Electrum Discovery extends geochemical footprint and confirms new gold targets at Karamanica Prospect, Novo Tlamino Project, Serbia
Electrum Discovery Corp. [TSXV: ELY; FRA: R8N; OTC: ELDCF] reported results from its recent historic data review and field prospecting program at the Karamanica Prospect, part of its Novo Tlamino Project in south Serbia.
Novo Tlamino is located on the Serbo-Macedonian Metallogenic Belt, one of the most prospective yet underexplored mineral belts in southeast Europe. This belt is renowned for hosting a diverse range of mineral deposit types, including epithermal gold systems, skarn and carbonate replacement deposits (CRDs), and porphyry copper-gold deposits.
“Previous work across the Karamanica Prospect has highlighted a significant surface geochemical soil anomaly, with rock sample grades up to 11.10 g/t Au, 117 g/t Ag, 5.74% Cu, 5.18% Zn and 1.96% Pb, underlining the exceptional prospectivity of the broader Novo Tlamino Project,” said Dr. Elena Clarici, CEO of Electrum Discovery. “Our ongoing work at Karamanica is providing a clearer geological model and highlighting the potential for both structurally controlled gold-base metal mineralized veins and skarn or carbonate replacement style mineralization. We look forward to integrating the latest assay and petrological results to refine targets for the next phase of exploration at Novo Tlamino.”
The Karamanica Prospect, part of the Novo Tlamino Project, is located approximately 8 km to the west of Electrum’s existing Barje deposit which contains an inferred mineral resource of 670,000 oz AuEq (7.1 Mt at 2.5 g/t Au and 38 g/t Ag containing 570,000 oz Au and 8.8 Moz of Ag).
The prospect covers approximately 12 km2 on the southern flank of the Crnook Dome complex, a detachment fault which a key regional structure and a comparable geological setting to the Barje deposit.
An extensive soil geochemical survey completed in 2019 delineated broad zones of multi-element anomalism, with a gold anomaly spanning approximately 3 km2.
Electrum recently completed a detailed geochemical and field-based review of the Karamanica area to refine its exploration strategy, prioritize, and advance the most prospective targets toward future drill testing.
Geochemical Zonation and Target Styles: Electrum’s analysis and reinterpretation of geochemical data delineated two spatially and geochemically distinct gold associations: Type A Anomalous Trend: Au-As-Sb-Ag-Tl and Type B Anomalous Trend: Au-Pb-Zn-Cu.
The primary Type A anomalous trend defines a >2 km NW-striking corridor that may represent the upper levels of a continuation of the base-metal mineralized vein system at the nearby polymetallic Pb-Zn-Cu Podvirovi Mine owned by Mineco Limited. A secondary ENE-striking Type A anomalous trend coincides with the Crnook detachment fault, a structural setting potentially analogous to the Barje deposit, and a high-priority for follow up exploration.
Type B anomalism is concentrated across two main zones in the northeast of Karamanica and spatially correlates with mapped units of calc-schists. The Pb-Zn-Cu-Au signature and identification of outcropping gossan and breccia zones suggests the potential for vein-hosted mineralisation similar to the Podvirovi mine, but also suggests prospectivity for skarn or carbonate replacement style mineralisation where the anomalies overlie carbonate bearing lithologies.
Recent field mapping confirmed that the Type B anomalous trend corresponds with a series of NW-SE trending gossan zones or brecciated fault structures hosted within outcropping calc-schists. These features, coupled with evidence of porphyritic quartz latite intrusive activity, support a model for vein or carbonate replacement mineralization.
In the western portion of the licence, a previously unrecognised ENE-WSW trending zone with jasperoid quartz and gossan was identified, coinciding with the Type A anomalous trend parallel to the mapped Crnook Detachment surface. Rock chip samples collected along this structure aim to assess its potential for significant mineralisation and to confirm the source of the surrounding Au-in-soil anomalism.
Twenty rock chip samples were submitted for assay and eight additional specimens were selected for petrological analysis to characterize breccias and altered intrusive observed in the field.
In support of ongoing target refinement, Electrum’s geological team reassessed drill core from the 2019 drilling campaign. Thirteen core specimens were collected and submitted to the University of Belgrade for petrological analysis. Specimens were selected from altered intrusive, sulphide-bearing veins, and calc-schists to investigate the relationship between intrusive phases, alteration styles, gold and lead-zinc-silver mineralisation.
Historic mine records from the nearby Podvirovi deposit, along with local mapping, suggest that the contact zones between intrusive phases and their host units represent zones of high prospectivity. Improved understanding of these relationships will help refine future drill targets.
Particular attention was given to calc-schist intervals of drill core coinciding with Type B base metal anomalism in the northeast of the prospect, where surface geochemistry suggests potential for skarn or carbonate-replacement mineralization. An interval from 77 metres to 81 metres in hole KAR008 displayed distinct visual and geochemical changes within the calc-schist sequence; select specimens of core were submitted for petrological analysis to test for skarn mineral assemblages. Confirmation of skarn formation would represent a significant advancement in the project’s exploration model and targeting strategy.
Current and upcoming exploration activities at the Karamanica Prospect are focused on: Refining the geometry of key structural corridors that may control mineralisation and evaluating the potential of gossanous and brecciated outcrops along these trends to host significant gold and base-metal mineralization.
Mapping the interaction of the structural corridors with carbonate-bearing lithologies in areas of surface geochemical anomalies to delineate zones of favourable fluid-rock interaction prospective for skarn or CRD style mineralization. Of particular interest is the Crnook Detachment fault zone, where Type A and Type B soil anomalies converge near mapped calc-schist exposures.
Results from rock chip samples and ongoing petrological work will be integrated into the evolving geological model to support the definition and ranking of future targets, and to identify potential gold and base metal mineralization linked to skarn, CRD, or structurally controlled vein systems across Karamanica.
Defined target trends at Karamanica. A key target area (~2 km2) for future exploration, covering multiple prospective structural features, soil anomalies and outcropping calc-schists, is outlined in white. (EPSG: 32634).
Electrum Discovery is focused on the prolific Western Tethyan Belt with two main projects spanning 645 km2 of prospective exploration ground in Serbia.
Timok East extends over 123 km2 across the Timok copper-gold region, includes multiple copper-gold targets and mineralized trends, and is located less than five kilometers from the Bor Mining Complex.
Novo Tlamino , located in the south-east of the Republic of Serbia, covers 522 km2 and includes an inferred mineral resource estimate of 7.1 Mt at 2.9 g/t AuEq containing 670,000oz AuEq (7.1 Mt at 2.5 g/t Au and 38 g/t Ag containing 570,000 oz Au and 8.8 Moz of Ag ), PEA.
Rock samples include grab samples of outcrop and float. Samples are selected samples and may not represent true underlying mineralization.
The PEA is preliminary in nature, and it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be characterized as mineral reserves, and there is no certainty that the PEA will be realized. A gold price of US$1,500/oz and a silver price of US$16.50/oz were used for estimation of metal equivalents. Metal equivalent factors were calculated separately for the three main material types of the mineral resource. Base Case Price US$/oz for High-Grade Breccia: gold US$1,500; Process Recovery Factor 0.858; Metal Equivalent Factor 1; for silver, Base Case Metals Price $16.50; Process Recovery Factor 0.843; Metal Equivalent Factor 0.011. Refer to original press release for Low Grade Schist and Partially Oxidized figures.
Soil sampling surveys are not definitive and results are still at an early stage of interpretation, with no guarantee of a mineral discovery. Rock samples include grab samples of outcrop and float. Samples are selected samples and may not represent true underlying mineralization.
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