VANCOUVER,
Nov. 20, 2014 /CNW/ - Mundoro
Capital Inc. (TSXV:MUN www.mundoro.com) ("Mundoro or the
"Company") is pleased to announce that drilling has commenced on
its 100% owned Zeleznik copper-gold exploration license. The
Zeleznik license, located at the northern portion of the Timok
Magmatic Complex, covers 60 km² and is located adjacent along the
northern license border with the Majdanpek open pit copper mine in
northeastern Serbia.
Mundoro's new drill program at Zeleznik will be for
approximately 1,000 meters over five holes, three on the West Zone
of the property and two on the East Zone (see attached Figure 1:
Zeleznik East Drill Hole Location Map and Figure 2: Zeleznik West
Drill Hole Location Map). The five drill holes will follow up on
the mapping, trench sampling, geophysics and soil geochemical work
completed throughout the year (see May 1,
2014 and January 13, 2014
press releases) and is intended to test continuation of the
encouraging results obtained at surface and extract additional
information about the geological and structural setting at
depth.
Teo Dechev, CEO and
President of Mundoro commented, "The West and East Zones at the
Zeleznik property are located just 1.8 km to the north of where
current mining is taking place at the Majdanpek mine, which is a
lateral laying porphyry deposit. The exploration results to
date from our soil geochemical sampling, ground magnetics and
trench sampling have outlined two areas with Cu-Au-Mo anomalies
that also correlate to the ground mag anomalies at depth. The
West Zone we believe is a porphyry system as trenching has
identified outcrops of andesite dikes, quartz and diorite porphyry
dikes while on the East Zone we believe that exo and endo skarn
mineralization encountered at the limestone contact with the
altered diorite intrusion might be related to a porphyry at
depth. Skarn systems are typically peripheral to a porphyry
system. We look forward to updating the market with the
results of our drill program once the core data has been logged,
assayed and interpreted."
Sampling and Analysis
All trench intercepts were obtained from continuous channel
sampling at 2 m intervals. All samples are assayed using 50 gram
fire assay with atomic absorption finish by ALS, Romania. Quality Assurance and quality control
procedures include the systematic insertion of standards and
duplicates into the sample streams. Field duplicate samples are
taken every 25 samples and standards and blanks are inserted after
every 20th sample. All data collected in the field and assay
results from the laboratories are routinely verified and entered in
an Access data base.
Soil samples were collected from "B" horizon of the
soil media by hand digging a hole from 0.1 to 0.5m. Material of
~500 grams was collected, sealed and send directly to the ALS Prep
laboratory in Bor. Samples were dried at <60°C/140F, sieve
sample to -180 micron (80 mesh) and assayed by ALS, Romania using 30 gram fire assay with atomic
absorption finish.
The technical information contained in this Press
Release has been reviewed and approved by Mr. G. Magaranov, P.
Geo., the Qualified Person as defined by National Instrument
43-101.
On behalf of the Company,
Teo Dechev, Chief
Executive Officer, President and Director
About Mundoro Capital Inc.
Mundoro is a well-funded, Canadian based,
company focused on mineral acquisition, exploration, and
development. Our primary focus is advancing our properties on the
Tethyan Belt in Southeastern
Europe. Mundoro has methodically acquired a
district-scale land position on this prolific mineral belt which
hosts significant Gold-Copper porphyry and related epithermal
deposits. Our strong project pipeline, which also includes assets
in Mexico and China, is positioned to drive long-term,
sustainable growth in order to attain production and shareholder
return.
Caution Concerning Forward-Looking
Statements
Information included, attached to or
incorporated by reference into this News Release may contain
forward-looking statements. All statements, other than statements
of historical fact, included or incorporated by reference in this
News Release are forward-looking statements, including, without
limitation, statements regarding activities, events or developments
that the Board expects or anticipates may occur in the future.
These forward-looking statements can be identified by the use of
forward-looking words such as "will", "expect", "intend", "plan",
"estimate", "anticipate", "believe" or "continue" or similar words
or the negative thereof. The material assumptions that were applied
in making the forward looking statements in this News Release
include expectations as to the Company's future strategy and
business plan and execution of the Company's existing plans. There
can be no assurance that the plans, intentions or expectations upon
which these forward-looking statements are based will occur. We
caution readers of this News Release not to place undue reliance on
forward looking statements contained in this News Release, which
are not a guarantee of performance and are subject to a number of
uncertainties and other factors that could cause actual results to
differ materially from those expressed or implied by such
forward-looking statements. These factors include general economic
and market conditions, changes in law, regulatory processes, the
status of Mundoro's assets and financial condition, actions of
competitors and the ability to implement business strategies and
pursue business opportunities. The forward-looking statements
contained in this News Release are expressly qualified in their
entirety by this cautionary statement. The forward-looking
statements included in this News Release are made as of the date of
this News Release and the Board undertakes no obligation to
publicly update such forward-looking statements to reflect new
information, subsequent events or otherwise, except as required by
law. Shareholders are cautioned that all forward-looking statements
involve risks and uncertainties and for a more detailed discussion
of such risks and other factors that could cause actual results to
differ materially from those expressed or implied by such
forward-looking statements, refer to the Company's filings with the
Canadian securities regulators available on www.sedar.com.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Mundoro Capital Inc.