Minerals exploration and development company Beowulf Mining in February announced that exploration company Vardar Minerals had identified an additional copper/zinc exploration target at its Mitrovica licence in northern Kosovo, resulting in Beowulf investing a further £50 000 in Vardar.

The investment increases the company’s ownership from 41.5% to 42.2%.

Funds will be used for the testing of an automated terrain-following drone which will be used to collect magnetic and magnetic-induced polarisation (MIP) as well as magnetometric resistivity (MMR) data over priority areas at Viti and Mitrovica.  

Results from the drone surveys will be combined with three-dimensional MIP surveys to generate drill targets.

“Vardar continues to deliver exciting exploration results with the addition of another exploration target at Mitrovica.  Our understanding of the copper and gold porphyry potential at both Mitrovica and Viti continues to develop,” enthuses Beowulf CEO Kurt Budge.

He explains that porphyry deposits are very large, low-grade, polymetallic systems, which typically contain copper mineralisation alongside other metals, such as gold, silver, zinc and lead.

Mitrovica is located close to the world-class Stan Terg lead/zinc/silver mine, which dates back to the 1930s and is estimated to have produced 34-million tonnes comprising 3.5% lead, 2.3% zinc and 80 g/t silver.

A detailed soil sampling programme was undertaken in the northern portion of the Mitrovica licence with the primary objective of mapping and identifying additional, or extensions to, mineralisation associated with the Wolf Mountain target.

The area to the immediate north and north-east of the drill-tested lead/zinc mineralisation was considered a priority after field mapping programmes identified several gossans and distinctive north-west structural trends to mineralisation from the Zijaca deposit.

Field mapping and rock sampling were undertaken concurrently with soil sampling, and mapping provided greater detail for areas which, to date, have only been covered regionally along road traverses. Mapping results were also used to provide context for the soil sampling programme results.

Further mapping was also undertaken in the far northern portion of the Mitrovica licence to infill areas with sparse coverage.

A total of 955 soil samples were collected and 304 mapping site descriptions undertaken, along with 14 petrography samples and 53 rock grab samples.

Budge argues that potential exists, not only for the discovery of additional lead/zinc/silver deposits, but also for the discovery of high-level epithermal gold deposits and for copper/zinc deposits.  
 
“It is simplistic to think of these targets, which occur along a 7 km trend, in isolation. Vardar believes, however, the targets are all related to a potentially much larger porphyry style mineralised system, based on meticulous geological mapping of hydrothermal alteration and interpretation of trench, drill and soil geochemical exploration data.”
 
Results from Wolf Mountain last September added significant value in understanding the geometry of the target.

It shares many similarities to the Crnac lead/zinc deposit and the Zijaca lead/zinc deposit, which are in the same region.  Zijaca is 3.3 km south-east of Wolf Mountain along trend.
 
Initial stratigraphic holes at Viti, drilled last year, intersected the correct alteration type, returning gold and visible copper mineralisation. This indicates potential for the discovery of a mineralised copper/gold porphyry in a hitherto unexplored area. 
 
“Beowulf’s investment in Vardar added an exciting exploration arm to the company. Just over a year into the investment, Vardar management, supported by Kosovan and regional geological experts, have been able to make significant progress in Kosovo.

“We are looking forward to a busy and fruitful year with further exploration success. I look forward to keeping the market updated,” he concludes.