Gravity and Magnetic Geophysics Completed at Rekovac

Balkan Mining and Minerals Ltd (BMM or the Company) (ASX: BMM) is pleased to announce the results of its gravity and airborne magnetic geophysical survey over the southern part of the Company’s Rekovac project. Results received are extremely encouraging and reaffirms the Company’s views regarding the exploration prospectivity of the Project. The Company has acquired gravity and magnetic geophysics and measured the magnetic susceptibility and bulk density over the length of the Rekovac diamond drill core (1,238m). This new information, when combined with the lithostructural interpretation, enables the company to better and more precisely identify targets for follow up drilling.

HIGHLIGHTS

• These results have provided further encouraging and vital data in the development of the Company’s exploration programs.
• Interpretation of the gravity survey combined with the measurement of bulk density over the previous drilling core has provided more precise modelling and depth definition of the Rekovac sedimentary basin.
• The gravity survey has identified additional deep-seated faults that may have acted as pathways for mineral-bearing fluids.
• XRD and SEM sample analyses has confirmed the presence of greigite, an iron-rich magnetic sulphide, which has been found in associated boron deposits.
• This updated geophysical modelling has allowed the Company to more precisely define the targets for follow up drilling. With this new data on hand, the Company is continuing to select additional sites as part of the proposed 1,800 meter drilling campaign.
• All site preparation works have been completed at REK_003 and the Company is working towards its contracted drill rig breaking ground in the near future.

Completed Bouguer Gravity results are depicted below with the conventional colour assignment of high gravity values being identified in orange and low gravity values in blue.

A regional north-south tilted gradient has been identified, which is aligned parallel to the regional structural grain. This appears related to differential basement composition trends over a wider area and perhaps reflects a dominant oceanic crust increase westwardly toward the south and to the deep regional subduction-suture belt. The density value was determined using criteria that enabled the lowest range of anomalies and minimal correlation with topography.

Magnetic Survey Interpretations

Interpretation of the airborne magnetic survey combined with a measure of the magnetic susceptibility along the existing drill core has defined the magnetic anomaly consists of three lobes of lower magnitude. The overall magnetic field over the project area has been found to be moderately low, with values diminishing to the west of the project area, probably due to the presence of non-magnetic Cretaceous limestones, whereas, Palaeozoic basement rocks to the east produce a slightly higher magnetic signature. The basin contains values somewhere between these two domains resulting in a moderate shelf in the magnetic pattern which extends NW-SE in parallel with the basin axis as mapped from geology and as suggested by the gravity field. Within this moderate background, a two-pronged local high magnetic anomaly extends from the north flank southward and branches laterally into the basin.

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