Terra Balcanica Highlights Silver, Antimony Potential of Bosnia’s Viogor-Zanik Project

Vancouver, British Columbia, Dec. 9, 2024 (GLOBE NEWSWIRE) — Terra Balcanica Resources Corp. (“Terra” or the “Pursue) (CSE:TERA; FRA:UB10) is pleased to highlight the polymetallic potential of its 168 km² Viogor Zanik Project in Eastern Bosnia Awaiting Phase II Drilling Results.

After approximately 2,200 m of diamond drilling was completed at Chumavichi, High-grade Ag-Sb-Pb-Zn-Au mineralization was confirmed at three targets
over 2 km long along this shallow, fault-hosted, intermediate sulfidation polymetallic vein system (Figures 1 and 2). At the Company’s second Viogor-Zanik target, Brezani (Figure 3), Terra discovered a gold-bearing skarn originating from and overlying the surface >1.2 km long, northeast shallow Ag-Sb-Pb-Zn mineralized fault-hosted permeability corridor itself overlies a porphyry-andesite deposit (see Company press release dated April 11).^Th2024). The Company has completed 1,200 m of diamond drilling at Brezani; additional drill hole results will be released shortly.

The significant potential of silver (Ag) and antimony (Sb) mineralization is highlighted by the Chumavichi drill results (Table 1) and the preliminary core observation from Phase II drilling at Brezani.

Highlights

Chumavichi Ridge drill hole CMVDD001 intersected 824.2 g/t AgEq. with 1.85 wt.% Sb over 4.0 m from a depth of 29 m, incl 1,634.4 g/t AgEq. with 3.7 wt.% Sb over 2 meters;

Intersected Chumavichi Ridge hole CMVDD002 816.1 g/t AgEq. over 2.0 m;

CMVDD003, 83 meters from CMVDD001, intersected a vein interval of 465.5 g/t AgEq. and 1.2 wt% Sb over 8.7 mincluding 1196.6 g/t AgEq. with 3.5 wt.% Sb over 2.0 meters;

Well CMVDD005 returned 284 g/t AgEq over 10.0 m including 895.8 g/t AgEq with 1.8 wt% Sb over 2.0 m approximately 50 m west-northwest of CMVDD002 (Figure 2);

Chumavichi Ridge well CMVDD004 along the same drill fence 40 m northeast of CMVDD005 has been returned 505.3 g/t AgEq with 1.48 wt% Sb over 11.0 m from 43.0 m depth incl 3075.4 g/t AgEq (108.5 oz/t AgEq) at 9.4 wt% Sb over 1.7 m;

Shallow polymetallic mineralization was also intersected 600 m northwest of the Cumavici Ridge, where two drill holes returned through a new parallel structure 1,041 g/t AgEq at 2.95 wt% Sb over 0.75 m (CMV23007) and 554 g/t AgEq with 1.17 wt% Sb over 1.10 m (CMV23009);

Drill hole CMV23004 average 1,489 g/t AgEq with 1.98 wt% Sb over 1.35 m of 36.2 m downhole to add 42 m of strike length southeast of CMVDD002, with mineralization open down dip;

Drill hole CMV23003 average 557 g/t AgEq with 0.77 wt% Sb over 4.15 m from 43.85 m and indicates a down-dip continuation of the high-grade mineralization of CMV23004.

Hole ID	From (m)	To (m)	Length (m)	Au (g/t)	Ag (g/t)	Zn (%)	Pb (%)	Sb (%)	*AgEq (g/t)**
CMVDD001	29.0	33.0	4.0	0.84	131.5	4.59	2.12	1.85	824
CMVDD002	30.0	32.0	2.0	0.23	144	8.26	4.27	0.44	816
CMVDD003	89.0	97.7	8.7	0.81	105	1.17	0.70	1.20	466
CMVDD004	43.0	54.0	11.0	0.30	225	0.83	0.56	1.48	505
CMVDD005	81.0	91.0	10.0	0.78	75	0.61	0.40	0.68	284
CMV23001	11.0	15.8	4.8	1.61	132	1.51	0.57	1.56	819*
CMV23002b	22.0	25.8	3.8	0.70	124.5	5.53	2.72	0.48	549*
CMV23003	43.85	48.0	4.15	0.71	57.1	4.39	3.18	0.77	557*
CMV23004	36.2	37.55	1.35	3.49	452	3.36	2.14	1.98	1489*

Table 1.
Previously released drill core results from the Chumavichi target. The interval lengths given are drill lengths, not true thicknesses. Silver equivalents (“AgEq”) for Phase II analyzes marked * are calculated based on latest assumed metal prices of $2,600/oz for gold (Au), $30/oz for silver (Ag ) and $1.40/lb for zinc recalculated (Zn), $15.22/lb for antimony (Sb) and 0.90 US$/pound for lead (Pb). Metal yield of 90% Au. 93% Ag, 95% Sb, 94% Pb and Zn based on published metallurgical tests from analogous intermediate sulfidation epithermal vein deposits in the region.

Figure 1. Geological map of the Chumavichi Ore Corridor showing drill targets, namely: Cumavici Ridge, Cumavici Crest and Joseva. The Seoce and Cumurnica targets still need to be drilled in 2025. Yellow stripes represent 1983 Yugoslav ore block segments used for non-43-101 resource calculations (WGS84/UTM Zone 34N; Click here to view the image).

Figure 2. Fence diagram of Phase I and II drilling completed at the Cumavici Ridge target. Polymetallic mineralized intersections are highlighted in red. Mineralization remains untested and open down dip to the southwest and fully open to the northwest. The footprint of high-grade mineralization is currently approximately 150 m (strike length) and 200 m down-dip (Click here to view the image).

The 674 m long Brezani hole BREDD002 was intersected rich in base metals (Sb-Ag),
epithermal mineralization between 482.1 and 505 m depth (Figure 3). The mineralized zone consists of banded veins and massive sulfide-cemented breccias with structural and mineralogical characteristics of low and medium sulfidation epithermal deposits. The contact with the upper veins is sharp and shows minimal alteration extending into the hornfels, whereas the footwall of the veins is brecciated and heavily clayey. The edges of the vein host repeating bands of chalcedony quartz, rhodochrosite, calcite, sulfides and sulfosalts, including stibnite, pyrite, arsenopyrite, sphalerite, galena and jamesonite. The core of the mineralized structure is dominated by hydrothermal breccia with a sulfide-quartz-carbonate cement and banded vein fragments as clasts.

The mineralized body is believed to coincide with the zone of increased conductivity as it flattens to the northeast (Figure 3). Where the simultaneous response of the conductivity body and the magnetic low is consistent with a N/S trending topographic depression merging into a steep stream. Exploration efforts in this stream have uncovered numerous occurrences of anomalous As-Bi-Pb-Sb-Zn spikes and semi-massive specular hematite. These gossans are evidence that epithermal fluids have reached current surface levels. It is possible that future drilling targeting this structure would intersect a series of veins and breccias in the hanging wall of the main target structure.

Figure 3. Sectional profile through the Brezani target covering the location of the northeast flat tabular mineralized structure identified in the drill hole in BREDD002 between 482 and 505 m, with the magnetic envelope and smoothed conductivity voxel limited to values above 27 mS/m. The conductivity feature is interpreted as a continuation of the Sb-Ag-Zn-Pb sulfide and clay dominated host structure within the fractured rock mass (Click here to view image).

Qualified person

Dr. Aleksandar Miškovic, P.Geo, is the Company’s designated qualified person (“QP“) for this press release as defined in National Instrument 43-101 Standards of Disclosure of Mineral Projects (“NI 43-101”). The QP has verified and confirmed that the information contained in this press release is factual and correct.

About the company

Terra Balcanica is a polymetallic and energy metals exploration company targeting large mineral systems in the Balkans of southeastern Europe and northern Saskatchewan, Canada. The company has a 90% stake in the Viogor Zanik project in eastern Bosnia and Herzegovina. Canadian assets include a 100% optioned portfolio of uranium-mining licenses bordering the world-renowned Athabasca Basin, including the Charlot-Neely Lake, Fontaine Lake, Snowbird and South Pendleton claim clusters. The company values responsible interaction with local communities and interest groups. It is committed to the proactive implementation of Good International Industry Practice (GIIP) and sustainable health, safety and environmental management.

ON BEHALF OF THE BOARD OF DIRECTORS

Terra Balcanica Resources Corp.
“Aleksandar Miskovic”

Aleksandar Miskovic
President and CEO

For complete information regarding this press release, please contact Aleksandar Miškovic at [email protected]+1 (514) 796-7577 or visit us www.terrabresources.com/en/news.

Warning notice

This press release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities laws (collectively, “forward-looking statements”). The use of the words “will,” “intends” and similar expressions are intended to identify forward-looking statements that involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed in such statements forward-looking statements may differ from those expected. Actual results may vary from the information provided herein due to numerous known and unknown risks and uncertainties and other factors. The Company believes that the expectations reflected in these forward-looking statements are reasonable. However, there can be no assurance that these expectations will prove to be correct. The Company undertakes no obligation to update these forward-looking statements, except as required by law.