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A new mineralized structure has been discovered by Terra Balcanica Resources (CSE: TERA) at the Viogor-Zanik project in eastern Bosnia and Herzegovina.
The new discovery was made following a 640 metre step-out conducted at the Cumavici Ridge epithermal vein target, the latter of which was a discovery made by the company in 2022. The new discovery is said to consist of shallow polymetallic mineralization, and was encountered after drill testing a parallel structure to the Cumavici Ridge target.
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Testing of the structure was conducted via the drilling of five separate holes, all of which hit the intended target. Three of the holes are said to have encountered polymetallic mineralization. The structure itself is known to be continuous for 193 metres, trending northwest to southeast, and is open along strike and down-dip.
“The 2023 drill campaign started off on the right foot with a significant step out from the centre of the mineralized zone discovered at Cumavici Ridge in 2022. The footprint of silver-dominated, polymetallic mineralization now extends over 700 m along the NW-SE corridor at this locality, only one of five separate targets along the 7.2 km long Cumavici corridor. The laboratory assays from these step-out drill holes and the central part of Cumavici Ridge are expected to come back shortly. We will continue to carry on further drilling at the Cumavici Ridge target in our Phase II drilling,” commented CEO Aleksandar Miskovic.
Preliminary results indicate that hole CMV23007 encountered 2.7 metres of fault hosted veins, while hole CMV23009 intersected 6.3 metres of sulphide mineralization, both of which hit the mineralization approximately 39 metres down hole. Hole CMV23010 meanwhile encountered 6.5 metres of a mineralized zone at a depth of 83.8 metres.
Continued exploration will focus on extended the Cumavici Ridge target to the northwest, with a thicker zone of mineralization believed to exist near a northeast-southwest second order structure.
Terra Balcanica last traded at $0.085 on the CSE.
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