January 5 (SeeNews) - Canadian mineral exploration and development company Mundoro Capital has commenced a drill programme at the Skorusa copper-gold license in Serbia, it said on Tuesday.
The priority for the Phase 1 drill programme is to test three geophysical targets at the outer north-eastern portion of the Skorusa porphyry system that have not been previously tested to approximately 600 m depth, Mundoro said in a filing with the Toronto Stock Exchange.
The programme is expected to be completed by the end of February with assay results expected by the end of March, the company said.
Skorusa, located in the southern portion of the Timok Magmatic Complex directly southwest of Bor mining camp, is one of the licenses being sole funded by Vale Canada as part of the Earn-in Agreement announced October 2019, Mundoro noted.
The Skorusa porphyry system was partially tested in 2015 and 2016 in two separate drill campaigns, with exploration primarily concentrated in the Skorusa west zone which sits in the northwest corner of the license.
The initial exploration work programme with Vale comprised a grid-based soil sampling and ground magnetic survey over the entire license area to provide regional context for the Skorusa porphyry target area.