Terra Balcanica extends massive sulphide mineralization with two exit holes at its Viogor-Zanik project in Bosnia

Terra Balcanica Resources Corp.

Figure 1.

Geological map of the Cumavici volcanics hosting the epithermal vein system with drill holes CMVDD002, CMVDD003 highlighted.

Geological map of the Cumavici volcanics hosting the epithermal vein system with drill holes CMVDD002, CMVDD003 highlighted.

Figure 2.

A conceptual cross-sectional view of boreholes CMVDD001 – CMVD003 looking NW.  Descriptions of intervals are present.  The mineralization is open down-dip to the SW and along the NW-SE strike.  Gap thicknesses are drilled lengths, not actual thicknesses.

A conceptual cross-sectional view of boreholes CMVDD001 – CMVD003 looking NW. Descriptions of intervals are present. The mineralization is open down-dip to the SW and along the NW-SE strike. Gap thicknesses are drilled lengths, not actual thicknesses.

Picture 3.

Photograph from 44.3 to 48.0 m in hole CMVDD002.  Orange and brown colloform banded sphalerite can be observed with galena in a polymetallic vein.  Photo 2 is delimited by a white rectangle.

Photograph from 44.3 to 48.0 m in hole CMVDD002. Orange and brown colloform banded sphalerite can be observed with galena in a polymetallic vein. Photo 2 is delimited by a white rectangle.

Figure 4.

Photograph of 45.35 – 45.50 m in borehole CMVDD002.  Sphalerite and galena can be observed in orange and brown colloform-crustiform bands with weakly brecciated lower vein contact with andesitic tuff.

Photograph of 45.35 – 45.50 m in borehole CMVDD002. Sphalerite and galena can be observed in orange and brown colloform-crustiform bands with weakly brecciated lower vein contact with andesitic tuff.

Figure 5.

The CMVDD003 drill core from 90.1 to 92.9 m.  Hanging veins and semi-massive sulphide veins are observed.  Details of the dotted rectangle are shown in Figure 4.

The CMVDD003 drill core from 90.1 to 92.9 m. Hanging veins and semi-massive sulphide veins are observed. Details of the dotted rectangle are shown in Figure 4.

Picture 6.

The CMVDD003 drill core segment is 92.4 to 92.6 m with a semi-massive sphalerite-stibine-galena-pyrite-pyrrhotite assemblage along the vein-tuff contact.

The CMVDD003 drill core segment is 92.4 to 92.6 m with a semi-massive sphalerite-stibine-galena-pyrite-pyrrhotite assemblage along the vein-tuff contact.

VANCOUVER, British Columbia, Sept. 20, 2022 (GLOBE NEWSWIRE) — Terra Balcanica Resources Corp. (“Earth“or the”Company”) (CST: TERA) is pleased to announce a polymetallic sulphide vein extension with two exit holes at the Cumavici target on its 90% owned Viogor-Zanik project in Bosnia and Herzegovina.

Strong points

  • Extension of the shallow epithermal vein system: hole CMVDD001 intercepted 824.2 g/t AgEq. over 4.0 meters while CMVDD002 and CMVD003 aimed to test the down-dip extensions of the high-grade polymetallic vein;

  • Greater vein thickness: the intervals contain up to 11 meters of visible sphalerite-galena-stibine mineralization with the system remaining open;

  • Assay results for CMVDD002 and CMVDD003 will be released shortly.

Terra Balcanica CEO Dr Aleksandar Miskovic comments: “The intersection of more vein-hosted mineralization over 80 meters from the first high-grade drill hole at Cumavici is very encouraging and confirms the potential size of this shallow epithermal system. The visible signatures observed are analogous to polymetallic epithermal vein systems elsewhere in the Balkans including sphalerite, galena and stibnite. We are encouraged by the first three holes and plan to aggressively delineate the full extent of the Cumavici target along the 7.2 km long structural corridor and will release assay results in the coming weeks.

Observations on drill cores
Terra Balcanica has begun the inaugural drill program confirming the presence of a high-grade polymetallic vein system at the Cumavici target (see company press release dated September 8e, 2022). Observations from two additional drill holes detailed below extend the high grade polymetallic mineralization down dip by more than 70 meters (distance measured in section) and report thicker visible vein structures.

Hole CMVDD002 intercepted a shallow semi-massive sulphide vein dominated by colloform-crustiform banded galena-sphalerite at 45 meters depth. The footwall of the vein hosts a stockwork interval of quartz-stibine-sphalerite veinlets. Similar textures are seen in the previously reported CMVDD001 drillhole.

Hole CMVDD003 intercepted 9 meters of massive sulphides visible in a vein in a hydrothermally altered andesitic tuff. 2 meters of semi-massive sulphides are observed from 91 meters depth with veins rising in the hanging wall over 2 meters. The veins are composed of stibnite, sphalerite and galena with a rare chalcopyrite. Intervals of hydrothermal breccia are present with banded colloform sphalerite-galena dominating the cement phase.

Ongoing exploration program
Following positive visual observations in the core of CMVDD001 (see the Company’s press release dated August 23rd, 2022) two other drill holes, CMVDD002 and CMVDD003, were drilled from different locations over 80 meters with the aim of testing the down-dip extension and continuity of the high-grade polymetallic vein. Future drilling efforts at the Project will be aimed at testing the continuity of the 7.2 km long Cumavici polymetallic vein system along strike and down dip (Figures 1 and 2).

Picture 1

Picture 1

Figure 1. Geological map of the Cumavici volcanics hosting the epithermal vein system with drill holes CMVDD002, CMVDD003 highlighted. Click here to see the picture

Picture 2

Picture 2

Figure 2. A conceptual cross-sectional view of boreholes CMVDD001 – CMVD003 looking NW. Descriptions of intervals are present. The mineralization is open down dip towards the SW and along the NW-SE direction. Gap thicknesses are drilled lengths, not actual thicknesses. Click here to see the picture

Picture 3

Picture 3

Picture 3. Photograph from 44.3 to 48.0 m in hole CMVDD002. Orange and brown colloform banded sphalerite can be observed with galena in a polymetallic vein. Photo 2 is delimited by a white rectangle. Click here to see the picture

Picture 4

Picture 4

Figure 4. Photograph of 45.35 – 45.50 m in borehole CMVDD002. Sphalerite and galena can be observed in orange and brown colloform-crustiform bands with weakly brecciated lower vein contact with andesitic tuff. Click here to see the picture

picture 5

picture 5

Figure 5. The CMVDD003 drill core from 90.1 to 92.9 m. Hanging veins and semi-massive sulphide veins are observed. Details of the dotted rectangle are shown in Figure 4. Click here to see the picture

picture 5

picture 5

Picture 6. The CMVDD003 drill core segment is 92.4 to 92.6 m with a semi-massive sphalerite-stibine-galena-pyrite-pyrrhotite assemblage along the vein-tuff contact. Click here to see the picture

Qualified person
Dr. Aleksandar Mišković, P.Geo, is the Company’s Designated Qualified Person for this press release within the meaning of National Instrument 43-101 Standards for Disclosure of Mining Projects (“NI 43-101”) and has reviewed and validated that the information contained in this press release as accurate.

About the company
Terra Balcanica is a polymetallic exploration company targeting large-scale mining systems in the Balkans of southeastern Europe. The Company holds a 90% interest in the Viogor-Zanik project in eastern Bosnia and Herzegovina, 100% of the Kaludra mineral exploration license in Serbia and has a pending exploration license on the Ceovishte property in Serbia. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing sustainable health, safety and environmental practices.

ON BEHALF OF THE BOARD OF DIRECTORS

Terra Balcanica Resources Corp.

Aleksandar Miskovic
President and CEO

For more information, please contact [email protected], or visit our website at www.terrabresources.com.

Caution

This press release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities laws (collectively, “forward-looking statements”). The use of any of the words “will”, “intends” and similar expressions is intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in these forward-looking statements. Undue reliance should not be placed on such forward-looking statements. Actual results obtained may differ from the information provided herein due to numerous known and unknown risks, uncertainties and other factors. The Company believes that the expectations reflected in these forward-looking statements are reasonable, but there can be no assurance that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.

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