Terra Balcanica (CSE: TERA) hit the market this morning with the latest results from its ongoing exploration of the Viogort-Zanik project. Results released this morning consist of drilling assays from the Cumavici Ridge epithermal target.
The assays released this morning come from hole CMVDD005, which was a 50 metre step-out to the west-northwest of CMVDD002, which saw its results released late last year. Highlights of the hole include:
- 273.8 g/t silver equivalent over 3.0 metres (39 g/t silver, 0.21 g/t gold, 0.05% lead, 1.44% antimony, and 0.27% zinc)
- 284 g/t silver equivalent over 10.0 metres (75 g/t silver, 0.78 g/t gold, 0.40% lead, 0.68% antimony, 0.61% zinc)
- Including 895.8 g/t silver equivalent over 2.0 metres (258 g/t silver, 2.85 g/t gold, 1.42% lead, 1.70% antimony, 1.89% zinc)
Mineralization in hole CMVDD005 was intersected at a depth of 33 metres and 81.0 metres. The hole is said to have targeted the down-dip extension of a lateral step out encountered in hole CMVDD004, which intersected 11.0 metres of visible sulphide, the assays of which will be released in the near term.
READ: Terra Balcanica Hits 1,196 g/t Silver Equivalent Over 2.0 Metres In Latest Drill Results
The hole is said to have confirmed consistent high grade polymetallic mineralization at the target, with the zone remaining open to the northwest and down-dip to the southwest. The zone itself is viewed as a shallow polymetallic epithermal discovery.
“The epithermal vein system discovered along the Cumavici corridor is now starting to take concrete shape and size in Terra’s geological model with a potential for considerable expansions along both the NW-SE strike and downdip towards SW. The vein hosted mineralization we see in Cumavici Ridge drill core very much corresponds to high grade, massive sulphides that are observed in the neighbouring Sase Mine, operated by Mineco Ltd., which the Viogor-Zanik project surrounds,” commented CEO Aleksander Miskovic.
WATCH: Terra Balcanica: A Pivotal Year Ahead – With Aleksandar Miskovic
“What particularly excites us is the shallow nature of the system where semi-massive, high grade sulphides are rarely found below 80 m depth and frequently as shallow as 35 m depth. This will facilitate a rapid advancement of our Phase II drill program planned for this year aiming to further define the grade, size and geometry of this tabular, silver dominated system along several target areas identified at and near Cumavici Ridge,” he continued.
Drill hole CMVDD006 meanwhile is said to have intercepted a continuation of the mineralization in a step-out 125 metres to the southeast from today’s drill results.
Continued drilling in 2023 is slated to further test the Cumavici vein to the northwest and southeast, and down dip to the southwest where mineralization remains untested.
Terra Balcanica last traded at $0.125 on the CSE.
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