The Rogozna mining area in southern Serbia has delivered another significant resource upgrade, with the Gradina deposit confirming gold quantities materially above earlier expectations. The latest mineral resource estimate indicates that Gradina alone contains more than 37 tonnes of gold, strengthening the overall investment case for the Rogozna project and reinforcing its position as one of the most promising undeveloped gold systems in the country.
According to the newly published resource data, the Gradina deposit hosts approximately 12 million tonnes of ore with an average gold grade of around 3 grams per tonne. This grade profile places Gradina firmly in the category of deposits suitable for underground mining, with geometry and continuity that support efficient extraction methods such as long-hole open stoping. On a vertical basis, the mineralized structure contains close to 100 kilograms of gold per vertical metre, a density that underpins both technical and economic attractiveness at the development stage.
The Gradina estimate represents a major contribution to the wider Rogozna resource base. With this update, total gold-equivalent resources across Rogozna’s main deposits — including Shanac, Medenovac, Copper Canyon and Gradina — now amount to roughly 267 tonnes of gold equivalent, reflecting a meaningful increase compared with previous assessments. This growth highlights the district-scale potential of Rogozna and confirms that earlier resource figures understated the system’s overall endowment.
Exploration activity remains intensive. Ongoing drilling programs are focused on testing extensions of known mineralization both laterally and at depth, particularly within a “gap zone” between established resource blocks at Gradina. These programs aim to improve resource confidence while also targeting potential expansions along an interpreted mineralized corridor extending several hundred metres. Multiple drill rigs are currently active on site, signaling continued capital commitment to advancing the project.
Beyond gold, Rogozna is characterized as a polymetallic system, with associated resources of copper, silver, lead, and zinc identified across the broader project area. This multi-metal profile enhances optionality for future development, offering potential flexibility in mine planning, processing strategies, and revenue streams depending on commodity market conditions.
From a strategic perspective, the Gradina resource upgrade strengthens Serbia’s emerging profile as a destination for mid-to-large scale precious-metal projects. The combination of grade, tonnage, and expansion potential positions Rogozna as a candidate for further economic studies, including updated scoping and pre-feasibility assessments, once drilling and resource delineation reach the next level of maturity.
The confirmation that Gradina contains substantially more gold than previously estimated underscores a recurring theme at Rogozna: systematic exploration continues to unlock value faster than expected. As drilling progresses and resource confidence improves, attention will increasingly shift from exploration upside toward development sequencing, capital requirements, and long-term production potential.
