Electrum Discovery Launches Spring 2025 Field Program and Confirms Extension to Surface Copper Mineralization at Timok East
Vancouver - Electrum Discovery Corp. ("Electrum" and/or the "Company") (TSX-V:ELY | FRA:R8N | OTC:ELDCF) is pleased to announce the upcoming launch of its Spring 2025 field program at the Timok East Copper-Gold Project ("Timok East" and/or the "Project"), located in eastern Serbia. The planned program is designed to refine high-priority targets through a combination of detailed geological mapping, geophysical surveys, geochemical sampling, and petrological studies. Additionally, the Company is pleased to report that it has received the assay results from rock chip sampling at the Northern Skarn target, which have confirmed the extension of copper mineralized rocks at surface over 1.7-kilometre strike zone at the Northern Skarn target (see Figure 1).
| Strategic Objectives and Exploration Framework The forthcoming field program will align with Electrum's broader strategy of advancing exploration across the Timok East Project around two complementary exploration pathways: 1. A prospect-scale program, focused on refining near-surface targets along the Bambino trend and Western Mag Target using ground magnetic surveys, petrology studies, surface geochemical sampling, geological prospecting, and further geophysical studies. This approach is designed to improve target confidence to prioritize for future drilling. 2. A mineral systems-driven approach, integrating architectural studies, deep penetrating geophysical methods, geochronological studies, extensive literature review, and data compilation. This approach aims to unlock the broader porphyry potential of the eastern boundary of the Timok Magmatic Complex, over which Electrum holds a significant land position. |
Spring 2025 Field Program at Timok East
Electrum is set to initiate its Spring 2025 field program at Timok East within the next two weeks, with a strategic focus on identifying the primary hydrothermal driver behind skarn replacement and porphyry mineralization. The results will guide the design of subsequent drill programs and support the continued expansion of Electrum's geological model across the broader Timok East project area, advancing the Company's efforts to unlock district-scale copper-gold potential.
Detailed geological mapping, combined with structural studies, and Audio-Magnetotelluric ("AMT") geophysical results (see News release February 19th, 2025), have identified a likely westerly-dipping, north-northwest striking extensional fault through the center of the Bambino locality at the southern part of Timok East. This structure, along with associated potential graben development, represents a prospective structural setting for fluid flow and magmatic-hydrothermal activity. The architecture potentially mirrors key structural controls observed in the Bor and Veliki Krivelj porphyry systems within the district (see Figures 1 & 2).
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Figure 1: Map of targets on 100k geology background, highlighting new targets identified from regional targeting work and the location of newly reported assay samples (2025) ( 2024 Rock and soil results from News Releases 30th October 2024, 4th September 2024, and 3rd July 2024) (EPSG:32634).
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To advance its geological understanding and facilitate drill targeting, Electrum is planning a series of immediate follow-up exploration programs:
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Ground Magnetics: A ground magnetic survey is planned across the Luka and Makovište permits of the Timok East Project. This work aims to refine the interpretation of magnetic anomalies, including the Western Mag Target (see Figure 1), define key fault structures that may control mineralisation and identify magnetic zones potentially associated with zones of higher temperature magnetite-rich skarn replacement along the Bambino trend.
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Geological Prospecting Geochemical Sampling: Further geological mapping, petrological analysis, and systematic rock-chip sampling are planned along the broader Bambino trend. These programs aim to improve the geological model by refining interpretations of skarn and vein assemblages, delineating alteration zones, and identifying potential mineralogical indicators that may indicate associations with concealed porphyry-style Cu-Au systems.
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Audio-Magnetotelluric (AMT) Survey: Additional AMT survey lines are planned to extend geophysical coverage over the Western Mag Target. These surveys will assist in defining the geometry of deep-seated resistive and conductive features potentially associated with porphyry intrusions, while also enhancing the understanding of deep-seated structural controls on hydrothermal fluid flow.
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Regional Data Integration: Ongoing literature review and data compilation efforts across the Timok district and the broader Western Tethyan belt aim to contextualize the evolving exploration model within a regional framework, generate new target concepts, and identify underexplored analogues that may guide future exploration strategies.
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Figure 3: Location of planned magnetic lines across Luka and Makovište on Historical magnetic data (analytical signal) covering the Bor Mining complex and Luka and Makovište licenses, showing Phase 1 andesites from State geological maps, commonly associated with porphyry mineralization. (EPSG:32634). Meta data for the magnetic analytic signal map layer is unknown and the map layer has not been verified.
Rock Chip Sampling at Northern Intrusive/Skarn Target
A total of 14 rock chip samples were collected during the latest mapping across the Northern Skarn target ("Northern Skarn") and sent for further analysis at SGS. Sampling focused on sulphide-bearing skarn replacement zones, brecciated quartz veins, hornfels, and three distinct intrusive units.
Assay results have confirmed the extension of copper mineralization at surface over a 1.7-kilometre strike length at the Northern Skarn target. Mineralization was encountered within sulphide bearing skarn alteration and gossanous quartz breccia material (see Figure 3), particularly around the contact zone between a mapped granodiorite intrusion and the surrounding Palaeozoic metasedimentary units (see Figure 1).
This style of mineralization is consistent with surface expressions observed at the Bambino prospect, with elevated gold and silver values present in most samples, reinforcing the exploration model and highlighting the potential for laterally extensive skarn replacement and structurally controlled vein hosted mineralization along the central Bambino trend. The next phase of exploration across this trend will expand surface mapping coverage between the Bambino prospect and the Northern Skarn zone with targeted petrological studies and ground magnetics aiming to vector towards potential higher-grade zones within the system. Key results include:
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5 samples returned copper values between 0.13% and 0.65% Cu
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3 samples assayed between 14 g/t and 80 g/t Ag
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1 sample returned 0.42 g/t Au
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Figure 4: Rock chip sample A2025106. Brecciated quartz vein with FeOx fracture fill where sulphides have weathered. Assaying 0.42 g/t Au, 80 g/t Ag and 0.13 % Cu.
Sample Collection, QA/QC, Preparation and Analysis
Rock chip sample locations were recorded using a Garmin handheld GPS with a nominal accuracy of 3 meters, and the location was then photographed with the labelled sample. Samples were prepared and analyzed at SGS Serbia, using a combination of four-acid digest with an MS finish (IMS40B) for a multi-element suite and 50g fire assay with an AAS finish (FAA505) for gold. Samples were submitted as a batche of 21, made up of 18 samples, one CRM, one blank, and one field duplicate. The batch passed Electrum's internal QAQC procedures.
Qualified Person
The scientific and technical contents of this news release have been reviewed and approved by Mr. Thomas Sant BSc, FGS, CGeol, EurGeol. Mr. Sant is a non-independent Qualified Person as defined by NI 43-101 and the VP, Operations, of the Company.
About Electrum Discovery Corp.
Electrum Discovery Corp. is an emerging mineral exploration and development company focused on the prolific Western Tethyan Belt with two main projects spanning 645 square kilometers of prospective exploration ground in the Republic of Serbia.
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Timok East extends over 123 square kilometers across the Timok copper-gold region and includes the recently discovered Bambino copper-gold anomaly, located less than five kilometers from the Bor Copper-Gold Mining Complex.
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Novo Tlamino, located in the south-east of the Republic of Serbia, covers 522 square kilometers and includes an inferred mineral resource estimate of 670,000oz AuEq (7,100,000t at 2.9 g/t AuEq average grade), PEA (January 7, 2021)2
Electrum Discovery is looking to maximize the value of our mineral projects for all stakeholders including our shareholders, the local community and government. We have an open-door policy and encourage all stakeholders to contact us through our website. We have a strong environmental and ethics policy to complete all our work in line with regulations in an open and transparent process. Our projects are at an early stage, and we plan to continue our consultation with all stakeholders in a climate of mutual respect, while fostering sustainability, governance, and knowledge transfer in the region.
Additional information on Electrum can be found by reviewing the Company's page on SEDAR+ at www.sedarplus.ca.
For more information contact:
Dr Elena Clarici, Chief Executive Officer and Director
T: +1 604 801 5432 | E: elena@electrumdiscovery.com | W: electrumdiscovery.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain statements contained in this news release constitute "forward-looking information" within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward-looking information. Such statements include Company's expected achievement of specified milestones, results of operations, and expected financial results of the Company. Often, but not always, this forward-looking information can be identified by the use of words such as "estimate", "estimates", "estimated", "potential", "open", "future", "assumed", "projected", "used", "detailed", "has been", "gain", "upgraded", "offset", "limited", "contained", "reflecting", "containing", "remaining", "to be", "periodically", or statements that events, "could" or "should" occur or be achieved and similar expressions, including negative variations.
Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Electrum, to be materially different from any results, performance or achievements expressed or implied by forward-looking information. Such uncertainties and factors include, among others, uncertainties inherent in the PEA and exploration results and the estimation of mineral resources; risks related to the failure to obtain adequate financing on a timely basis and on acceptable terms; changes in general economic conditions and financial markets; risks associated with the results of exploration and development activities, and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses; and such other risks detailed from time to time in Electrum's quarterly and annual filings with securities regulators and available under Electrum's profile on SEDAR+ at www.sedarplus.ca. Rock chips and surface results are early stage and there is no assurance that future exploration will find mineralization of further interest. Although Electrum has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.
Forward-looking information contained herein is based on the assumptions, beliefs, expectations and opinions of management. Forward-looking information has been made as of the date hereof and Electrum disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, investors should not place undue reliance on forward-looking information.
1 Krstekani?, N., Matenco, L., Stojadinovi?, U., Willingshofer, E., Tolji?, M., and Tamminga, D., 2022. Strain partitioning in a large intracontinental strike slip system accommodating backarc-convex orocline formation: The Circum-Moesian Fault System of the Carpatho-Balkanides. Tectonics, 41(4), p.e2021TC007178. https://doi.org/10.1029/2021TC007178
2 Preliminary Economic Assessment and NI43-101 Technical Report for the Medgold Tlamino Project, January 7, 2021, www.sedarplus.ca. The effective date of the resource estimate is January 7, 2021. Authors of the Reports are: Mr. Richard Siddle, MAIG, of Addison Mining Services Ltd for Mineral Resources; Dr. Matthew Randall, FIMMM, of Axe Valley Mining Consultants Ltd for Mining; Mr. Ian Jackson, FIMMM, of Bara Consulting for Mineral Processing, and Dr. Andrew Bamber, MCIM, of Bara Consulting Ltd for Economic Analysis.
The PEA is preliminary in nature, and it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be characterized as mineral reserves, and there is no certainty that the PEA will be realised.
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