Vancouver, British Columbia--(Newsfile Corp. - October 7, 2024) - Mundoro Capital Inc. (TSXV: MUN) (OTCQB: MUNMF) (www.mundoro.com) ("Mundoro" or the "Company") is pleased to announce that it has identified four highly prospective porphyry exploration targets at the Tilva Rosh prospect area on Mundoro's 100% owned licenses. These targets are shown in Figure 1 and include:
- Tilva Rosh Valley: A 2 km x 2 km target area located at the junction of two significant fault structures, identified through geophysics, structural interpretation and geochemical data.
- Tilva Rosh North: A 3 km x 1.5 km target featuring advanced surface alteration and increasing molybdenum grades at depth, indicating potential deeper sulfide-rich porphyry zones.
- Tilva Rosh South: A deeper porphyry target identified through previous drilling, which demonstrated molybdenum anomalies at depth and porphyry style alteration zonation.
- Tilva Rosh Bridge: A 2.3 km zone linking two lithocaps, with elevated copper-gold soil anomalies and geophysical indicators suggesting potential for porphyry system.
"These targets underscore the ongoing potential for further discoveries within the Timok Magmatic Complex. This reinforces our commitment to advancing these projects through strategic partnerships with companies seeking to explore in this well-established mining district, which continues to offer substantial opportunities for additional copper porphyry discoveries," commented Teo Dechev, CEO and President.
Discussion
The Tilva Rosh lithocap, covering approximately 16 square kilometers, is situated in the central part of the Timok Magmatic Complex, near the highly productive Bor and Cukaru Peki Mine Complexes. Through our exploration work, we have identified four promising target areas: Tilva Rosh Valley, Tilva Rosh North, Tilva Rosh South, and Tilva Rosh Bridge. These targets show similarities to the Bor and Cukaru Peki deposits, not only in geological features but also in mineralization styles, and alteration patterns that often signal the presence of porphyry and high-sulphidation epithermal ("HSE") systems.
Figure 1: Location Map of Targets with Geochemistry, Geophysics and Structural interpretation over Geology.
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Tilva Rosh Valley
This 2 km x 2 km target area is centered on a significant fault system concealed beneath alluvial cover, identified through a combination of geophysical and structural interpretation. The area is a structurally significant dilation zone, which could trap mineralizing fluids, creating favorable conditions for porphyry development. Located just north of a 4 km-long lithocap, this area is likely the extension under cover of that lithocap, supported by the continuation of a demagnetized zone as indicated by geophysical surveys. Key porphyry indicators, including surface molybdenum anomalies, demagnetization, and structural interpretation, coupled with a new passive seismic survey, suggest potential for a porphyry-related system. Two drill holes have been designed to test for both porphyry and the associated high-sulphidation epithermal ("HSE") systems, guided by molybdenum anomalies, magnetics, and passive seismic data that align with the area's structural trends.
Tilva Rosh North
This expansive lithocap (4 km by 2 km) is characterized by advanced surface alteration, with argillic and albite-sericite-chlorite zones transitioning into anhydrite at depth. Increasing molybdenum grades to the north and deeper levels, along with magnetic highs within broader demagnetization zones, suggest potential for a sulfide-rich potassic zone in a deeper porphyry system. Traditional porphyry vectors such as A-type quartz-magnetite veinlets further support the potential for mineralization at depth. Two drill holes have been designed to test this area, targeting porphyry and related HSE systems using geophysical data, including magnetic highs and geochemical anomalies, which provide strong evidence for mineralization in this promising target.
Tilva Rosh South
The southern end of the lithocap presents a deeper target for porphyry systems, as near surface drilling has not fully explained the widespread surface alteration and high-grade mineralization from channel sampling which returned 12m @ 30.39 g/t Au and 171.27 g/t Ag. Molybdenum anomalies, both at the surface and along one hole previously drilled in this area, along with alteration zonation and A-type quartz-magnetite veinlets, are vectors pointing toward a deeper porphyry system. A single deep drill hole (FMSC18006) revealed extensive alteration, including hydrothermal breccia and potassic-altered diorite porphyry, indicating the potential for substantial mineralization at depth. One drill hole has been designed to further test this deeper potential, guided by these vectors and supported by geochemical, magnetic, and structural indicators from previous drilling.
Tilva Rosh Bridge
This 2.3 km corridor under agricultural land cover connects two key lithocaps, Markov Kamen North and Tilva Rosh South, and presents additional opportunities along this corridor for the discovery of an undercover porphyry system that may be driving these extensive lithocaps. Elevated copper-gold soil geochemistry and geophysical indicators, including a broad demagnetized zone suggest continuation of the alteration undercover. Two drill holes have been designed to test this area, focusing on the potential for porphyry-related mineralization.
Qualified Persons
The scientific and technical information described in this Press Release has been prepared in accordance with National Instrument 43-101. The scientific and technical information for this press release has been reviewed and approved by R. Jemielita, PhD, MIMMM, a Qualified Person as defined by NI 43-101 and Chief Geologist to the Company.
Mundoro Engages Market Maker
Mundoro has engaged the services of DS Market Solutions Inc. ("DSMS") to provide market making services in accordance with TSX Venture Exchange policies. The contract with DSMS is for a minimum of three months at two thousand five hundred dollars per month and will be renewed for additional one-month terms unless terminated by either party with thirty days' notice.
About Mundoro Capital Inc.
Mundoro is a publicly listed company on the TSX-V in Canada and OTCQB in the USA with a portfolio of mineral properties focused primarily on base and precious metals. To drive value for shareholders, Mundoro's asset portfolio generates near-term cash payments to Mundoro and creates royalties attached to each mineral property optioned to partners. The portfolio of mineral properties is currently focused on predominantly copper in two mineral districts: Western Tethyan Belt in Eastern Europe and the Laramide Belt in the southwest USA.
For further information about Mundoro, please contact Teo Dechev, Chief Executive Officer, President and Director, +1-604-669-8055, or Shamil Devji, Investor Relations Manager at +1-604-669-8055. You can also visit Mundoro's website www.mundoro.com.
Caution Concerning Forward-Looking Statements
This News Release contains forward-looking statements. Forward-looking statements can be identified by the use of forward-looking words such as "will", "expect", "intend", "plan", "estimate", "anticipate", "believe" or "continue" or similar words or the negative thereof, and include the following: completion of earn-in expenditures, options and completion of a definitive agreement by the parties. The material assumptions that were applied in making the forward-looking statements in this News Release include expectations as to the mineral potential of the Company's projects, the Company's future strategy and business plan and execution of the Company's existing plans. We caution readers of this News Release not to place undue reliance on forward-looking statements contained in this News Release, as there can be no assurance that they will occur and they are subject to a number of uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include general economic and market conditions, exploration results, commodity prices, changes in law, regulatory processes, the status of Mundoro's assets and financial condition, actions of competitors and the ability to implement business strategies and pursue business opportunities. The forward-looking statements contained in this News Release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this News Release are made as of the date of this News Release and the Board undertakes no obligation to publicly update such forward-looking statements, except as required by law. Shareholders are cautioned that all forward-looking statements involve risks and uncertainties and for a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to the Company's filings with the Canadian securities regulators available on www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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SOURCE: Mundoro Capital Inc.
