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.
For detailed information on each of our exploration projects, please click to expand or collapse any of the zones below.
Latest Serbia Exploration News
June 26, 2018[pdf]Nevsun Announces Initial Inferred Resource for the Timok Lower Zone -- 1.7 Billion Inferred Tonnes Grading 0.86% Copper and 0.18g/t Gold Containing 31.5 Billion Pounds of Copper and 9.6 Million Ounces of Gold
March 26, 2018[pdf]Nevsun Reports Further Exceptional Drill Results from the Lower Zone Copper-Gold Porphyry at Timok - Initial Resource Expected by Mid-2018
January 16, 2018[pdf]Nevsun Discovers New High Grade Copper-Gold Mineralization 500 Meters East of Timok Upper Zone
December 4, 2017[pdf]Nevsun Reports Latest Timok Lower Zone Drill Results including 747 meters of 1.08% Copper
July 19, 2017[pdf]Nevsun Reports Final High Grade Infill Drill Results at Timok Upper Zone
- 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
- Nevsun is the operator for the Rakita JV.
- Exploration potential is high as the Timok copper-gold project is still 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 testing 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.
- 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.
- 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.