Terra Balcanica Resources Corp. (CSE:TERA) is thrilled to share promising high-grade assay results from the Phase III drill campaign at the Cumavici Ridge polymetallic, epithermal vein zone, part of its key Viogor-Zanik project in eastern Bosnia and Herzegovina.
CEO Dr. Aleksandar Mišković stated, “Terra continues to demonstrate the value of our flagship shallow, fault-hosted, epithermal system. The drill intercepts include individual samples showing up to 7.23% Sb, 23.4% Zn, 3.69 g/t Au, and 420 g/t Ag, alongside 12.5% Pb, highlighting the remarkable base and precious metal potential at Cumavici Ridge. We will proceed with drilling, focusing on extending the system westward and down dip, as we aim to enhance our portfolio of critical metals. Our assets are strategically located near existing Sase mine infrastructure and adjacent to European markets, making us an appealing investment opportunity.”
Table 1: Assay results from drillholes CMV25003 and CMV25004 with interval lengths reported as drilled lengths, not true widths, due to the unverified true morphology of the mineralized zone. Silver equivalents (AgEq) are calculated using assumed metal prices of US$4,950/oz for gold (Au), US$77/oz for silver (Ag), US$1.49/lb for zinc (Zn), US$21/lb for antimony (Sb), and US$0.86/lb for lead (Pb). We applied assumed metal recoveries of 90% Au, 93% Ag, 95% Sb, 94% Pb, and 94% Zn to all laboratory assays based on recent metallurgical tests from similar polymetallic deposits in Bosnia.
Figure 1: Photograph of PQ3 diameter core between 61.0 and 66.70 downhole in CMV25004. Massive, dark sulphide intervals correlate with Ag-Sb mineralization, while the banded honey brown segment in the upper core box indicates a Zn-Pb rich zone.
The mineralization identified in drillholes CMV25003 and CMV25004 exemplifies the typical high-grade, massive sulphides of polymetallic nature at the Cumavici target. This region showcases a series of underexplored polymetallic veins that are part of a larger NW/SE trending epithermal system. The mineralization is characterized by massive sulphides, predominantly silver-antimony rich, along with a colloform banded orange-purple zinc-lead interval comprised of massive sphalerite-galena.
Table 2: Collar location and DDH data for CMV25003/CMV25004 drillholes (WGS84/UTM 34N).
Figure 2: Geological map illustrating the drillholes at the Cumavici Ridge locality. AgEq values are labeled for selected 2022 and 2023 drill intercepts (See the Company’s news releases dated 13 November 2023 and 27 February 2023. The coordinate reference system is WGS84/UTM Zone 34N).
The Cumavici license is characterized by volcanic rocks (tuffs and pyroclastic breccias) intersected by generally NW-SE trending structures, forming part of a vast epithermal mineral system. The mineralization is dominated by silver and antimony, with additional gold-lead-zinc content.
So far, Terra’s drilling has confirmed three polymetallic systems: Joseva, Cumavici Crest, and the flagship vein system at Cumavici Ridge. The Cumurnica and Kazani targets remain to be explored. The mineralization is identified by sphalerite-stibnite-galena and various sulphosalts, often associated with quartz and calcite veining and breccia cement. This mineralization occupies faults that appear on the surface as distinctive topographic lows, coinciding with magnetic lows, with visible mineralization often present within fault gouge.
QA/QC: Half PQ3 core samples were sent to ALS Bor, Serbia for sample preparation and analysis at the ALS laboratory in Loughrea, Ireland, an ISO/IEC 17025:2017 certified testing facility. All core samples underwent the PREP-31BY preparation method, which involves crushing to 70% less than 2 mm, rotary splitting 1kg, and pulverizing the split to greater than 85% passing 75 microns. Gold was analyzed using a 30g fire assay with ICP-AES finish (Au-ICP21). Silver and base metals were analyzed through highly oxidizing digestion with HNO3, KClO3, and HBr (ASY-ORE), with the final solution determined by ICP-AES (ME-ICPORE). Control samples, including certified reference materials (CDN-ME-1811), duplicates, and blanks, were inserted at a rate of 17% as part of the company’s quality assurance and quality control program.
Qualified Person: Dr. Mišković, the President and CEO of Terra Balcanica, serves as the Company’s designated Qualified Person under National Instrument 43-101 Standards of Disclosure of Mineral Projects (“NI 43-101”). He supervised the preparation of the information included in this news release and confirmed its factual accuracy.
About the Company: Terra Balcanica is focused on polymetallic and energy metals exploration, targeting large-scale mineral systems in the Balkans of southeastern Europe and northern Saskatchewan, Canada. The Company holds a 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina. The Canadian assets owned by its subsidiary, Terra North Resources Corp., consist of a 100% optioned portfolio of uranium-prospective licenses at the outskirts of the renowned Athabasca basin, including Charlot-Neely Lake, Fontaine Lake, Snowbird, and South Pendleton. The Company prioritizes responsible engagement with local communities and stakeholders, committing to Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management.
For more information about this news release, please contact Aleksandar Mišković at amiskovic@terrabresources.com, +1 (514) 796-7577, or visit www.terrabresources.com/en/news.
Note: This news release contains forward-looking information and statements under applicable securities legislation. Terms like “will,” “intends,” and similar expressions indicate forward-looking statements that involve risks and uncertainties that could lead to actual results differing materially from those anticipated. Actual outcomes may vary due to various factors. Terra Balcanica believes that the expectations reflected in these forward-looking statements are reasonable, but there is no assurance that these expectations will be realized. The Company does not undertake to update these forward-looking statements except as required by law.