TERRA BALCANICA INTERSECTS 284 G/T AGEQ OVER 10 M INCLUDING 895 G/T AGEQ OVER 2 M AT VIOGOR-ZANIK PROJECT IN BOSNIA

Highlights High grade +50 m action out: Drillhole CMVDD005 returned 284 g/t AgEq over 10.0 m including8 g/t AgEq over 2.0 m (see Figure 3) around 50 m west-northwest of CMVDD002; Previously launched intercepts at the Cumavici target returned comparable high grades: CMVDD001: 824.2 g/t AgEq. over 4.0 m consisting of 1634.4 g/t AgEq. over 2.0 m CMVDD002: 816.1 g/t AgEq. over 2.0 m CMVDD003: 465.5 g/t AgEq. over 8.7 m consisting of 1196.6 g/t AgEq. over 2.0 m (see Company press release from September 8th and October 22nd, 2022); CMVDD004, situated 40 m northeast of CMVDD005, converged 11 m of noticeable sulphide mineralization with assays to be launched soon (see Figures 2 and 3); Exploration advantage: CMVDD005 validates constant high grade, polymetallic mineralization at Cumavici Ridge. The mineralization is totally open up to the NW and down-dip to the SW. State-of-the-art outcomes verify the Cumavici passage as a shallow, polymetallic epithermal discovery with considerable capacity for growth. Terra Balcanica CEO, Dr. Aleksandar Mišković, commented: “Another Terra Balcanica drill march at Cumavici Ridge and another substantial, high grade obstruct. The epithermal vein system found along the Cumavici passage is now beginning to take concrete sizes and shape in Terra’s geological design with a capacity for significant growths along both the NW-SE strike and downdip towards SW. The vein hosted mineralization we see in Cumavici Ridge drill core quite represents high grade, enormous sulphides that are observed in the neighbouring Sase Mine, run by Mineco Ltd., which the Viogor-Zanik job surrounds. This recommends that the Cumavici discovery is its westerly epithermal forecast along a 7.2 km long, structurally managed lineament. What especially thrills us is the shallow nature of the system where semi-massive, high grade sulphides are hardly ever discovered listed below 80 m depth and often as shallow as 35 m depth. This will assist in a quick improvement of our Phase II drill program prepared for this year intending to even more specify the grade, size and geometry of this tabular, silver controlled system along a number of target locations recognized at and near Cumavici Ridge. We are similarly delighted to rapidly advance the other 2 Viogor-Zanik task target zones, particularly: the brand-new Brezani skarn discovery and the Olovine porphyry possibility, each of which is defined by comprehensive modification, geophysical and surface area mineralization footprints. The Company will report even more, 2022 Phase I Cumavici Ridge drill core assays over the coming weeks.” Assay Results Drillhole From (m) To (m) Length (m) Ag (g/t) Au (g/t) Pb (%) Sb (%) Zn (%) AgEq * (g/t) CMVDD005 33.0 36.0 3.0 39 0.21 0.05 1.44 0.27 273.8 81.0 91.0 10.0 75 0.78 0.40 0.68 0.61 284.0 Incl. 86.0 88.0 2.0 258 2.85 1.42 1.70 1.89 895.8 CMVDD001 29.0 33.0 4.0 132 0.84 2.12 1.85 4.59 824.2 Incl. 30.0 32.0 2.0 261 1.62 4.20 3.70 9.10 1634.4 CMVDD002 45.0 47.0 2.0 144 0.23 4.27 0.44 8.26 816.1 CMVDD003 89.0 97.7 8.7 105 0.81 0.70 1.20 1.17 465.5 Incl. 91.0 93.0 2.0 289 1.16 2.03 3.50 3.16 1196.6 Table 1. Assay outcomes of crucial mineralized periods from Cumavici Ridge drillholes. Period lengths reported are drilled lengths, not real widths. Silver equivalents (“AgEq”) are based upon presumed metal rates of US$ 1950/oz for gold (Au), US$ 18.00/ oz for silver (Ag), US$ 1.00/ pound for lead (Pb), US$ 4.50/ pound for antimony (Sb) and US$ 1.50/ pound for zinc (Zn). * Assumed metal healings of 90% Au, 93% Ag, 94% Pb and Zn, 90% Sb are based upon released metallurgical tests for comparable Oligo-Miocene, epithermal deposits in the Balkans (CMVDD001-003; see the Company press release from September 8th and October 22nd, 2022). Worths are rounded to nearby hundredth other than Ag which is rounded to the nearby entire number. Figure 1. The 216 km2 Viogor-Zanik job in eastern Bosnia and Herzegovina with the crucial drill target locations and their associated designs of mineralization: (i) the vein hosted epithermal Cumavici passage, (ii) the Olovine porphyry target and (iii) the Brezani gold skarn/porphyry system. (Click to see image). Figure 2. Geological map of Phase I drillholes at Cumavici Ridge. Drillholes CMVDD004 and CMVDD005 are NW step-outs from the preliminary drill fence which converged Ag-Zn-Pb mineralization (Click to see image). Drillhole CMVDD005 targeted the down-dip extension of the lateral action out verified by CMVDD004 with a 40 m collar place action out to the west-so
Find out more