        12         2      3.47      1.70       3.50
Including               6         8         2      0.67     21.70       1.03
-Weighted average calculated using uncut assays.
-Trench intercepts are sample lengths and further work is required to
 determine true widths.

The results from the soil geochemistry between trenches T13 and T5 identifies a high grade bearing north-west structure. The structural mapping and the soil geochemistry suggests an intersection with the mineralized north-east structure for at least 1200 m. The mineralisation is associated with hydrothermal breccias, quartz veins and veinlets hosted in altered andesite volcanics. The results from all trenches demonstrate that the high grade gold intervals are contained within a wider halo of enhanced gold content.


The Zeleznik license covers 6,026 hectares (60 sq.km.) and is located at the northern part of the Timok Magmatic Complex. The southern portion of this license is along strike and shares the same geological and structural setting as its neighbor, the Majdanpek Copper-Gold porphyry mine, which has a reported resource of 1000 mt @ 0.4-0.8% Cu, 0.25-1 g/t Au (Jelenkovic, 2007).

Mundoro recently completed the stream sediment sampling program on this license and identified five anomalous areas. The Company followed up the anomalies with prospecting, geological mapping, soil and rock geochemical sampling. There were 708 soil samples collected with promising anomalies followed up in further detail. The results highlighted two areas with significant Cu-Au-Mo anomalies. They are located at the southern part of the license, defined by 20-189 ppb gold and 130-2260 parts per million (ppm) copper (Figure 3 - Zeleznik Copper-in-Soil Results, Figure 4 - Zeleznik Gold-in-Soil Results). Both anomalies are centered on andesite porphyry intrusions.

The best copper geochemistry of the western anomaly was obtained within a covered area. A small exposure of copper-bearing magnetite skarn and more widespread marbleized limestone characterize part of the eastern anomaly. The Copper-Gold-Molybdenum geochemical anomalies defined are typical of copper-gold porphyry systems and as such is a positive result to be follow up with further work to determine the source of the anomalies. Follow-up exploration work in 2014 will consist of mapping, trenching, ground magnetic surveys and drill testing the anomalies in H2-2014.


The Sumrakovac License covers 103 sq.km in the southern portion of the Timok Magmatic Complex. The property contains a cluster of underexplored gold-copper porphyry style mineralization. The Company has completed stream sediment screening, a partial reconnaissance mapping as well as rock and soil geochemical sampling.

A ground magnetic survey is underway over the Skorusa porphyry and the adjacent area.

Reconnaissance mapping at the Skorusa porphyry revealed the existence of three dioritic intrusive phases: early, inter-mineral and late-mineral. The early and inter-mineral phases are both potassic altered, contain approx. 5 volume % of magnetite and are cut by chalcopyrite-bearing A-type quartz veinlets. Veinlet intensity and observed chalcopyrite contents are higher in the early mineral phase. Rock sampling of the quartz veining returned:

--  23m @ 0.72 g/t Au and 1670 ppm Cu (1.03 g/t AuEq); including single 2 m
    samples with up to 1.64 g/t Au and 0.3% Cu (2.20 g/t AuEq).

Soil surveys confirmed a Copper-Gold-Molybdenum geochemical anomaly related to the outcropping porphyry mineralisation and delineated a 700 m by 400 m copper-gold anomalous area which needs to be followed up by trenching and drilling. The molybdenum anomaly covers an area of 1500 m by 600 m and is open to the north. The soil survey also highlighted additional anomalous centers to the east of Skorusa porphyry which will require further in-fill sampling and trenching (Figure 5 - Sumrakovac Copper-in-Soil Results, Figure 6 - Sumrakovac Gold-in-Soil Results, Figure 7 - Sumrakovac Molybdenum-in-Soil Results).

Sampling and Analysis

All trench intercepts were obtained from continuous channel sampling at 2 m intervals. All samples are assayed using 50 gram fire assay with atomic absorption finish by ALS Bor, Serbia. Quality Assurance and quality control procedures include the systematic insertion of standards and duplicates into the sample streams. Field duplicate samples are taken every 25 samples and standards and blanks are inserted after every 20th sample. All data collected in the field and assay results from the laboratories are routinely verified and entered in an Access data base.

Soil samples were collected from "B" horizon of the soil media by hand digging a hole from 0.1 to 0.5m. Material of approx. 500 grams was collected, sealed and send directly to the ALS laboratory in Bor. Samples were dried at less than 60 degrees C/140F, sieve sample to -180 micron (80 mesh) and assayed using 30 gram fire assay with atomic absorption finish.

Gold Equivalent ("AuEq.") is calculated using the formula AuEq = (g/t/Au) + (g/t/Ag) + ($/ozAu)/60. Metal prices used are: copper price of US$3.25/lb, gold price of US$1200/oz, silver price US$20/oz or 60 silver ounces per one gold ounce.

The technical information contained in this Press Release has been reviewed and approved by Mr. G. Magaranov, P. Geo., the Qualified Person as defined by National Instrument 43-101.

On behalf of the Company,

Teo Dechev, Chief Executive Officer, President and Director

About Mundoro Capital Inc.

Mundoro is a well-funded, Canadian based, company focused on mineral acquisition, exploration, and development. Our primary focus is advancing our properties on the Tethyan Belt in Southeastern Europe. Mundoro has methodically acquired a district-scale land position on this prolific mineral belt which hosts significant Gold-Copper porphyry and related epithermal deposits. Our strong project pipeline, which also includes assets in Mexico and China, is positioned to drive long-term, sustainable growth in order to attain production and shareholder return.

Caution Concerning Forward-Looking Statements

Information included, attached to or incorporated by reference into this News Release may contain forward-looking statements. All statements, other than statements of historical fact, included or incorporated by reference in this News Release are forward-looking statements, including, without limitation, statements regarding activities, events or developments that the Board expects or anticipates may occur in the future. These forward-looking statements can be identified by the use of forward-looking words such as "will", "expect", "intend", "plan", "estimate", "anticipate", "believe" or "continue" or similar words or the negative thereof. The material assumptions that were applied in making the forward looking statements in this News Release include expectations as to the Company's future strategy and business plan and execution of the Company's existing plans. There can be no assurance that the plans, intentions or expectations upon which these forward-looking statements are based will occur. We caution readers of this News Release not to place undue reliance on forward looking statements contained in this News Release, which are not a guarantee of performance and are subject to a number of uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include general economic and market conditions, changes in law, regulatory processes, the status of Mundoro's assets and financial condition, actions of competitors and the ability to implement business strategies and pursue business opportunities. The forward-looking statements contained in this News Release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this News Release are made as of the date of this News Release and the Board undertakes no obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise, except as required by law. Shareholders are cautioned that all forward-looking statements involve risks and uncertainties and for a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to the Company's filings with the Canadian securities regulators available on www.sedar.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Mundoro Capital Inc.
Teo Dechev
CEO, President and Director

Roth Investor Relations
Michelle Roth

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
In his general session at 18th Cloud Expo, Lee Atchison, Principal Cloud Architect and Advocate at New Relic, discussed cloud as a ‘better data center’ and how it adds new capacity (faster) and improves application availability (redundancy). The cloud is a ‘Dynamic Tool for Dynamic Apps’ and resource allocation is an integral part of your application architecture, so use only the resources you need and allocate /de-allocate resources on the fly.
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
In the next five to ten years, millions, if not billions of things will become smarter. This smartness goes beyond connected things in our homes like the fridge, thermostat and fancy lighting, and into heavily regulated industries including aerospace, pharmaceutical/medical devices and energy. “Smartness” will embed itself within individual products that are part of our daily lives. We will engage with smart products - learning from them, informing them, and communicating with them. Smart produc...
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
In his keynote at 19th Cloud Expo, Sheng Liang, co-founder and CEO of Rancher Labs, will discuss the technological advances and new business opportunities created by the rapid adoption of containers. With the success of Amazon Web Services (AWS) and various open source technologies used to build private clouds, cloud computing has become an essential component of IT strategy. However, users continue to face challenges in implementing clouds, as older technologies evolve and newer ones like Docke...
WebRTC sits at the intersection between VoIP and the Web. As such, it poses some interesting challenges for those developing services on top of it, but also for those who need to test and monitor these services. In his session at WebRTC Summit, Tsahi Levent-Levi, co-founder of testRTC, reviewed the various challenges posed by WebRTC when it comes to testing and monitoring and on ways to overcome them.
In his session at 19th Cloud Expo, Claude Remillard, Principal Program Manager in Developer Division at Microsoft, will contrast how his team used config as code and immutable patterns for continuous delivery of microservices and apps to the cloud. He will show the immutable patterns helps developers do away with most of the complexity of config as code-enabling scenarios such as rollback, zero downtime upgrades with far greater simplicity. He will also have live demos of building immutable pipe...
Rapid innovation, changing business landscapes, and new IT demands force businesses to make changes quickly. In the eyes of many, containers are at the brink of becoming a pervasive technology in enterprise IT to accelerate application delivery. In this presentation, you'll learn about the: The transformation of IT to a DevOps, microservices, and container-based architecture What are containers and how DevOps practices can operate in a container-based environment A demonstration of how Docke...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
SYS-CON Events announced today that Coalfire will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Coalfire is the trusted leader in cybersecurity risk management and compliance services. Coalfire integrates advisory and technical assessments and recommendations to the corporate directors, executives, boards, and IT organizations for global brands and organizations in the technology, cloud, health...
@ThingsExpo has been named the Top 5 Most Influential M2M Brand by Onalytica in the ‘Machine to Machine: Top 100 Influencers and Brands.' Onalytica analyzed the online debate on M2M by looking at over 85,000 tweets to provide the most influential individuals and brands that drive the discussion. According to Onalytica the "analysis showed a very engaged community with a lot of interactive tweets. The M2M discussion seems to be more fragmented and driven by some of the major brands present in the...
So you think you are a DevOps warrior, huh? Put your money (not really, it’s free) where your metrics are and prove it by taking The Ultimate DevOps Geek Quiz Challenge, sponsored by DevOps Summit. Battle through the set of tough questions created by industry thought leaders to earn your bragging rights and win some cool prizes.
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
The Internet of Things (IoT), in all its myriad manifestations, has great potential. Much of that potential comes from the evolving data management and analytic (DMA) technologies and processes that allow us to gain insight from all of the IoT data that can be generated and gathered. This potential may never be met as those data sets are tied to specific industry verticals and single markets, with no clear way to use IoT data and sensor analytics to fulfill the hype being given the IoT today.