FULL DISCLOSURE: This is sponsored content for Terra Balcanica.
Terra Balcanica Resources (CSE: TERA) has completed a 2,000 metre drill program at its flagship property in Bosnia and Herzegovina, known as the Viogor-Zanik project.
The 216 square kilometre property saw a total of 17 diamond drill holes conducted under a phase two campaign, multiple of which are said to have exhibited sulphide mineralization. Of the 17 holes, 12 were conducted at the polymetallic Cumavici target, while 5 were completed at the gold-copper skarn porphyry target referred to as Brezani.
Assays from the drill program remain pending.
At the same time, the company has closed an over-subscribed financing, raising gross proceeds of $1.2 million, with units under the offering priced at $0.085 per each. Units consists of common share, and one common share purchase warrant, with the latter priced at $0.13 per share and valid for a period of three years.
READ: Terra Balcanica Hits New Mineralized Structure In 640 Metre Step-Out
“Having finalized an oversubscribed financing of over $1.2M in such a challenging macroeconomic environment is a positive signal and has allowed us to complete a robust, 17-hole 2,000-meter Phase II drill program and materially advance the flagship Viogor-Zanik project. The composite drill core samples are now awaiting laboratory completion and an internal QA/QC check before being released as a part of Terra’s steady news flow for months to come,” commented CEO Dr Aleksander Miskovic.
Terra Balcanica Resources last traded at $0.07 on the CSE.
FULL DISCLOSURE: Terra Balcanica Resources is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Terra Balcanica Resources. The author has been compensated to cover Terra Balcanica Resources on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
