Austrian Apollo starts boring near Babusnica in search of copper and silver

The Australian Apollo Minerals Limited has initiated a boring program at a depth of 600 meters in the Studena location within its Belgrade Copper Project in Serbia, the company announced.

The aim is to explore a considerable copper anomaly in this location in the Babusnica area, as reported on the TipRanks website.

The so-called Belgrade Project went to the Australian company a year ago when Apollo acquired Edelweiss Mineral Exploration, registered in Serbia and previously owned by the Swiss Edelweiss Group.

In addition to Studena, the project also features the copper, gold, silver and antimony sites Donja Mutnica, Kopajska Reka and Lisa, except that, a week ago, Apollo sold the exploration rights for Lisa and Donja Mutnica to their Australian colleagues from Bindi Metals.

Apollo Minerals said at the time that they wanted to focus on the remaining two projects and that the proceeds from the sale would be used for borings in Studena which is rich with copper, but also silver.

For Studena, the license is active, whereas for Kopajska Reka, approval is pending.

The Studena site, as well as Donja Mutnica and Kopajska Reka, are located within the metallogenic zone Ridanj-Krepoljin in eastern Serbia, which is also known as a world-class porphyry copper site.

The historical tests of the surface rock chips, according to Apollo, have shown exceptional value of up to 20% copper and 1,540 ppm (parts per million) of silver, and the considerable surface copper content and silver anomalies were also recently confirmed through the explorations of the Australian company, when the tests of the rock chips showed up to 6.5% and 155 ppm of silver.

The managing director of Apollo Minerals, Neil Inwood, said when acquiring the project that he was delighted that Apollo had secured an excellent portfolio of the European field for copper exploration in the renowned Serbian Carpathian-Balkans metallogenic province, not extensively explored up till then.

– Serbia is currently the second biggest producer of cooper in Europe and I am convinced that world-scale copper discoveries in the sediments are forthcoming here – Inwood said a year ago.

B. P.

EDELWEISS MINERAL EXPLORATION DOO

Apollo Minerals

Bindi Metals

Edelweiss Mineral Exploration

Edelweiss Group AG

Neil Inwood

Studena

Lisa

Kopajska reka

Donja Mutnica

boring

copper

silver

gold

antimony

copper explorations