Terra Balcanica Discovers Silver and Antimony Dominated Epithermal Mineralization At Brezani in Bosnia and Herzegovina

Vancouver, British Columbia, Jan. 15, 2025 (GLOBE NEWSWIRE) -- Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1) is pleased to announce the discovery of a ca. 20 m wide zone of polymetallic mineralization intercepted during the Phase II drilling at the Brezani target within its principal Viogor-Zanik project in eastern Bosnia and Herzegovina.

Highlights

• Continuation of drillhole BREDD002, which returned 88 m at 0.61 g/t AuEq from surface (see company news release dated 24^th January 2023) has intercepted a substantial zone of low/intermediate sulphidation epithermal mineralization;

• A ca. 10 m zone of continuous colloform/ginguro banded quartz-carbonate-sulphide and sulphide cemented breccia (Figure 1) sits at the upper contact of a structural zone where observed epithermal veining extends for a least 20 m;

• Epithermal mineralization projects ENE towards surface following a conductivity gradient within a magnetic low and is interpreted to daylight in a topographic depression where As-Bi-Sb-Te is anomalous in soil sample assays, offering a shallower drill target (Figure 2);

• Mineralization is polymetallic (Sb-Pb-Zn +/- Au-Ag) with evidence of several mineralizing and fluid boiling events (Figure 3);

• Terminating at a depth of 674 m, the hole intercepted 118.4 m of chlorite-sericite altered diorite porphyry;

• Terra has commenced a dense soil sampling program across the multi-domain Brezani hydrothermal system to enhance the domains of gold skarn and surface expression of epithermal mineralization (Figure 4);

• Samples from BREDD002 are currently being analysed and will be reported after the internal QA/QC program has been completed and data deemed good quality.

Terra Balcanica CEO, Dr. Aleksandar Mišković, comments: “We are very excited with the Brezani discovery which adds further value to this multi-domain, polymetallic target. The significant mineralized intercept underlies the previously confirmed auriferous skarn starting from surface and overlies a porphyry system which Terra has been targeting at Viogor-Zanik from the very outset. We believe the potential of our discovery at Brezani, especially the macroscopically identified antimony sulfides, is tremendous considering the shallowing of the epithermal mineralization along a presumed fault to northeast and stratigraphic intercept below the boiling horizon which will be targeted by our future drill programs. Collectively, this is a thrilling development for Terra as we look forward to releasing the Brezani assay results shortly.”

The Company commenced redrilling BREDD002 from 215 m where 2022 drilling efforts ended in a chlorite-sericite altered diorite porphyry, returning 0.26 g/t Au and reached a depth of 674 m. The drillhole targeted a coincident magnetic and conductivity anomaly and intersected several zones of calc-silicate alteration associated with phyllic and chlorite-sericite altered diorite porphyries. A zone of epithermal mineralization within a large structure was intersected from 482.1 m downhole which marked the change into chlorite-sericite altered porphyritic diorites.

 ‎Figure 1. Photographs of three HQ3 diameter core boxes between 480.7 – 491.9 m in BREDD002. Photographs show the consistently well mineralized epithermal system which grades inwards from ginguro banded chalcedonic quartz-rhodochrosite-calcite-sulphide on the vein margins to a base metal rich central domain consisting of stibnite-sphalerite and minor galena breccia cement. Breccia is host to mineralized clasts of banded veins indicating multiple episodes of mineralization and boiling (click here to view image).

Drillcore Observations

The zone of mineralization from 482.1 m consists of banded veins and sulphide cemented breccias with characteristics of both low and intermediate sulphidation epithermal deposits. The upper vein contact is sharp with minimal alteration progressing into the hornfels, whereas the vein footwall is brecciated and hosts strong clay alteration. The margins of the vein host repeating bands of chalcedonic quartz-rhodochrosite-calcite and sulphides/sulphosalts stibnite-pyrite-arsenopyrite-sphalerite-galena-jamesonite. The centre of the structure is dominated by hydrothermal breccia with a sulphide-quartz-carbonate cement. Clasts are banded vein fragments.

BREDD002 ended at 674 m depth after 118.4 m of chlorite-sericite altered diorite porphyry intrusive. Sinuous quartz-pyrite-molybdenite veins, quartz-magnetite, anhydrite-carbonate, pyrite-chlorite, and pyrrhotite-carbonate veining is present alongside disseminated pyrite-pyrrhotite. Alteration is interpreted as strongly overprinted potassic, by chlorite-sericite. Local phyllic and strong chlorite alteration is observed associated with carbonate-arsenopyrite-bismuthinite veins. The intrusive texture is partially destroyed by the silica groundmass flooding and formation of very fine-grained biotite giving the rock a reddish brown to grey-green colouration with chlorite replacement and coarser grained muscovite mica. Hornblende phenocrysts have been replaced by biotite and magnetite.

‎ Figure 2. Section through the Brezani target illustrating conductivity and the 95^th percentile magnetic shell. Drillhole BREDD002 is shown, with a tabular conductivity feature extending in cros section to the ENE from the epithermal mineralized interval. Conductivity feature is interpreted as the continuation of the host structure with increased conductivity due to sulphide and clay within the broken rock mass. It passes through a break in the magnetics, which is further evidence of structural control (click here to view image).

  Figure 3. Photographs of core samples from the interval of epithermal mineralization. A) 482.1-482.4 m millimeter scale banded chalcedonic quartz-calcite-rhodochrosite-sulphide, B) 483.6-483.85 m calcite-rhodochrosite breccia cemented by chalcedonic quartz-sulphide crosscut by a later calcite-chalcedonic quartz-sulphide vein set, and C) 485.1-485.5 m banded quartz-calcite-sulphide vein grading into a stibnite-sphalerite sulphide breccia cement with clasts of hornfels and banded veins (click here to view image).

‎Ongoing Exploration Program

Terra is undertaking a soil survey across the Brezani target on a 20 x 100 m grid (Figure 4). Sample frequency is tighter in the E/W direction perpendicular to the gold skarn and epithermal corridor. This will build on the initial 175 x 175 m, aqua regia ICP-MS soil sampling and delineate geochemical domains. The interpreted surface expression of the newly discovered epithermal mineralization will be covered, and results will assist in targeting prospective intervals along the strike length of this structure for shallow, follow up drilling. Analysis is undertaken by an Olympus Vanta unit and monitored by quality control using blanks and certified reference materials.

Table 1. Collar locations for reported drillhole BREDD002. Coordinates and elevation were taken by local consultant surveyors using a differential GPS unit. (WGS84/UTM Zone 34N).

Figure 4. Magnetic map overlain by planned and taken soil samples of the 2023 pXRF soil survey, existing ALS analysed soil samples, geochemical contours and Phase II drillholes. The known gold skarn, and interpreted epithermal corridor are labelled, and will be differentiated based on the dense sampling grid currently in progress. (WGS84/UTM Zone 34N click here to view image).

Qualified Person

Dr. Aleksandar Mišković, P.Geo, 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”), has reviewed and validated that the information contained in this news release is 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 MiškovićPresident and CEO

For the complete information on this news release, please contact Aleksandar Mišković at [email protected], +1 (514) 796-7577, or visit 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.