Esperance Minerals has received initial core recoveries from due diligence drilling at the Blagojev Kamen project in Serbia.
Blagojev Kamen is located 6 kilometers west of the giant Majdanpek porphyry copper deposit and mining area. A 17 kilometers long shear zone lies within the 51 square kilometers tenement and hosts historic high grade gold mines.
Two of the three holes from an 800 meter program that began at the Blagojev Kamen project in November have been completed. Core recoveries from the first 2 holes were positive with cores sampled and sent to the ALS Chemmex lab in Rosia Montana, Romania.
The third drill hole in this program which will be orthogonal to the twinned holes, is aimed at better defining the orientation of any mineralization. This is planned to be collared over the weekend.
ESM and project owners Murex have reached agreement to increase the due diligence program to include an additional 350 meter deep drill hole to test a gold in soil anomaly that was identified by recent first pass soil sampling. The hole will cost an additional USD 85,000 with the funds to be forwarded to Murex.
Esperance Minerals entered an agreement in 2011 to earn up to a 65% interest in the Chadine and Blagojev Kamen projects in Serbia. The agreement is with Singapore company Triton Metals International, UK company Triton Metals and TUK