Terra Balcanica Completes 2,000 Metre Drill Program At Viogor-Zanik
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.
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