Terra Balcanica Resources Corp’s Phase II drill campaign at Cumavici Ridge has confirmed high-grade epithermal vein mineralisation at the Viogor-Zanik project.
Terra Balcanica, a polymetallic exploration company focusing on large-scale mineral systems in the Balkans of southeastern Europe, has revealed the conclusive geochemical assay results from the Phase II drill campaign at Cumavici Ridge.
Terra Balcanica holds a 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina, along with full ownership of the Kaludra and Ceovishte mineral exploration licenses in southern Serbia.
Emphasising responsible engagement with local communities and stakeholders, the company is dedicated to adhering to Good International Industry Practice (GIIP) and implementing sustainable health, safety, and environmental management practices.
Highlights of Phase II drill campaign
Drillhole CMV23001 intersected 551 g/t AgEq over 4.8 m from 11 m downhole, with an additional mineralised interval of 669 g/t AgEq over 0.3 m from 31.60 m (Table 1).
The CMV23001 drillhole is situated on the same platform as CMV23002b, which previously reported 499 g/t AgEq over 3.8 m from 22 m downhole.
Mineralisation at Cumavici Ridge remains open and untested immediately northwest and down-dip to the southwest, providing ample opportunities for further exploration. These areas will be targeted in the upcoming 2024 Phase III drill programme.
Additional assay results from the 2023 Phase II drilling programme are forthcoming. This includes findings from four shallow drillholes at the Brezani Au skarn, aiming to extend the previously reported 88.0 m at 0.61 g/t AuEq from the surface.
Terra Balcanica CEO, Dr Aleksandar Mišković, commented: “Terra keeps on confirming average grades of over 500 g/t Ag Eq and average mineralisation thicknesses of approximately 5-10 m of massive sulphides and associated Ag-Sb-Pb-Zn-Au mineralogy at Cumavici Ridge which is only one of six target zones along the 7.2 km corridor of vein-hosted epithermal mineralisation.
“This zone is de-risked by drilling shallow, high-grade silver mineralisation at both the Cumavici Ridge and Joseva targets over 2.3 km apart. We are very excited to carry on adding to the existing mineralised horizon at Cumavici Ridge by testing it down dip to SW as well as along strike to NW while expanding the drill campaign to Cumurnica and two other targets along the corridor in 2024.”
| Hole ID | From
(m) |
To
(m) |
Length
(m) |
Ag
(g/t) |
Au
(g/t) |
Pb
(%) |
Sb
(%) |
Zn
(%) |
AgEq
(g/t) |
| CMV23001 | 11.00 | 15.80 | 4.8 | 132 | 1.61 | 0.57 | 1.56 | 1.51 | 551 |
| CMV23001 | 31.60 | 31.90 | 0.3 | 106 | 0.47 | 0.28 | 3.22 | 1.00 | 669 |
Table 1. Assay results from drillhole CMV23001 of the Phase II drilling campaign. Interval lengths reported are drilled lengths, not true widths. Silver equivalent (“AgEq”) is based on assumed metal prices of US$1,980/oz for gold (Au), US$23/oz for silver (Ag), US$1.15/lb for zinc (Zn), US$5.42/lb for antimony (Sb) and US$1.00/lb for lead (Pb). Assumed metal recoveries of 90% Au, 93% Ag, 95% Sb, 94% Pb and Zn are based on published metallurgical tests on analogous intermediate sulphidation epithermal vein deposits.
| Hole ID | Easting | Northing | Elevation
(m) |
Dip | Azimuth | Depth
(m) |
Recovery
(%) |
| CMV23001 | 360223.3 | 4888497.2 | 594.63 | -85 | 050 | 61.7 | 98.8 |
Table 2. Collar locations for reported Phase II drillhole. Coordinates and elevation were taken by local consultant surveyors using a differential GPS unit. (WGS84/UTM Zone 34N).
Future Cumavici Ridge exploration plans
The upcoming exploration efforts at Cumavici Ridge will focus on connecting the shallow high-grade interval to previous findings, such as 531 g/t AgEq over 0.75 m and 355 g/t AgEq over 1.10 m, located over 600 m to the northwest.
Additionally, the shallow, vein-hosted system, which remains untested and open to the southwest down-dip, will be a primary target during the 2024 Phase III drilling.
| Hole ID | Easting | Northing | Dip | Azimuth | Depth (m) | Comments |
| CMV23005 | 360232 | 4888411 | -85 | 050 | 58.2 | Ended before target depth |
| CMV23006 | 359917 | 4888823 | -60 | 050 | 82.2 | No visible mineralisation |
| CMV23008 | 359865 | 4888914 | -60 | 050 | 65.8 | No visible mineralisation |
| CMV23010 | 359770 | 4888949 | -50 | 050 | 91.5 | No visible mineralisation |
| CMV23011 | 360225 | 4888446 | -85 | 050 | 50.2 | No visible mineralisation |
| CMV23012 | 360245 | 4888471 | -85 | 050 | 67.6 | No visible mineralisation |
Table 3. Collar locations and comments for the remaining Cumavici Ridge phase II drillholes. Coordinates and elevation were taken using a differential GPS unit. (WGS84/UTM Zone 34N).
Quality Assurance and Quality Control (QAQC)
Half core samples were transported by truck to ALS Bor, Serbia, for sample preparation and analysis at the ALS laboratory in Loughrea, Ireland, an ISO/IEC 17025:2017 certified testing facility.
Sample preparation involved the use of the PREP-31BY method on all core samples, including crushing, rotary splitting, and pulverising. Gold was assayed by 30g fire assay with ICP-AES finish (Au-ICP21), while silver and base metals were analysed through highly oxidising digestion with HNO3, KClO3, and HBr (ASY-ORE), followed by determination using ICP-AES (ME-ICPORE).
Control samples, including certified reference materials, quarter core field duplicates, and blanks, were inserted at a rate of 9% as part of the company’s quality assurance and quality control programme.
Terra Balcanica Resources Corp remains committed to advancing its exploration endeavours with a focus on sustainability, community engagement, and rigorous quality control measures.
