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Viogor-Zanik (Bosnia and Herzegovina)

Ownership

100% (Drina Resources d.o.o. Srebrenica)

Area

216 km2

District

Srebrenica igneous complex (Podrinje metallogenic zone)

Deposit type

Porphyry-style, skarn-type, IS epithermal

Commodities

Cu, Pb, Zn, Au, Ag, Sb, Sn

Status

Maiden drill campaign (Q3-Q4 2022)

About Viogor-Zanik Project

The Srebrenica Magmatic Complex is the 30-million-year-old, western member of the Podrinje Metallogenic District which includes the Serbian Cer and Boranja mining districts, collectively the northwesternmost extensions of the Serbo-Macedonian Metallogenic Province (SMMP) of the Western Tethyan Metallogenic Belt. The SMMP mainly hosts ore deposits of Paleogene to Neogene age. The Srebrenica district is hosted by Oligo-Miocene, intermediate to mafic subvolcanic rocks emplaced into Paleozoic slates and covered by Neogene felsic pyroclastics.

The district has been known to host two types of mineralization: (i) cassiterite-bearing, greisen mineralization related to quartz-tourmaline-muscovite facies, and (ii) Pb–Zn–Fe bearing hydrothermal veins with variable concentrations of Ag, Sn and Sb. As such, the Srebrenica district shares many mineralogical similarities to those of the Andean Ag–Sn belt, Germany’s Freiberg-Erzgebirge district, the Lavrion deposit in Greece, and the Baia Mare Metallogenic District of East Carpathians, in Romania. The Srebrenica mineralization contains a comparable mineral assemblage to that of the San José Ag–Sn deposit, Oruro, Bolivia (cassiterite, stannite, pyrite, chalcopyrite, argentian tetrahedrite, galena and sphalerite).

The ore mineralization in Srebrenica is related to a syn-volcanic ring-radial fractures where hydrothermal ore veins are concentrated within four main systems of brecciated fractures: (i) the NE ore zone (Sase/Gross mine), (ii) the NW ore zone (Čumavići), (iii) the northern ore zone (Vitlovac), and (iv) the central ore system (Guber, Olovine). The origin of ore mineralization is genetically associated with a concealed plutonic body of S-type granitoid composition shallowly emplaced beneath the south-central part of the district.

Extensive greisen bodies are particularly well developed and composed of quartz, tourmaline and muscovite are found along the contact between the micro-granodiorites and Paleozoic slates. Tourmaline occurs as needle shaped, columnar and radiating aggregates. Greisen tend to be associated with endoskarns and indicate a proximal intrusive body with upper aureoles sealed shut to prevent fluids escaping. The Pb-Zn sulfides, accompanied by siderite, marcasite, sulfosalts and Ag sulfides are the dominant hydrothermal ore minerals, developed in the central part of the district, while in the peripheral parts there is mineralization associated with low-temperature epithermal veins (Sb, locally W, and Hg).

Location map

Technical Report

The Srebrenica Magmatic Complex

3-license, 216 km2 land package surrounds Mineco Ltd.’s Sase Mine with a total probable and proven ore reserve of 6.19 Mt at 4.84% Pb, 5.82% Zn, 78.56 g/t Ag and 318.73 g/t Cd.
(For full disclosure of stated mineral grades and reserves see Appendix III of the corporate presentation).

Čumavići target

  • Shallow, high grade, intermediate sulfidation polymetallic Ag-Au-Pb-Zn-Sb vein system;
  • A 7.2 km, NW-SE structural corridor hosting altered zones of volcanics with occurrences of Pb, Zn and Fe sulfides comprising:
    • Čumavići Ridge zone – NW vein system
    • Josheva zone – SE vein system
    • Ćumurnica zone – sub-parallel SW vein system
  • Multiple drill holes completed during the current program. Assay results pending!

Brežani Target

  • 1.3 km diameter magnetic high, coincident with a high conductivity anomaly at depth
  • Strong Au-Bi-Te-Zn soil anomaly overlies anomalous geophysics
  • 0.54 g/t AuEq over 32 m returned from trenching at the Brezani Target. See Company’s press release dated 17th August 2022.
  • Pyrrhotite-sphalerite-chalcopyrite calc-silicate hornfels observed in contact with dioritic intrusives.
  • Retrograde altered exoskarn identified in outcrop
  • Maiden drilling completed, assays pending!

Geological map of the Viogor-Zanik exploration project

Soil Survey Target Zones

1,650 soil samples taken on a 250 x 250m grid over 133 km2 with 125 m-infill surveys over key anomalies.

Path-finder elements confirm a zoned mineralized system with a proximal, high-temp. elemental association indicative of porphyry deposits transitioning to an epithermal system NW.

Cu+Sn (higher-T proximal porphyry association)

Cu+Sn Zscore SUM for soil geochemistry with elevated responses indicating areas proximal to a magmatic-hydrothermal center.

Te+Bi (higher-T proximal porphyry association)

Bi+Te Zscore SUM for soil geochemistry with elevated responses indicating areas proximal to a magmatic-hydrothermal center. Elevated Bi also maps the extent of phyllic alteration due to its compatibility in sulphides such as pyrite.

Mn+Zn ( distal porphyry/shallow epithermal association )

Mn+Zn Zscore SUM for soil geochemistry with elevated responses in distal environments trending NW into the Cumavici license area. Notably depleted Mn+Zn in the Olovine target area maps possible amphibole destruction in the central parts of magmatic-hydrothermal systems.

Tl+As+Sb ( distal porphyry/shallow epithermal association )

Tl+As+Sb Zscore SUM for soil geochemistry with elevated responses mapping distal or upper parts of magmatic-hydrothermal environments. Notable enrichment in these elements is observed across the known intermediate sulphidation epithermal veins of Olovine and Cumavici.

Airborne Geophysical Survey

1,350 km at 300m spacing with 150m infill @ 120m elevation conducted in May 2020

Corroborated the geochemical findings by identifying 3 prospective drill target zones.

Multiple targets with overlapping magnetic highs and conductive/resistive zones.

 Plan section map of 12.5 Hz SkyTEM electromagnetic data.

Plan map of total magnetic intensity (TMI)

Interpretive section through the Kiseli porphyry target

Interpretive section through the Brezani target area, illustrating a large magnetic anomaly underlying Au-Bi-Te soil anomalism.

Integrated Structural Analysis

A 3D structural interpretation model using magnetic vector inversion iso-surfaces defines principal permeability corridors. The NE-SW and NW-SE structural trends which coincide with the operating Sase mine and the historically explored Chumavichi polymetallic vein zone converge at Olovine, the sector featuring the Kiseli porphyry target.

Project Milestones

The Viogor-Zanik Project work to date was focused on target definition (ca. C$1,800,000)

All upfront geology work has been completed by private fundraising during the past 12 months including:

  • Lithological and alteration mapping, stream and litho-geochemical sampling (rock chip)
  • ASTER, SENTINEL-2 & LANDSAT-8 remote sensing to identify favourable clay mineralogy
  • Successful inversion of historical gravity and magnetic data
  • A 1,331-line km airborne magnetic ± EM survey completed
  • A 1,650 sample 250 x 250 m grid soil survey (125×125 m infills)
  • Project scale gamma ray spectrometry
  • Project scale structural mapping
  • A detailed 1:2,500 scale mapping of key areas of interest with rock chip sampling
  • Data synthesis and target definition

Three flagship project target zones are ready to drill immediately.

Stream sediment survey
Remote sensing
Magnetic and gravity inversion
Soil and RC survey
Ground radiometry
Airborne magnetics and EM
Structural targeting

Preliminary drilling – Q2 2022.

Drill targets have been identified through analysis of the various geological data layers.

These have been ground-verified and ranked by empirical targeting where appropriate (weights of evidence)