Magnetic Survey Completed At Tango Lithium Project & Listing On Frankfurt Stock Exchange

Balkan Mining and Minerals Ltd (ASX: BMM; “Balkan Mining” or “the Company”) advises that it has completed a high-resolution helicopter borne geomagnetic survey of the Tango lithium project located in the Georgia Lake Area, Thunder Bay North Mining District of Ontario, Canada (the "Tango Lithium Project" or "Project").

HIGHLIGHTS

• BMM has completed a heliborne geomagnetic survey over the Tango lithium project located in the Georgia Lake Area, Ontario.
  
• A total of 192 line kilometres were surveyed during three production flights.
• The objective of the survey was to define the extent and geometry of intrusions and structures, particularly in areas concealed by overburden.
• The results will be used to understand structural fabric of the project area and design a follow-up fieldwork program.
• BMM has dual-listed on the Frankfurt Stock Exchange (“FSE"), under the code “7JL” in order to broaden the Company’s stakeholder engagement.

In total, 192 line kilometres with traverse lines were flown at N000. Survey flight lines were 50m apart, and control lines were flown with a N090 orientation, spaced every 500m.

The survey resulted in highlighting and identifying key geologic boundaries, faults and favourable structures.

The Projects residual Total Magnetic Intensity (TMI) is slightly active and varies over a range of 1,160 nT, with an average of -86 nT and a standard deviation of 60 nT.

Figure 2 – Residual Total Magnetic Intensity with equal area colour distribution

The northern half of the project area is dominated by magnetic domains with relatively settled signal variations mostly consisting of low amplitude anomalies. This is characteristic of areas dominated by meta-sedimentary or intermediate to intrusive felsic rocks. The remaining area to the south is rather characterised by active magnetic variations and stronger anomalies, which is typical of intrusive mafic rocks. The few magnetic features depicting strong magnetic low anomalies are likely caused by magnetic sources affected by remanent magnetisation.

Magnetic lineaments are variable in orientation throughout the block. They are generally trending E-W in the southern part of the project area but are more variable to the north. Some narrow anomalies striking N-S and NW-SE are found in the northern and eastern parts of the project area and possibly relate to mafic dykes.

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