Terra Balcanica Drills Multiple Polymetallic Targets and Extends Mineralized Zones in Bosnia
Vancouver, British Columbia – January 22nd 2026 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB10; OTCQB:TEBAF) is pleased to announce further assay results from the Phase III drill campaign at the Cumavici Ridge and Brezani targets within its principal Viogor-Zanik project in Bosnia and Herzegovina.
Highlights
- The Brezani drillhole BRE25001A returned 0.43 g/t Au over 55 m from 12 m below surface thus extending gold mineralization to 170 m along strike in the N-S direction. Additional intercepts include:
- 0.62 g/t Au over 2.0 m from 98.5 m;
- 0.76 g/t Au over 1.5 m from 108 m;
- 1.06 g/t Au over 3.0 m from 139 m;
- Successfully intercepting gold mineralization reinforces the multi-domain nature of Brezani as a structurally hosted, gold bearing skarn upon an epithermal, silver-antimony mineralization. Surface gold skarn at Brezani remains untested over 850 m wide soil anomaly (Figure 1). Significant shallow intercepts of gold from previous drilling were:
- 0.50 g/t Au over 88.0 m from surface (BREDD002);
- 0.27 g/t Au over 72.3 m from 22m (BRE23001);
- 0.62 g/t Au over 11.8 m from 9.8m including 1.03g/t Au over 6.65 m (BRE25004; see company news release from 20th August 2025);
- The Brezani drillhole BRE25001 intercepted polymetallic epithermal mineralization returning 60 g/t AgEq. over 6.0 m from 158 m including 95 g/t AgEq. over 3.0 m from 161 m of depth. This confirms the continuity of a steep structure 92 m NE of the BREDD002 intercept returning 436 g/t AgEq. over 19.6 m (see company news release from 20th January 2025);
- The Cumavici drillhole CMV25002 confirmed mineralization shallower than previously reported CMV25001 (Figure 2), marking continuation of the host structure and returning 186 g/t AgEq. over 0.5 m from 58.2 m (Figure 3).
Terra Balcanica’s CEO, Dr. Aleksandar (Alex) Mišković, commented:
The results from the initial stage of the Phase III drill program in Bosnia highlight extensions of the silver-dominated polymetallic and gold mineralization at both of our key targets. With increases in mineralized footprints at Cumavici and Brezani by close to 100 m along strike at each location, Terra is proving the size aspect of the shallow epithermal mineralization throughout the Viogor Zanik project. The Company is positioning itself as the holder of one of the best, silver-rich exploration assets in the Balkans and Europe. The full extent of the planned drilling meterage at Brezani is committed to as we resume testing Cumavici with rigs commencing work on location this week despite subzero temperatures.
Brezani is located 8.4 km south of the Mineco Ltd. Sase Mine which produces approximately 330 kt of lead-zinc-silver-gold concentrate per year (Figure 1). The target hosts components of a large magmatic-hydrothermal system discovered by airobrne TEM-magnetic and geochemical surveys. The BRE23001 through 23004 diamond drill holes are located within the Au-in-soil anomaly and were intended to assess lithological variability and grade of the Au skarn along strike. Additionally, the drillholes tested the resistive volume above an abrupt change into a central magnetic low shell within the general >95th percentile magnetic high anomaly to verify the lateral extent of 0.61 g/t Au Eq. In the central BREDD002 (Figure 3).
Drillhole | From (m) | To (m) | Length (m) | Au (g/t) | Ag (g/t) | Pb (%) | Sb (%) | Zn (%) | AgEq. (g/t) |
|---|---|---|---|---|---|---|---|---|---|
BRE25001A | 12.0 | 67.0 | 55.0 | 0.43 | – | – | – | – | – |
BRE25001 | 158.0 | 164.0 | 6.0 | 0.15 | 45 | 0.02 | 0.03 | 0.40 | 60 |
including | 161.0 | 164.0 | 3.0 | 0.29 | 76 | 0.03 | 0.04 | 0.25 | 95 |
283.6 | 289.5 | 5.9 | 0.26 | 12 | 0.01 | 0.11 | 0.06 | 43 | |
CMV25002 | 58.2 | 58.7 | 0.5 | 1.32 | 78 | 0.26 | 0.23 | 0.65 | 186 |
Table 1. Assay results from drillhole BRE25001 and CMV25002 with the interval lengths reported as drilled lengths, not true widths. Silver equivalents (“AgEq.”) are based on assumed metal prices of US$4,500/oz for gold (Au), US$80/oz for silver (Ag), US$1.40/lb for zinc (Zn), US$20/lb for antimony (Sb) and US$0.9/lb for lead (Pb). Assumed metal recoveries of 90% Au, 93% Ag, 95% Sb, 94% Pb and Zn are based on published metallurgical tests on analogous intermediate sulphidation epithermal vein deposits.
Brezani Phase III Drill Results
Two drillholes were completed at the Brezani Target in follow up to the discovery of polymetallic epithermal mineralization during the 2023 field season, with the intercept of 436 g/t AgEq. over 19.6 m from 482.1 m downhole in BREDD002. Both 2025 drillholes intercepted mineralised horizons associated with known skarn and epithermal systems.
Gold mineralization was confirmed again at Brezani with 0.43 g/t Au over 55 m from 12 m below surface. This correlates to the known retrograde altered skarn and calc-silicate hornfels discovered in 2022. Drilling has confirmed gold over 170 m N-S strike length (between BRE23001 and BRE25001) to date and sits within a >850 m long NW/SE trending gold in soil anomaly. The reconfirmation of thick gold intervals, just below surface is assuring, with the area still underexplored along strike. Previous gold intervals include 0.27g/t Au over 72.3 m from 22 m including 0.62 g/t Au over 7.5 m (BRE23001), 0.5g/t Au over 88.0m from surface (BREDD002) and 0.62 g/t Au over 11.8 m from 9.8 m (BRE23004).
Gold mineralization at Brezani is hosted by a chlorite-retrograde altered package of skarn and calc-silicate hornfels. The mineralised intercept in BRE25001A is composed of dioritic dykes, hydrothermal breccias and calc-silicate altered metasediments. The calc-silicates are fine to coarse grained pyroxene-garnet skarns and hornfels, with variable sulphide contents of pyrrhotite-pyrite-sphalerite-chalcopyrite and rare arsenopyrite. Highest sulphide and gold grades are observed close to the contact of diorite dykes and skarn.
The Ag-base metal epithermal mineralization was successfully intercepted in BRE25001. A series of structural zones were intercepted shallower than the anticipated target depth, indicating a steeper dip of the host structures to SW than previously interpreted. Similar banded quartz-carbonate sulphide veins were encountered, of which some were brecciated, with clasts of vein material cemented together by further quartz-carbonate-sulphide. BRE25001 returned 60 g/t AgEq. over 6.0 m from 158 m downhole.
Figure 1. Map of the 850m long gold in soil anomaly at Brezani which hosts excellent thicknesses of shallow, drill confirmed gold intercepts. The gold, hosted in skarns and calc-silicate hornfels is open along strike in all directions
Geology of the Cumavici Polymetallic Target
Drillhole CMV25002 was drilled at a shallower angle than CMV25001, which intersected 102g/t AgEq over 2.6 m. A similar thickness of structure was encountered in CVM25002, however dominated by fault gouge with clasts of sulphide mineralisation. The structure has been proven to continue towards surface and further northwest than previous drilling efforts. Follow up drilling will be conducted to the southeast, where previous drillholes returned thicker intervals of massive sulphide mineralisation within the same target structure. The Cumavici license is dominated by volcanic rocks (tuffs and pyroclastic breccias) which have been crosscut by NW-SE trending structures and are part of a large epithermal mineral system. Mineralization is silver and antimony dominant with further gold-lead-zinc (Figure 2).
The Phase III drilling has confirmed three polymetallic systems so far exploration at Cumavici: Joseva, Cumavici Crest, and the flagship vein system at Cumavici Ridge. Mineralization is characterised by sphalerite-stibnite-galena and further sulphosalts minerals which are associated with quartz and calcite veining and breccia cement. The mineralization occupies faults which crop out at surface as distinctive topographic lows, coinciding with magnetic lows and often with mineralization visible within fault gouge.
Figure 2. Photograph of PQ3 diameter core between 56.3 and 61.86m downhole in CMV25002. Dark grey clasts of Pb-Zn-Sb sulphide mineralization can be seen within fault gouge, correlating to the reported mineralized interval interval
Drillhole CMV25002 intersected the shallow target structure at Cumavici Ridge. The structure was marked by strong argillic alteration of the volcanic rocks in the hanging wall, progressing into abundant fault gouge (clay). Within the gouge interval clasts of altered tuff and sulphide mineralization was present, comprised of pyrite-sphalerite-galena-stibnite. Carbonate stringer veins were also noted.
Hole ID | Easting | Northing | Elevation (m) | Dip | Azimuth | Depth (m) | Recovery (%) |
|---|---|---|---|---|---|---|---|
CMV25002 | 360156 | 4888547 | 620 | -52.5 | 46.7 | 91.2 | 99 |
BRE25001 | 368505 | 4880085 | 892 | -71.1 | 341.3 | 306.7 | 97.8 |
BRE25001A | 368507 | 4880081 | 892 | -71.9 | 351 | 491.1 | 91.3 |
Table 2. Collar location and DDH data for the BRE25001, BRE25001A and CMV25002 drill holes reported in WGS84/UTM Zone 34N.
Figure 3. Geological map illustrating the drillholes at the Cumavici Ridge locality. The AgEq. values are labelled for selected 2022 and 2023 drill intercepts (see Company’s new releases dated 13 November 2023, 27 February 2023). Current drilling efforts confirm mineralization over 95 m NW-SE strike length. (WGS84/UTM Zone 34N);
QA/QC
Half PQ3 core samples were delivered to ALS Bor, Serbia for sample preparation and analysis at the ALS laboratory Loughrea, Ireland an ISO/IEC 17025:2017 certified testing laboratory. Sample preparation PREP-31BY method was used on all core samples. This involves crushing to 70% less than 2 mm, rotary split 1kg and pulverizing the split to greater than 85% passing 75 microns. Gold was assayed by 30g fire assay with ICP-AES finish (Au-ICP21). Analyses of silver and base metals were completed by highly oxidising digestion with HNO3, KClO3 and HBr (ASY-ORE) and the final solution in dilute aqua regia is determined by ICP-AES (ME-ICPORE). Control samples, comprising certified reference materials (CDN-ME-1811), and blanks were inserted at a rate of 10.2% and investigated as part of the company’s quality assurance and quality control program.
Qualified Person
Dr. Aleksandar Mišković, P.Geo, is the Company’s designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure of Mineral Projects (“NI 43-101”). Dr. Mišković has reviewed and validated the information contained in this news release as factual and accurate.
About the Company
Terra Balcanica is a polymetallic and energy metals exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe and norther Saskatchewan, Canada. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina. The Canadian assets comprise a 100% optioned portfolio of uranium-prospective licences at the outskirts of the world-renowned Athabasca basin: Charlot-Neely Lake, Fontaine Lake, Snowbird, and South Pendleton. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management.
On Behalf of the Board of Directors
Terra Balcanica Resources Corp.
“Aleksandar Mišković”
Aleksandar Mišković
President and CEO
For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, +1 (514) 796-7577, or visit our website at www.terrabresources.com/en/news.
Cautionary Statement
This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of any of the words “will”, “intends” and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such forward-looking statements should not be unduly relied upon. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.
Assays: