The latest assay results are in for Terra Balcanica (CSE: TERA). The company is currently in the process of drill testing its Viogor-Zanik project, found in Bosnia and Herzegovina, where it has reportedly made a gold discovery.
Intercepts released this morning come from the Brezani target, where maiden drill holes are said to have identified a gold bearing system. The discovery is said to bring a third style of mineralization into the mix at the Viogor-Zanik project, where the firm has also identified polymetallic discoveries.
READ: Terra Balcanica Intersects 11 Metres Of Massive Sulphides In Latest Drilling
Highlights from the drill results include:
- BREDD001: 0.53 g/t gold, 0.32 g/t silver over 28.6 metres (from 0.0 metres), including 1.24 g/t gold and 0.33 g/t silver over 5.7 metres
- BREDD002: 0.50 g/t gold and 0.37 g/t silver over 88.0 metres (from 0.0 metres), including 1.50 g/t gold and 1.18 g/t silver over 6.0 metres
The Brezzani target sits 12 kilometres southeast of the recent Cumavici discovery, and is said to coincide with a “resistive volume of rock above a large conductivity anomly.” That anomaly is believed to represent porphyry style mineralization, and currently remains untested, while also being labeled as a priority during for the 2023 drill campaign. Brezzani remains open at depth, with the recent drilling said to have terminated in elevated gold mineralization, found at a depth of 215 metres.
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“The Viogor-Zanik project is clearly underexplored as we have identified a number of quality exploration targets through our detailed targeting in 2021 and we have now confirmed three different styles of magmatic-hydrothermal mineralization. The intercepted metasomatized hornfels suggests that we are in the upper part of a large retrograde skarn-porphyry system at Brezani with the gold mineralization encountered from surface and a significant potential for either a deeper porphyry or a sulphide rich Cu-Au proximal skarn mineralization,” commented CEO Dr Alex Miskovic.
The results follow the company proving out the Cumavici target via drill results released late last year. Among other results, the company interested 1,196 g/t silver equivalent over 2.0 metres as well as 824.2 g/t silver equivalent over 4.0 metres.
Terra Balcanica last traded at $0.09 on the CSE.
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