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Mundoro mobilizes drill rig to Angel Vyvoda gold target

Monday, March 6, 2017 14:17
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(Before It's News)

A drill rig has been mobilized to the Angel Vyvoda gold target on Mundoro Capital’s (TSE:MUN) Zvezda licence, the company announced on Monday.

Zvezda is one of two large and contiguous exploration licences located in southeastern Bulgaria in the Rhodopean region and is part of the Tethyan metallogenic belt.

 

Highlights:

 

  • The drill program at Zvezda will focus on the Angel gold target generated by systematic exploration completed by Mundoro in 2015 and 2016.
  • This drill program aims to test a gold-in-soil geochemical anomaly coincident with mapped structural trends and covering an area of 2.7 kilometres by 1.5 kilometres.
  • Mundoro holds approximately $5mln in cash as of Dec. 31, 2016, and is debt free.

 

“We are looking forward to drill test the Angel gold target which our geological team discovered through soil geochemistry, mapping and structural analysis,” said Teo Dechev, chief executive officer and president of Mundoro.

“Based on the data compiled to date, we believe the Angel gold target may be geologically analogous to the nearby Ada Tepe deposit at the Krumovgrad project currently under construction by Dundee [Precious Metals Inc.]. We expect to complete drilling by the end of April, 2017, and to release assay results around the end of May, 2017.”

Story by ProactiveInvestors



Source: http://www.proactiveinvestors.com/companies/news/174336/mundoro-mobilizes-drill-rig-to-angel-vyvoda-gold-target-174336.html

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