MINEX Forum

Tag: Serbia mining

  • Middle Island Resources Expands Bobija Gold-Silver Discovery to 80,000m² as Phase Two Drilling Links Three Separate Zones in Serbia

    Middle Island Resources Expands Bobija Gold-Silver Discovery to 80,000m² as Phase Two Drilling Links Three Separate Zones in Serbia

    Middle Island Resources has received final assay results from phase two reverse circulation drilling at its Bobija project in Serbia, with results expanding the discovery significantly and linking three previously separate mineralised zones into a single large system covering approximately 80,000 square metres.

    The standout intersection from the programme came in hole BMLRC022, which returned 41 metres at 1.03 grams per tonne gold, 52.9 grams per tonne silver, 0.17% copper, 0.94% lead and 1.26% zinc from one metre depth. Other significant Central Zone results include BMLRC023, which returned 40 metres at 1.23 grams per tonne gold, 64.0 grams per tonne silver, 0.15% copper, 0.99% lead and 0.92% zinc from one metre, and BMLRC028, which intersected 28 metres at 1.18 grams per tonne gold, 66.6 grams per tonne silver, 0.19% copper, 1.22% lead and 1.62% zinc from 20 metres. Step-out drilling north of the historic Central Zone extended the mineralised footprint beyond previously interpreted boundaries, with BMLRC024 returning 13 metres at 1.87 grams per tonne gold, 93.2 grams per tonne silver, 0.30% copper, 1.46% lead and 0.68% zinc from three metres.

    Phase two comprised 17 holes for 1,363 metres. Mineralisation remains open to both the east and west on each cross section, with several high-grade intersections at the limits of current drilling. CEO Peter Spiers described Bobija as rapidly emerging as a major shallow gold-silver discovery. “Historic work targeted lead, zinc, and barite and largely overlooked gold, but our drilling is consistently demonstrating that gold and silver comprise a dominant part of the Bobija system,” he said.

    Phase three drilling is planned to test multiple open extensions, focusing on the northern and southern limits of the current target area and assessing continuity within and between the Central, West and North zones. The Bobija project covers 182 square kilometres across five mineral licences, with Middle Island holding a ten-year option to acquire two granted mining licences from local company Bobija doo Ljubovija.

  • BHP-Backed Mundoro Advances Copper-Gold Exploration Across Five Targets in Serbia’s Timok Magmatic Complex

    BHP-Backed Mundoro Advances Copper-Gold Exploration Across Five Targets in Serbia’s Timok Magmatic Complex

    Canadian explorer Mundoro Capital and mining giant BHP are intensifying exploration across five targets in eastern Serbia’s Timok Magmatic Complex, one of Europe’s most prospective copper-gold belts, with drilling results from the flagship Skorusa project expected to provide a critical indicator of the programme’s potential by the end of summer.

    According to Mundoro’s first quarter 2026 report, exploration activity has focused on new drilling programmes, geophysical surveys and geological data integration across the Skorusa, Oblez, Borsko, Trstenik and South Timok Corridor projects near Bor. BHP is financing the majority of work under a stake acquisition agreement.

    Skorusa is drawing the most attention. Two exploration holes totalling nearly 1,300 metres were completed during spring, with one intersecting a wider zone of advanced argillic alteration than anticipated — a feature that may indicate a preserved hydrothermal system. Laboratory analysis of drill samples is expected in June and geological interpretation should be complete by end of summer.

    At the Borsko project, work to date has defined a large alteration zone measuring approximately 1.6 by 1.5 kilometres, which Mundoro believes could conceal a previously untested copper-gold porphyry system. Additional targeting and exploration preparation are planned. At the South Timok Corridor’s Lipovica area, two holes totalling approximately 1,278 metres have been completed alongside audio-magnetotelluric, gravimetric and passive seismic surveys across several licences. A new stratigraphic hole near Vitanovac is planned for the third quarter.

    Mundoro is also evaluating new prospect areas across the Timok and other igneous belts in Serbia, targeting copper-gold porphyry systems, skarn mineralisation and epithermal deposits.

  • Strickland Metals Faces Drilling Delay at Serbia’s Rogozna Gold Project as Ministry Approvals Stall and Community Protests Intensify

    Strickland Metals Faces Drilling Delay at Serbia’s Rogozna Gold Project as Ministry Approvals Stall and Community Protests Intensify

    Australian miner Strickland Metals has disclosed an unexpected delay to the launch of its exploration drilling programme at the Rogozna gold project in southern Serbia, after the country’s mining ministry has yet to approve expanded drilling work plans submitted more than five months ago.

    Strickland said in an ASX filing on Monday that it is awaiting ministry approval for the expansion of exploration drilling at the main Rogozna licence, which contains the existing Gradina, Shanac, Copper Canyon and Medenovac deposits. The company submitted the relevant approval documents in December 2024, noting that prior approvals have generally been obtained within three months of submission. The ministry had not responded to a request for comment at time of publication.

    The 8.6 million ounce gold equivalent Rogozna project spans approximately 184 square kilometres across four exploration licences. Strickland has said the project could potentially become one of the largest undeveloped gold deposits in the world and is targeting completion of a pre-feasibility study by mid-2027. While awaiting the main licence approval, the company said it has sufficient capacity under existing approved work programmes to proceed with drilling at the Obradov Potok and Jezerska Reka prospects, with preparatory works already underway.

    The permitting delay coincides with growing community opposition to the project. Local media reported protests in Novi Pazar, the city closest to Rogozna, and in recent weeks residents of nearby villages, students and environmental activists have been blocking forest roads leading to the site in an attempt to prevent further exploration activities, which they fear could lead to the opening of a mine with adverse environmental consequences.

    Strickland completed its acquisition of the project through Betoota Holdings and its Serbian subsidiary Zlatna Reka Resources in July 2024. Chinese mining giant Zijin holds a 5.55% stake in Strickland.

  • Bindi Metals to Launch Maiden Drilling at Serbia’s Ravni Gold Project in May Targeting High-Grade Surface Mineralisation

    Bindi Metals to Launch Maiden Drilling at Serbia’s Ravni Gold Project in May Targeting High-Grade Surface Mineralisation

    Australian mining company Bindi Metals will commence its first drilling programme at the Ravni high-grade gold project in Serbia’s southwestern Raska mining district in May, after securing land access across priority drilling locations, the company confirmed in an ASX filing on Wednesday.

    The maiden diamond drilling programme has been designed to test multiple high-priority targets across the Drenjak and Rujak prospects as well as several scout drilling locations. At Drenjak, the programme will focus on high-grade surface mineralisation, while Rujak will be tested for broad mineralised zones. Serbian contractor Reflex Drilling has been engaged to carry out the work.

    Ravni covers 30 square kilometres of tenure within the Western Tethyan Magmatic Belt — a prolific geological corridor that hosts numerous significant gold, copper and base metal deposits, including the Rogozna project in Serbia and the Vares deposit in Bosnia and Herzegovina. Bindi Metals began exploration at Ravni in November following a binding agreement with Belgrade-based Red Creek to acquire up to an 80% interest in the project.

    Beyond Ravni, Bindi Metals holds two further Serbian assets acquired from Apollo Minerals in 2024 — the Lisa antimony-gold project and the Mutnica antimony-copper project — giving the company a multi-commodity exploration portfolio across one of Europe’s most active mining jurisdictions.

  • MinRex and Electrum Shareholders Approve Merger to Create Gold-Copper Explorer Spanning Australia and Serbia

    MinRex and Electrum Shareholders Approve Merger to Create Gold-Copper Explorer Spanning Australia and Serbia

    Australian mining company MinRex Resources has confirmed that shareholders of its Canadian peer Electrum Discovery have overwhelmingly approved a planned merger of the two companies, paving the way for the creation of a combined gold-copper exploration group with assets across Serbia and New South Wales.

    An extraordinary shareholder vote held on 24 March returned 99.99% in favour of the transaction, with completion of the merger anticipated on or around 9 April. Under the agreed terms, Electrum’s security holders will hold a 49% stake in the merged entity, with MinRex shareholders retaining the remaining 51% controlling interest.

    First announced in January, the deal is expected to create a combined group with a market capitalisation of approximately A$28 million ($19.3 million). The merged company will bring together Electrum’s Serbian exploration portfolio with MinRex’s gold and base metals projects in Australia’s Lachlan Fold Belt, which spans approximately 438 square kilometres of tenements.

    Electrum, listed on the Toronto Stock Exchange, holds two projects in Serbia — the gold-silver Novo Tlamino and the copper-gold Timok East — both situated within the Western Tethyan Belt, a well-established and mineralised corridor known for significant gold and copper endowments. MinRex, listed on the Australian Securities Exchange, contributes its Lachlan Fold Belt holdings, a region with a strong track record of gold and base metal discoveries in New South Wales.

  • Mundoro Capital Highlights Copper Generator Model and Exploration Partnerships at PDAC 2026

    Mundoro Capital Highlights Copper Generator Model and Exploration Partnerships at PDAC 2026

    Mundoro Capital Inc. used the PDAC 2026 conference in Toronto to outline its exploration strategy focused on copper projects in Eastern Europe and the United States, emphasising the company’s use of a “generator” model designed to advance exploration while limiting shareholder dilution.

    Speaking during the event, Chief Executive Officer Teo Dechev explained that the generator model allows the company to assemble prospective land packages and develop exploration targets before bringing in larger mining companies to fund drilling and project development. This approach reduces the need for continuous equity financing while enabling exploration to move forward through partnerships.

    Mundoro Capital focuses primarily on copper opportunities in regions with strong geological potential. The company currently concentrates its exploration activities in Serbia and Arizona, where it identifies and secures land positions, compiles geological data and generates exploration targets before partnering with major mining companies.

    According to Dechev, option agreements with industry partners provide funding that can be reinvested into developing additional exploration opportunities. The strategy allows the company to build a pipeline of projects while sharing financial risk with larger operators.

    One of the most significant examples of this approach is Mundoro’s Serbian portfolio in the Timok region, a well-known copper district in eastern Serbia. The company has assembled approximately 940 square kilometres of prospective ground in the area and entered into multiple agreements with global mining company BHP.

    Under the partnership, BHP is expected to carry out systematic drilling campaigns across several exploration targets during the year, a development Dechev described as a major step forward for advancing the district’s copper potential.

  • Zijin to Lift Stake in Strickland Metals via A$55 Million Placement for Serbia Gold Project

    Zijin to Lift Stake in Strickland Metals via A$55 Million Placement for Serbia Gold Project

    China’s  is set to increase its shareholding in Australia’s  through a A$55 million institutional placement aimed at accelerating development of the Rogozna gold project in southern Serbia.

    Strickland said on Tuesday that Zijin will invest A$5 million in the placement, lifting its stake to 4.0% from 3.3%. The company plans to issue about 343.2 million fully paid ordinary shares at A$0.16 per share, according to a filing with the .

    Funds raised will support an expanded 70,000-metre drilling programme at Rogozna in 2026, with the aim of delivering updated resource estimates in late 2026 for the Shanac, Gradina and Copper Canyon deposits. Additional drilling is also planned at the Red Creek prospect following a recent discovery.

    The proceeds will further be used to advance a pre-feasibility study for Rogozna, targeted for completion in the first half of 2027. Earlier on Tuesday, Strickland reported a new high-grade gold and base metals discovery at Red Creek, its second since acquiring Rogozna in mid-2024.

    Last month, Strickland increased Rogozna’s inferred mineral resource estimate to 8.6 million ounces of gold equivalent from 7.4 million ounces, following a maiden estimate for the Gradina deposit. Rogozna comprises four exploration licences covering around 184 square kilometres and is considered a potential candidate to become one of the world’s largest undeveloped gold deposits.

    Zijin already has a significant presence in Serbia through its mining subsidiaries, operating copper and gold assets in the eastern part of the country, underscoring its growing interest in the region’s mineral potential.

  • Strickland Metals Expands Gradina Deposit with High-Grade Gold and Zinc Intercepts

    Strickland Metals Expands Gradina Deposit with High-Grade Gold and Zinc Intercepts

    Strickland Metals has reported a fresh round of encouraging drilling results from its Gradina deposit, part of the 7.4-million-ounce Rogozna gold-equivalent project in Serbia. The latest assays returned several thick gold intervals, including 49 metres at 1.4 g/t gold from 331.2m, highlighted by 14.2m at 3.2 g/t from 365.9m and 6m at 6.2 g/t from 374.2m.

    Additional results included 44.3m at 1.1 g/t gold from 479m, 61.2m at 1.1 g/t from 181.8m with a higher-grade intercept of 5.4m at 6.4 g/t from 229.5m, and 29.9m at 1.3 g/t from 527.1m. A notable 36m section revealed combined gold and zinc mineralisation, grading 1.5 g/t gold and 4.1% zinc from 250m depth.

    “Gradina continues to deliver impressive results, with this latest batch of assays continuing to expand the deposit and reinforce its importance as a key driver of the next phase of resource growth at Rogozna,” said managing director Paul L’Herpiniere.

    Eight rigs are currently drilling across the Rogozna project, three of which are dedicated to Gradina, with the aim of defining a maiden mineral resource later this year. Mineralisation remains open in all directions, both at depth and up-dip towards surface.

    The company recently uncovered a new copper-gold zone at the nearby Shanac deposit, where drilling returned grades of up to 6.8% copper and thick gold-equivalent intercepts exceeding 300 metres.

    With gold prices at record highs near US$3,870 per ounce, Strickland is pressing ahead with a 50,000m drill campaign across Rogozna in 2025, targeting resource growth at both Gradina and Shanac. The company maintains a strong financial position, holding $52.4 million in cash and liquid assets, along with a 15.7% stake in Gateway Mining.

  • Middle Island Resources Begins Exploration at Bobija Polymetallic Project in Serbia

    Middle Island Resources Begins Exploration at Bobija Polymetallic Project in Serbia

    Australian copper and gold explorer Middle Island Resources announced on Wednesday that it has commenced exploration activities at the Bobija polymetallic project in western Serbia, which is prospective for gold, silver, copper, lead, and zinc.

    “The Bobija deposit and surrounding region remains inadequately explored and offers potential for the delineation of significant polymetallic mineralisation through a systematic exploration program. Furthermore, the full extent of the gold mineralisation is yet to be fully quantified, with gold potentially representing a major component,” the company stated.

    Earlier this month, Middle Island signed a binding share sale and purchase agreement to acquire local peer Konstantin Resources, whose Serbian portfolio includes the Bobija, Priboj, and Timok projects. Together, these projects cover 620 square kilometres and are prospective for gold and copper.

    The Bobija project itself comprises six mineral licences across 208 square kilometres. Historic work in the area included exploratory underground development and multiple drilling campaigns during the 1960s and 1980s by the former Yugoslav government, focused on barium, lead, zinc, and silver. Recent limited rock chip sampling by Konstantin Resources returned promising results, including assays of up to 5.24 grams per tonne of gold, 120 g/t of silver, 4.66% zinc, and 4.36% lead.

    Middle Island will seek shareholder approval for the acquisition of Konstantin Resources at a meeting scheduled for late October. The projects are located within the Western Tethyan Belt, a globally significant mineral province hosting major deposits such as Zijin Mining’s Čukaru Peki and Dundee Precious Metals’ Čoka Rakita in Serbia, as well as Rio Tinto’s Jadar project and Dundee’s Vareš project in Bosnia and Herzegovina.

  • Strickland Metals Reports Further High-Grade Gold Hits at Serbia’s Rogozna Project

    Strickland Metals Reports Further High-Grade Gold Hits at Serbia’s Rogozna Project

    Australian miner Strickland Metals has announced a fresh series of high-grade gold intercepts at the Gradina prospect, part of its expansive Rogozna gold and base metals project in southern Serbia. The latest drill results confirm strong mineralisation at depth and bolster the company’s confidence in the site’s potential.

    Among the standout results were 34.4 metres grading 2.6 grams per tonne (g/t) of gold from a depth of 329.5 metres, including a higher-grade interval of 14.5 metres at 4.4 g/t from 332.1 metres, and another 4.0 metres at 4.0 g/t from 359.9 metres.

    “These latest results continue to demonstrate the continuity of the gold-dominant system towards the northern end of the deposit,” said Strickland Managing Director Paul L’Herpiniere. He added that further assay results are expected in the coming weeks, with a maiden Mineral Resource Estimate for Gradina targeted by late 2025.

    This marks the third set of high-grade gold intercepts from Gradina since May, reinforcing the site’s reputation as a key asset in the Rogozna portfolio. The broader Rogozna project spans 184 square kilometres and contains an estimated 7.4 million ounces of gold equivalent across four exploration licences. Strickland has said Rogozna has the potential to become one of the world’s largest undeveloped gold deposits.

    The company currently has eight drill rigs active on the project, with five focused on Gradina’s southern zone following the completion of drilling in the north.

    In April, Strickland secured a AU$5 million ($3.2 million) strategic investment from Chinese mining giant Zijin Mining Group to help accelerate development at Rogozna. That same month, Strickland completed a $37 million deal to acquire Betoota Holdings, which owns 100% of Zlatna Reka Resources — the Serbian entity holding the Rogozna project.