Aim-listed Beowulf Mining has increased its ownership of Kosovo explorer Vardar Minerals from 37.6% to 40.1%.
The company invested a further £115 000 in Vardar, following the board’s recent “excellent” visit to Kosovo, CEO Kurt Budge said on Monday.
Vardar is active in the prospective Tethys Arc – a region experiencing increased focus following recent porphyry-related copper/gold discoveries.
The exploration company’s licences are split in three projects Mitrovica, Viti and Drazna. Mitrovica, situated in northern Kosovo adjacent to the Stan-Terg lead/zinc/silver mine, exhibits alteration typical of porphyry-epithermal systems.