VANCOUVER, Nov. 20, 2014 /CNW/ - Mundoro Capital Inc. (TSXV:MUN www.mundoro.com) ("Mundoro or the "Company") is pleased to announce that drilling has commenced on its 100% owned Zeleznik copper-gold exploration license. The Zeleznik license, located at the northern portion of the Timok Magmatic Complex, covers 60 km² and is located adjacent along the northern license border with the Majdanpek open pit copper mine in northeastern Serbia.
Mundoro's new drill program at Zeleznik will be for approximately 1,000 meters over five holes, three on the West Zone of the property and two on the East Zone (see attached Figure 1: Zeleznik East Drill Hole Location Map and Figure 2: Zeleznik West Drill Hole Location Map). The five drill holes will follow up on the mapping, trench sampling, geophysics and soil geochemical work completed throughout the year (see May 1, 2014 and January 13, 2014 press releases) and is intended to test continuation of the encouraging results obtained at surface and extract additional information about the geological and structural setting at depth.
Teo Dechev, CEO and President of Mundoro commented, "The West and East Zones at the Zeleznik property are located just 1.8 km to the north of where current mining is taking place at the Majdanpek mine, which is a lateral laying porphyry deposit. The exploration results to date from our soil geochemical sampling, ground magnetics and trench sampling have outlined two areas with Cu-Au-Mo anomalies that also correlate to the ground mag anomalies at depth. The West Zone we believe is a porphyry system as trenching has identified outcrops of andesite dikes, quartz and diorite porphyry dikes while on the East Zone we believe that exo and endo skarn mineralization encountered at the limestone contact with the altered diorite intrusion might be related to a porphyry at depth. Skarn systems are typically peripheral to a porphyry system. We look forward to updating the market with the results of our drill program once the core data has been logged, assayed and interpreted."
Sampling and Analysis
All trench intercepts were obtained from continuous channel sampling at 2 m intervals. All samples are assayed using 50 gram fire assay with atomic absorption finish by ALS, Romania. Quality Assurance and quality control procedures include the systematic insertion of standards and duplicates into the sample streams. Field duplicate samples are taken every 25 samples and standards and blanks are inserted after every 20th sample. All data collected in the field and assay results from the laboratories are routinely verified and entered in an Access data base.
Soil samples were collected from "B" horizon of the soil media by hand digging a hole from 0.1 to 0.5m. Material of ~500 grams was collected, sealed and send directly to the ALS Prep laboratory in Bor. Samples were dried at <60°C/140F, sieve sample to -180 micron (80 mesh) and assayed by ALS, Romania using 30 gram fire assay with atomic absorption finish.
The technical information contained in this Press Release has been reviewed and approved by Mr. G. Magaranov, P. Geo., the Qualified Person as defined by National Instrument 43-101.
On behalf of the Company,
Teo Dechev, Chief Executive Officer, President and Director
About Mundoro Capital Inc.
Mundoro is a well-funded, Canadian based, company focused on mineral acquisition, exploration, and development. Our primary focus is advancing our properties on the Tethyan Belt in Southeastern Europe. Mundoro has methodically acquired a district-scale land position on this prolific mineral belt which hosts significant Gold-Copper porphyry and related epithermal deposits. Our strong project pipeline, which also includes assets in Mexico and China, is positioned to drive long-term, sustainable growth in order to attain production and shareholder return.
Caution Concerning Forward-Looking Statements
Information included, attached to or incorporated by reference into this News Release may contain forward-looking statements. All statements, other than statements of historical fact, included or incorporated by reference in this News Release are forward-looking statements, including, without limitation, statements regarding activities, events or developments that the Board expects or anticipates may occur in the future. These 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. The material assumptions that were applied in making the forward looking statements in this News Release include expectations as to the Company's future strategy and business plan and execution of the Company's existing plans. There can be no assurance that the plans, intentions or expectations upon which these forward-looking statements are based will occur. We caution readers of this News Release not to place undue reliance on forward looking statements contained in this News Release, which are not a guarantee of performance and 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, 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 to reflect new information, subsequent events or otherwise, 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.
SOURCE: Mundoro Capital Inc.
For further information:
please contact Teo Dechev, CEO, President and Director of Mundoro Capital Inc. at +1-604-669-8055 or Michelle Roth, Roth Investor Relations at +1-732-792-2200.