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Mundoro Announces Drill Program at Two of Its Licenses in Timok Serbia
Oct. 30, 2018 10:43AM PST
Base Metals Investing The drill program is being sole funded by Freeport-McMoRan 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
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.