Electrum Discovery Provides Spring Exploration Update and 2025 Exploration Plan for Timok East Project
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Vancouver, Canada, April 2, 2025 – TheNewswire – Electrum Discovery Corp. (“Electrum” or the “Company“) (TSX-V:ELY | FRA:R8N | OTC:ELDCF) is pleased to announce results from its Q1 2025 exploration activities at the 100%-owned Timok East copper-gold project (“Timok East“) located in eastern Serbia, including the completion of the maiden Phase 1 diamond drill program at the Bambino Central copper-gold anomaly target. The Company is also pleased to outline its exploration strategy for the remainder of 2025.
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Highlights:
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Dr Elena Clarici, CEO and President of Electrum commented: “We acquired Timok East for its strategic location near one of the world’s premier, yet largely underexplored, copper-gold belts. Leveraging the expertise, technological insights, and mentorship from BHP’s global network—gained through our selection in January for the prestigious 2025 BHP Xplor Accelerator Program—we are focusing on the most promising areas within our land package to enhance our chances of discovery. Drilling at Bambino copper-gold anomaly has confirmed mineralization typical of a copper-gold system, providing critical geological evidence that we are operating within a metal-fertile hydrothermal system. These insights are invaluable not only for advancing Bambino but also for guiding regional exploration across Timok East.”
The BHP’s 2025 Xplor Accelerator Program: Advancing a Belt-Scale Exploration Strategy
The first three months of the BHP Xplor program have enabled Electrum to develop and deploy a dual exploration strategy:
(1) a traditional junior explorer prospect-scale exploration program, while still implementing
(2) a belt-scale, mineral systems driven exploration method.
The latter approach allows the Company to understand the critical geological factors that control porphyry deposit formation in the region, with the goal of expanding the known extent of the porphyry-hosting Timok Magmatic Complex (“TMC“) eastward. The importance of this approach is immense as it could reveal a previously unrecognized porphyry belt across the Timok East Project.
As part of this mineral systems-based exploration strategy, Electrum’s key priorities include:
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Mapping deep-seated fluid and magma pathways using deep-penetrating geophysics, structural analysis, and geological modelling to better understand the evolution of mineralizing systems in the area and generate new prospective targets.
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Confirming the eastern extension of the Cretaceous-age porphyry-fertile magmatic arc, the same system that hosts the world-class Bor porphyry deposits, by integrating detailed literature reviews with lithogeochemical data, petrological studies, and geochronological studies.
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Identifying hydrothermal alteration and mineralization assemblages that act as early indicators of porphyry targets, including skarn systems and high-sulfidation epithermal mineralization, which often serve as higher level expressions of deeper porphyry centers, allowing for geochemical vectoring and efficient drill targeting.
This expanded exploration strategy marks a transformational step for the Company and positions Electrum to unlock the full potential of this highly prospective but underexplored world-class region.
The Phase 1 Drill program at Timok East
The Phase 1 drill program at Timok East consisted of two diamond drill holes BC001 and BC002, for a total of 704.4 meters, designed to test chargeability and resistivity anomalies identified beneath surface copper-gold mineralization in the late-2024 HIRIP survey (News Releases: 3rd July 2024, 4th September 2024, 30th October 2024). Both drill holes encountered isolated intervals of gold, silver, and copper mineralization.
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Gold: Assay results included 20 samples returning values between 0.1 to 0.5 g/t Au and three samples returning values from 0.5 to 1.65 g/t Au. Gold mineralization was primarily associated with quartz-arsenic-rich shear zones and pyrite bearing stockwork zones surrounding intervals of skarn (see Figure 2).
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Silver: Assay results included three samples returning between 10 to 109 g/t Ag. Silver mineralization was associated with anomalous copper values in both holes and correlated with intervals of skarn replacement.
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Copper: Assay results ranged from BDL (1 ppm) to 3,090 ppm Cu. Mineralization was linked to chalcopyrite-bearing skarn intervals and showed an association with magnetite (see Figure 3).
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Hole ID |
East |
North |
Azimuth (deg.) |
Dip (deg.) |
EOH (m) |
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BC001 |
595473 |
4886730 |
248 |
-50 |
354.30 |
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BC002 |
595322 |
4886760 |
051 |
-57 |
350.10 |
Table 1: Drill Collar coordinates and orientations of complete diamond drillholes (EPSG:32634).
Click Image To View Full Size
Figure 1: Planview map showing the locations of BC001 and BC002, with downhole lithology logging in relation to surface copper anomalism (EPSG:32634) ). Rock and soil results from NewsRelease 30th October 2024, 4th September 2024, and 3rd July 2024.
Click Image To View Full Size
Figure 2: BC001. Quartz-calcite stockwork veins in metasedimentary rock adjacent to low-grade gold mineralization (198.0 – 192.2 m at 0.13 g/t Au), and skarn magnetite replacement of metavolcanic rock with disseminated pyrite-chalcopyrite )199.2m – 200.0m at 0.31% Cu).
Figure 3: Skarn replacement of metavolcanic rock, with prominent magnetite and disseminated pyrite-chalcopyrite. BC001, 199.2-200 m at 0.31% Cu.
Figure 4: Quartz-calcite stockwork veining with hematite alteration selvedge within Chlorite-epidote altered metavolcanic unit. Minor fine-grained magnetite on vein margins; minor chalcopyrite within veinlets. Pyrite dissemination and pyrite veinlets (<1mm) present throughout. BC001, 161.1 – 161.9 m, at 0.05% Cu.
Geological Interpretation
Both drill holes intersected zones of pervasive chlorite–epidote–hematite alteration, interlayered with zones of skarn replacement featuring fine to coarse-grained garnet, amphibole, and localized magnetite (Figures 2, 3 & 4). These features are characteristic of a distal skarn environment, possibly linked to a primary hydrothermal source. Late-stage overprinting by quartz–calcite stockwork veining with minor pyrite indicates ongoing hydrothermal fluid activity beyond the primary skarn-forming phase, suggesting a prolonged, multi-phase hydrothermal system.
System-scale targeting, and data compilation has identified a prominent magnetic anomaly (Figure 6) in the western part of the Makovište license, coinciding with Phase 1 andesitic intrusive rocks at surface, shares geological and magnetic characteristics with known porphyry systems in the region. This Western Mag target, alongside the Eastern Conductive and deep resistive anomaly identified in the Initial AMT survey (Figure 7), represent compelling targets for further exploration targeting hydrothermal centers within the Broader Bambino Area.
The combination of Cu-Au mineralization, skarn assemblages, overprinting vein systems, magnetic highs, as well as deep conductive and resistive AMT anomalies identified in the area, supports the potential presence of a larger, concealed mineral system at Timok East.
Click Image To View Full SizeFigure 5: Map of newly identified targets on 100k geology background. Highlighting new targets identified from regional targeting work and the location of samples taken for assay and petrology (EPSG:32634) (rock and soil results from News Releases 30th October 2024, 4th September 2024, and 3rd July 2024).
Timok East – Next Steps
Electrum continues work on understanding the lithological, structural and genetic controls on mineralization at Timok East. Current and planned follow-up work includes:
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Additional AMT survey lines to extend coverage across the Western Mag target to define the geometry of resistive and conductive features that may be linked to concealed porphyry centres.
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Expanded surface geochemical sampling to identify any geochemically anomalous zones that correlate with the Eastern Conductor target (Figure 5). A total of 201 soil samples have been collected where the conductive zones come near to surface to investigate any associated geochemical anomalism.
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Detailed geological mapping, petrology and rockchip sampling across Bambino and the Northern Skarn (Figure 5) to refine interpretations of skarn and vein assemblages, and to identify alteration zones or mineralogical indicators that may indicate porphyry-style mineralisation across the Western Mag and Eastern Conductor targets.
These next steps aim to vector in on the primary hydrothermal driver responsible for skarn replacment on the property, to guide future targeting across the broader Timok East project area.
Click Image To View Full Size Figure 6: Historical magnetic data (analytical signal) covering the Bor Mining complex and Luka and Makovište licences, showing Phase 1 andesites from State geological maps, commonly associated with porphyry mineralisation. (EPSG:32634). Meta data for the magnetic analytic signal map layer is unknown and the map layer has not been verified.
Click Image To View Full Size
Figure 7: Cross-section profiles through a 3D inversion resistivity model from the AMT survey showing the location of Bambino targets areas in relation to the conductivity and resistivity anomalies, and locations of two drill holes (BC001 and BC002) on Profile B. (AMT results from News Release 14th of February 2025).
Core Handling & Logging
Drill core was systematically photographed, logged in detail, and measured for magnetic susceptibility. Core was cut to provide half HQ or quarter PQ core for sampling with sample lengths of between 0.5 to 2.0 meters. Core recovery for the drill holes averaged 92%. Both drill holes were sampled in their entirety.
Quality Assurance / Quality Control (QA/QC)
All logging and sampling were carried out under control of the company’s geologists. Certified Reference Materials (CRMs), blanks, and core duplicates were inserted in the sample sequence. Samples were securely transported to ALS’ facility in Bor, Serbia, for preparation using method PREP-31BY. Sample pulps were then shipped by ALS to ALS’s facility in Loughrea, Republic of Ireland, for analysis using methods Au-ICP21, ME-ICP61 and ME-OG62.
QA/QC Performance
Analysis values for CRMs and blanks inserted in the sample sequence were reviewed and checked by the Qualified Person. Blanks and CRMs were within tolerance limits and indicated no significant contamination or analytical bias. Core duplicates repeated generally within ±20% relative difference which is considered sufficient for the stage of exploration.
For more information contact:
Dr Elena Clarici, Chief Executive Officer and Director
T: +1 604 801 5432 | E: [email protected] | W: electrumdiscovery.com
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)1
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 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.
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 chip 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 are 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 because 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 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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