TERRA BALCANICA REPORTS MASSIVE SULPHIDE MINERALIZATION IN INITIAL PHASE II DRILLHOLES AT CUMAVICI RIDGE

Highlights Polymetallic epithermal mineralization has actually been obstructed in the very first 4 step-out drillholes of the 2023 Phase II program at Cumavici Ridge (Figure 1); An effective 42-m southeast action out with drill hole CMV23003 verifies the epithermal mineralization over 81 m strike length from formerly reported CMVDD005 (Figure 2); Drillhole CMV23003 converged the thickest zone of huge colloform sphalerite observed at Cumavici Ridge to date (Figure 3); Shallowest mineralization to date is reported with sulphides beginning at 7.1 m and 10.0 m in drill holes CMV23002b and CMV23001, respectively; Macroscopic observations of mineral assemblages obstructed up until now recommend that assays from the 2023 Phase II, Stage 1 drill program at Cumavici Ridge are anticipated to construct on the high grades from first drilling. Terra Balcanica CEO, Dr. Aleksandar Mišković, remarks: “We are off to an extraordinary start with the Phase II drill program at Cumavici Ridge where all the preliminary 4 drill holes returned indications of huge sulphide mineralization, sometimes as shallow as 7 meters listed below surface area. We will continue to make the most of drilling meterage by drilling scissor holes to assist specify the regional geometry of the mineralized structure. With another 40 m action out, this time to the southeast and extra 2 step-outs prepared in the very same instructions, we are possibly taking a look at over 180 meters of silver-dominated mineralization along strike at this target location alone, while the genuine objective is to extend the mineralized footprint to the northwest where Terra thinks the system will reveal its complete capacity over a projected 650 meters strike length. We are drilling through the very same kind of mineralization as is presently mined in the Sase mine which we surround. This center is at half of its mine life with all the facilities in location. We will launch lab assays soon.” The Company began its Phase II drilling program at Cumavici Ridge, the 2022 state-of-the-art polymetallic discovery which returned as much as 505 g/t Ag Eq. over 11 m, by extending the mineralized footprint by 39 m to the SE in drillhole CMV23001 (See Company press release dated 27th of February 2023). A 2nd drillhole CMV23002b utilized the exact same pad place with a shallower drilling disposition, and duplicated the effective obstruct starting from 19 m. A 34 m action out to the SW specifies CMV23003 where the Cumavici Vein system was effectively converged 43.9 m downhole. Drill hole CMV23004, drilled from the exact same pad at a shallower angle verified connection of the vein system at a depth of 35.35 m. Figure 1. Geological map highlighting the 2023 prepared drilling places at Cumavici Ridge and the finished drillholes CMV23001/002b and 003/004 which have actually increased strike length of the mineralization to 81 m relative to 2022 Phase I drilling project (click on this link to see image). Figure 2. Enormous sulphide period in between 43.90-46.00 m downhole in CMV23003. 44.60-45.50 m hosts enormous colloform banded orange-brown sphalerite and galena with periods of hydrothermal brecciation, which grades downhole from an andesitic volcanic breccia which has actually been entirely matrix changed by a polymetallic sulphide assemblage (click on this link to see image). Figure 3. PQ3 size diamond drillhole CMV23003 highlighting periods of colloform banded orange-brown sphalerite and galena, consisting of areas of hydrothermal breccia and a sharp upper vein contact with the argillic transformed andesitic tuffaceous breccia. Coarse grained sulphides exist in between the colloform bands (click on this link to see image). Drill Core Observations Drillhole CMV23001 reports the shallowest huge sulphide obstruct to date with > 10 m of noticeable sulphides beginning at a depth of 10 m extending the mineralization footprint at Cumavici Ridge an additional 39 m SE. Hanging wall shared sulphides grade into 2.75 m of extreme quartz-sulphide veining within a silicified and highly chlorite modified andesitic lapilli tuff consisting of 0.7 m of semi-massive sphalerite-stibnite-galena-marcasite from 13.10 m depth and a 0.4 m zone of orange colloform banded sphalerite. Aggregates of sulphide reach a depth of 21 m into the footwall, hosted by highly argillic modified tuffaceous breccia and periods of fault gouge. A 2nd zone of mineralization in the footwall in between 30.0-32.4 m depth hosts quartz-sulphide veining with a 0.3 m period of sphalerite dominant semi-massive sulphide. Drillhole CMV23002b was drilled from the exact same pad place, however with a disposition of – 50 ° obstructed 2 unique periods of polymetallic mineralization. Distributed pyrite-sphalerite-stibnite in between 7.10– 11.30 m marks a near-surface splay of the mother lode, that includes a 5 cm period of colloform banded quartz-sphalerite. The primary Cumavici vein structure started at 19.0 m
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