Mundoro Announces Drill Program at Two of Its Licenses in Timok Serbia

Mundoro Capital (TSXV:MUN) has announced two drill rigs have been mobilized to commence a drill program at the Savinac and Bacevica exploration licenses in Serbia.

The drill program is being sole funded by Freeport-McMoRan (NYSE:FCX) as part of an earn-in agreement, in which Mundoro has granted Freeport an option to earn-in to Mundoro’s Savinac and Bacevica exploration licenses located within the southern portion of the Timok magmatic complex.

President and CEO of Mundoro, Teo Dechen said:

“Based on the meters to be drilled, completion of drilling is expected in December 2018 with a release of results expected in February 2019. We are pleased to initiate as operator the first drill program sole-funded by Freeport one month after closing of the transaction.”

Click here to read the full Mundoro Capital (TSXV:MUN) press release.