Australian copper and gold exploration company Middle Island Resources said on Wednesday it has uncovered a large, coherent gold system at the Zabrnjica prospect within its Priboj project in western Serbia.
In a 600-metre-long and 200-metre-wide area within the Zabrnjica prospect, which hasn’t so far been subject to modern gold exploration, Middle Island Resources defined a broad and coherent gold-in-soil anomaly, with assay results up to 0.68g/t Au in outcrop and 1.91g/t Au in float, the company said in a filing to the Australian Securities Exchange.
“These latest exploration results reinforce our view that this previously unexplored area has genuine potential to host a large-scale replacement-style gold system. These systems, which include intrusion-related deposits, often present as very large gold systems, such as the multi-million-ounce Donlin Creek gold deposit in Alaska,” said Peter Spiers, Middle Island Resources CEO.
In light of the very positive results, Middle Island Resources now plans an initial five-hole reverse circulation drilling program at Zabrnjica.
Apart from the Priboj project, Middle Island Resources’ exploration portfolio in Serbia includes the Bobija project in the west and the Timok project in the east. Last month, the company said it had uncovered large-scale silver, lead, zinc, and antimony targets at the Tisovik deposit within the Bobija project.
Bobija, Priboj, and Timok are located within the Western Tethyan Belt, which contains giant copper, gold and silver deposits, including Zijin Mining’s Cukaru Peki project and Malka Golaja discovery, Dundee Precious Metals’ Coka Rakita project, and Rio Tinto’s Jadar project – all in Serbia – as well as Dundee Precious Metals’ Vares project in Bosnia and Herzegovina.
