Middle Island Resources Ltd has announced the successful acquisition of two new exploration licenses in Serbia, namely Majdanpek West and Kulmea Albina, granted by the Ministry of Energy and Mining. The licenses were issued on 30th September and 30th October 2026, respectively, through the company’s wholly-owned Serbian subsidiary, Konstantin Resources d.o.o. These licenses are part of the Timok Project, located in Eastern Serbia, an area renowned for its rich copper and gold deposits.
The Majdanpek West license is strategically located just 3km from the Zijin-operated Majdanpek mine and is adjacent to DPM’s Dumitru Potok and Čoka Rakita deposits. Meanwhile, the Kulmea Albina license encompasses the northern section of the historic Blagojev Kamen goldfield, which has a history of gold production dating back to pre-World War I. Both licenses are valid for a two-year period, with the possibility of extension contingent on fulfilling exploration commitments.
Executive Chairman Daniel Raihani expressed enthusiasm over the new licenses, stating that they represent a significant advancement in the development of the Timok Project, situated in one of Europe’s most prolific copper-gold districts. The company plans to initiate desktop studies and fieldwork promptly to establish exploration targets, leveraging the historical data and geological characteristics of the area.
The Timok Project area is characterized by a diverse geological setting, including Proterozoic gneisses, schists, and meta-sediments, as well as Jurassic and Cretaceous sediments. The region is known for various mineralization styles, including porphyry Cu-Au and high sulphidation epithermal Cu-Au deposits. The company is optimistic about the potential for significant discoveries in the area, given its proximity to several established mining operations and historical workings.
In addition to the new licenses, Middle Island Resources is awaiting assay results from ongoing exploration programs in Serbia, including the Bobija and Priboj projects. The company remains committed to advancing its exploration efforts in the region, which is considered highly prospective for gold and base metal deposits. With a portfolio of exploration projects in the Western Tethyan Mineral Province, Middle Island Resources is well-positioned to capitalize on the growing demand for these critical minerals.
