Mundoro Capital has announced that it has obtained approval for Borsko Jezero, the company’s seventh exploration license, from the Serbian government. The total area of the Borsko Jezero license is 46 sq. km and is situated near to, and directly west of the Bor porphyry and high-sulphidation ore body.
Currently, the company has obtained seven exploration license regions located in Serbia and has one more application with the Ministry of Environment, Mining and Spatial Planning.
According to Mundoro’s President and CEO, Teo Dechev, the company’s land area has been expanded to a district-scale exploration effort made in the high-potential Timok Magmatic complex situated in the Tethyan Metallogenic belt’s western part. According to the company, this license area, which is directly near to the Bor mine’s license area, is a great addition to the exploration land.
The location of the Borsko Jezero license area is in the high-potential Timok Magmatic complex in East Serbia. This area covers 46 sq. km about 2 km towards the western part of the Bor high sulphidation and porphyry copper-gold deposit. The geology of the license area contains Upper Cretaceous magmatic rocks, which also comprise the Majdanpek and Bor deposits.
Mundoro Capital, which is based in Canada, operates as a mineral procurement, exploration, development and investment firm.