Balamara secures exploration concession in the Balkans
ASX-listed Balamara Resources’ 80%-owned subsidiary, Western Mining Doo, has been awarded a highly prospective exploration concession in the Balkans.
Balamara will, during the next quarter, plan an initial exploration programme for the 50 km2 concession area, known as the Rajkovi´ci- Selište- ˇCelebi´ci orefield and abbreviated by the company to the RSC project, with drilling expected to start during the second half of 2013.
Historical exploration and data have revealed evidence of many occurrences of high zinc, lead and silver content in the region.
“This is a valuable new exploration project to bring into the company, and we are excited to have the opportunity to explore for a similar style of zinc-lead-silver mineralisation to that which underpins the adjacent Suplja Stijena mining operation,” said Balamara MD Mike Ralston.
The RSC project, which is situated adjacent to the Suplja Stijena zinc-lead mine, in north-western Montenegro, has the potential to contribute ore into the Suplja Stijena processing facilities. Further exploration work will determine the viability of the concept.
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