
Electrum Discovery Corp. (TSX-V:ELY |FRA:R8N |OTC:ELDCF) announced the commencement of its maiden diamond drill program at the Timok East copper-gold project (“Timok East“) in Eastern Serbia. The program principally aims to test priority geological, geochemical and geophysical targets defined at the Bambino Central copper-gold anomaly, located less than 4 kilometers east from Zijin Mining’s Bor mining complex. The initial phase comprises up to 1,000 meters of drilling, with an additional 1,000 meters contingent on the results of the first phase.
Highlights:
- Phase one 1,000-meter diamond drilling program targeting Bambino Central has commenced.
- The maiden drill program aims to test the potential down-dip extensions of copper mineralization identified on surface at Bambino Central and refine additional drill targets to depth across Bambino.
- The first drillhole, BP001, is designed to test the strongest chargeability anomaly beneath surface copper anomalism across the southern portion of Bambino Central.
- The second hole, BP002 will be drilled in the central portion of Bambino Central, targeting the near surface down-dip extensions of copper mineralized quartz-li
- Emerging District: The Timok East Project is located adjacent to the Timok Magmatic Complex that hosts several operating copper and copper-gold mines, and exploration projects held by major mining companies including Zijin Mining and Dundee Precious Metals.
Dr Elena Clarici, CEO and President of Electrum commented: “We are thrilled to move into the next stage of exploration and to start our maiden drilling campaign at the Bambino Central zone of the Timok East project. Initial soil and rock chip sampling, trenching and ground geophysics have all pointed to a strong anomaly in the southern part of Timok East and drilling is the natural next step. Drilling Bambino is the first step in the broader exploration program and will provide further understanding of the largely untested 123 square kilometers Timok East Project ”
Timok East Details
The Timok East project is located on the eastern margin of the Timok Magmatic Complex (“TMC“), a world-class copper-gold district located in the Republic of Serbia. In the recent times, the TMC region has seen and continues to see significant new exploration, discoveries and investment. The Timok East project, consists of three licences: Bukova Glava, Luka and Makovište and covers some 123 square kilometers. Work to date was entirely focused on the Makovište licence where Bambino Anomaly was outlined in 2024 (see News Release 8th May 2024).
Bambino Central, the most advanced target at Timok East, spans 550 meters of strike and features highly anomalous surface copper and gold geochemistry supported by positive trenching results (See Figures 1 & 2) with underlying chargeability and resistivity anomalies at depth. It lies within the 1.8 kilometer Bambino copper and gold anomaly within which Electrum has identifiedfould additional target areas (Bambino 1, Bambino 2, Bambino 3, and Bambino 4) with significant copper and gold anomalies identified from soil and rock-chip samples (See Figure 2).
Figure 1: Geology and surface geochemistry map showing the location of the Bambino and Bambino Central anomalies within the broader target area (rock and soil results from News Releases 30th October 2024, 4th September 2024, and 3rd July 2024).
Figure 2: Planview map showing the initial 2 planned drillholes at Bambino Central, with rockchip and soil sampling results within the broader Bambino anomaly. (News release October 30th 2024).
Drill Program Summary
An initial 1,000 metre diamond drill program is planned at Bambino Central, followed by an additional 1,000 metre contingent on the results of the first phase. The program is primarily aimed at gaining insights into the sub-surface geological environment, with a focus on evaluating potential down-dip extensions of copper-gold bearing quartz-limonite stockwork mineralisation identified at surface across Bambino Central and identifying evidence for the potential presence of a large hydrothermal system at depth. This drilling will be guided by chargeability and resistivity high anomalies identified beneath Bambino Central in the High-Resolution Induced Polarization (“HIRIP“) survey.
The first of the two planned drillholes, BP001, is designed to test the strongest chargeability anomaly beneath surface copper anomalism across the southern portion of Bambino Central. Drilling from east to west also targets a deeper resistivity-high anomaly at approximately 250 meters depth, which may correspond with increased silicification, potentially linked to the outer margins of an underlying hydrothermal system (see Figures 2 & 3).
The second hole, BP002 will be drilled in the central portion of Bambino Central, targeting the near surface down-dip extensions of copper mineralised quartz-limonite stockwork that has been mapped and trenched at surface, and resistivity high anomalies identified at depth. Subsequent drillhole location and orientations will be adjusted based on initial geological interpretations from these holes, ensuring maximum targeting efficiency.
This initial phase of drilling will advance the understanding of potential mineralisation styles at Bambino Central and will add significantly to the geological understanding of the Bambino prospect. In conjunction with planned geophysical surveys, the data generated during drilling will support ongoing exploration efforts to refine additional drill targets within the northern and southern Bambino extensions, deep targets at Bambino, and define high-priority targets throughout the broader Timok East project area.
Drilling is being conducted by DRILLEX International DOO, utilizing a Cortech CSD1300 track-mounted diamond drill rig capable of angled drilling to depths exceeding 500 meters (See Figure 4).
Figure 3: Cross section showing the planned BP001 drill hole on a background of resistivity and chargeability anomalies and surface copper anomalism (News release 19th December 2024).
Figure 4. Cortech CSD1300 diamond drill rig on site preparing to drill hole BP001.
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