-- Mundoro Capital (MUN.V) on Thursday said drilling is underway at the "high-priority" Skorusa East target within the Central Timok project in Serbia.
The company said the project is part of the BHP-Mundoro option earn-in agreement where BHP is solely funding the exploration activities.
The company said the Exploration Technical Committee approved 1,000 meters of drilling across 1 to 2 drill holes at the Skorusa East target. It added that, upon completion, the drill rig will be relocated to the high priority Tilva Rosh South target.
"The two drill holes in the current drilling campaign are designed to test the eastern extent of Skorusa East target with approximately 1,000 meters of drilling where there are demonstrated geochemical and alteration vectors along with a coincident magnetic anomaly," added the company.
The company's shares were last seen down $0.005 to $0.42 on the TSX Venture Exchange.
Price: $0.42, Change: $-0.01, Percent Change: -1.18%