Serbian Exploration Projects
Nevsun has significant exploration potential in Serbia: (1) Rakita, which includes the Timok copper-gold project, has four exploration permits in a joint venture agreement with Freeport-McMoRan (Freeport), (2) Tilva, which includes four permits that are subject to a joint venture agreement with Rio Tinto, and (3) Seven permits that are 100% owned by Nevsun.
On October 4 & 5, 2016, Nevsun hosted a site visit to Serbia. Presentations given on the visit can be found here.
For detailed information on each of our exploration projects, please click to expand or collapse any of the zones below.
Latest Serbia Exploration News
December 7, 2016 [pdf]Nevsun Reports Upper Zone Drill Results at Timok
November 22, 2016 [pdf]Nevsun Reports Lower Zone Drill Results at Timok
October 17, 2016 [pdf]Nevsun Reports 6.4% Copper and 3.2 g/t Gold Over 248 Metres at Timok
September 29, 2016 [pdf]Nevsun Advancing Pre-Feasibility Study with Major Drilling Program at Timok
- Four exploration permits (Brestovac-Metovnica, Brestovac Zapad, Jasikovo-Durlan Potok and Leskovo) in the highly prospective Timok Magmatic Complex are subject to a joint venture agreement with Freeport-McMoRan (Freeport)
- Timok Copper-Gold project is included in the JV – see here for details
- Nevsun is operator for the Rakita JV
- Exploration potential is high as the Timok copper-gold project is still found in the early stages of regional exploration.
- Highest priority targets are additional high sulphidation Cu-Au deposits with 10 km of the Timok project
- Additional targets include low sulphidation gold targets; previous drilling included 16.9m of 13.04 g/t gold near surface just west of Timok; more drill tested required
- Under the JV terms, Freeport has back-in rights to reacquire the large porphyry style deposits that meet a defined size threshold. For more details see the Freeport JV agreement in Reservoir Minerals historic disclosure at www.sedar.com.
- More on the exploration potential within the Rakita JV can be found here
- Four 100%-owned exploration permits (Nikolicevo, Kraljevica, Čoka Kupjatra and Tilva Njagra) covering approximately 218.1 square kilometres in the highly prospective Timok Magmatic Complex near the town of Bor.
- Permits subject to a joint venture agreement signed between Rio Tinto by former owner Reservoir Minerals.
- Under the terms of the joint venture agreement, Rio Tinto has the option to earn in stages up to a 75% interest by sole funding project expenditures of up to US$75 million.
- Nevsun Serbia will be the Manager of the Tilva Project until Rio Tinto exercises its right to assume the role.
- Two of the exploration permits (Nikolicevo and Kraljevica) in the eastern Timok are proximal to the active Bor high-sulphidation epithermal and porphyry copper mines and the Company’s Cukaru Peki copper-gold discovery.
- Both permits contain prospective stratigraphy covered by Upper Cretaceous sediments (including host Phase 1 andesite volcanics and key metallogenic structures)
- Two exploration permits (Tilva-Njagra and Čoka Kupjatra) in the western Timok covering occurrences of epithermal gold mineralization and extensive advanced argillic alteration in Phase 2 andesite volcanics.
- More on the exploration potential within the Tilva JV can be found here
- Nevsun has seven other exploration permits in Serbia that are 100% owned
- Four of the licenses target Kupferchiefer style sedimentary copper mineralization; soil sampling highlights large anomalies; drill testing required
- Three permits target Zn-Pb-Ag-Au sulphides, many near old or current workings
- Bobija: Reservoir hole BB-07 intersected 15.1m of 4.73% Zn, 4.23% Pb, 122 g/t Ag and 1.91 g/t Au near old Barite mine; further drill testing required
- Parlozi: major magnetic anomaly near old working with historic drill intercepts of Pb-Zn-Cu-Ag sulphide mineralization; further drill testing required
- Donja Tresnnjica: sampling of old adits returned interesting Zn-Pb-Ag-Au; early stage brownfield exploration target
- More on the exploration potential within theses projects can be found here