Vancouver, British Columbia, December 9, 2024 (GLOBE NEWSWIRE) — Terra Balcanica Resources Corp. (“Terra‘or the’Company“) (CSE:TERA; FRA:UB10) likes to emphasize the polymetallic potential of its 168 km long distance² Viogor-Zanik project in eastern Bosnia, ahead of Phase II drilling results.

After approximately 2,200 m of diamond drilling completed at Chumavichi, high-grade Ag-Sb-Pb-Zn-Au mineralization has been confirmed on three targets

over 2 km long along this shallow, fault-hosted, intermediate sulfidation, polymetallic vein system (Figs. 1 and 2). At the Company’s second Viogor-Zanik target, Brezani (Figure 3), Terra discovered a gold-colored skarn starting from the surface, on top of a >1.2 km long, NE-shallowing Ag-Sb-Pb-Zn mineralized fault-hosted permeability corridor itself above an andesitic porphyry deposit (see the company’s April 11 press release^e2024). The company completed more than 1,200 m of diamond drilling in Brezani and additional borehole tests will be released soon.

The significant potential of silver (Ag) and antimony (Sb) mineralization is highlighted by the Chumavichi drilling results (Table 1) and preliminary core observation from the Brezani Phase II drilling.

Highlights

Chumavichi Ridge borehole CMVDD001 intercepted 824.2 g/ton AgEq. with 1.85 wt% Sb over 4.0 m from 29 m depth, inclusive 1,634.4 g/ton AgEq. with 3.7 wt% Sb over 2 meters;

Chumavichi Ridge borehole CMVDD002 intercepted 816.1 g/ton AgEq. over 2.0 meters;

CMVDD003, 83 meters away from CMVDD001, intercepted a vein interval of 465.5 g/ton AgEq. and 1.2 wt% Sb over 8.7 mincluded 1196.6 g/ton AgEq. with 3.5 wt.% Sb over 2.0 meters;

Borehole CMVDD005 returned 284 g/ton AgEq over 10.0 m included 895.8 g/ton AgEq with 1.8 wt% Sb over 2.0 m approximately 50 m west-northwest of CMVDD002 (Figure 2);

The Chumavichi Ridge drill hole CMVDD004 along the same drill fence, 40 m northeast of CMVDD005, returned 505.3 g/ton AgEq with 1.48 wt% Sb over 11.0 m from 43.0 m depth inclusive 3075.4 g/t AgEq (108.5 oz/t AgEq) with 9.4 wt% Sb over 1.7 m;

Shallow, polymetallic mineralization was also intersected 600 m NW of the Cumavici Ridge, where two drill holes returned through a new parallel structure 1,041 g/ton AgEq with 2.95 wt% Sb over 0.75 m2 (CMV23007), and 554 g/ton AgEq with 1.17 wt% Sb over 1.10 m (CMV23009);

Drill hole CMV23004 cross-sectioned 1,489 g/ton AgEq with 1.98 wt% Sb over 1.35 m2 from 36.2 m downhole to add 42 m strike length SE of CMVDD002 with mineralization open down-dip;

Drill hole CMV23003 cross-sectioned 557 g/ton AgEq with 0.77 wt% Sb over 4.15 m2 of 43.85 m and indicates a downslope continuation of the high-grade mineralization of CMV23004.

Hole ID	From (m)	Up to (m)	Length (m)	Au (g/t)	Ag (g/t)	Zn (%)	Pb (%)	Zb (%)	*AgEq (g/t)**
CMVDD001	29.0	33.0	4.0	0.84	131.5	4.59	2.12	1.85	824
CMVDD002	30.0	32.0	2.0	0.23	144	8.26	4.27	0.44	816
CMVDD003	89.0	97.7	8.7	0.81	105	1.17	0.70	1.20	466
CMVDD004	43.0	54.0	11.0	0.30	225	0.83	0.56	1.48	505
CMVDD005	81.0	91.0	10.0	0.78	75	0.61	0.40	0.68	284
CMV23001	11.0	15.8	4.8	1.61	132	1.51	0.57	1.56	819*
CMV23002b	22.0	25.8	3.8	0.70	124.5	5.53	2.72	0.48	549*
CMV23003	43.85	48.0	4.15	0.71	57.1	4.39	3.18	0.77	557*
CMV23004	36.2	37.55	1.35	3.49	452	3.36	2.14	1.98	1489*

Table 1.

Previously released drill core test from the Chumavichi target. The reported interval lengths are drilled lengths and not actual widths. Silver equivalents (“AgEq”) for Phase II testing marked * are recalculated based on the latest assumed metal prices of US$2,600/oz for gold (Au), US$30/oz for silver (Ag), US$1.40/oz lb for zinc (Zn), US$15.22/lb for antimony (Sb) and US$0.90/lb for lead (Pb). Metal recovery of 90% Au, 93%. Ag, 95% Sb, 94% Pb and Zn are based on published metallurgical tests of analogous intermediate sulfidation epithermal vein deposits in the region.

Figure 1. Geological map of the Chumavichi ore corridor illustrating the targets drilled, namely: Cumavici Ridge, Cumavici Crest and Joseva. The Seoce and Cumurnica targets are yet to be drilled in 2025. The yellow bands represent 1983 Yugoslav ore block segments used for non-43-101 compliant resource calculation (WGS84/UTM Zone 34N; click here to view the image).

Figure 2. Fence diagram of Phase I and II drilling completed at the Cumavici Ridge target. Polymetallic mineralization intervals are highlighted in red. The mineralization remains untested and is open to the southwest and fully open to the NW. The high-grade mineralization footprint is currently approximately 150 m (strike length) by 200 m in downdip direction (click here to view the image).

The 674 m Brezani borehole BREDD002 has been intercepted rich in base metals (Sb-Ag),

epithermal mineralization between 482.1 and 505 m depth (Figure 3). The mineralization zone consists of banded veins and massive sulphide-cemented breccias with structural and mineralogical features of epithermal deposits of low and intermediate sulphidation. The contact with the upper vein is sharp, with minimal changes continuing into the hornfels, while the footwall of the vein is degraded and heavily modified by clay. The margins of the vein host repeating bands of chalcedonian quartz, rhodochrosite, calcite, sulfides, and sulfosalts, including stibnite, pyrite, arsenopyrite, sphalerite, galena, and jamesonite. The core of the mineralized structure is dominated by hydrothermal breccia with a sulfide-quartz-carbonate cement and banded vein fragments as clasts.

The mineralized body is interpreted as coincident with the zone of increased conductivity as it shallows to NE (Figure 3). Where the coincident conductivity body and magnetic low response are associated with a N/S trending topographic depression, which grades into a steep creek. Exploration efforts in this creek have revealed numerous displays of anomalous As-Bi-Pb-Sb-Zn gossans and semi-solid specular hematite. These gossans are evidence that epithermal fluids are reaching current surface levels. It is possible that future drilling targeting this structure would intersect a series of veins and breccias in the hanging wall of the main target structure.

Figure 3. Section profile through the Brezani target integrating the location of the NE shallowing tabular mineralized structure identified in the borehole in BREDD002 between 482 and 505 m, with the magnetic scale and smoothed conductivity voxel truncated to values above 27 mS/m . The conductivity feature is interpreted as the continuation of the host structure dominated by Sb-Ag-Zn-Pb sulfides and clay in the fractured rock mass. (click here to view the image).

Qualified person

Dr. Aleksandar Miškovic, P.Geo, is the designated qualified person of the company (“QP“) for this press release within the meaning of National Instrument 43-101 Standards of Disclosure of Mineral Projects (“NI 43-101”). The QP has reviewed and validated that the information contained in this press release is factual and accurate.

About the company

Terra Balcanica is a polymetallic and energy metals exploration company focused on large-scale mineral systems in the Balkans of Southeastern Europe and northern Saskatchewan, Canada. The company has a 90% stake in the Viogor-Zanik project in eastern Bosnia and Herzegovina. The Canadian assets consist of a portfolio of options for 100% of future uranium licenses on the edge of the world-famous Athabasca Basin, including the Charlot-Neely Lake, Fontaine Lake, Snowbird and South Pendleton claim clusters. The company emphasizes responsible engagement with local communities and stakeholders. It is committed to the proactive implementation of Good International Industry Practice (GIIP) and sustainable health, safety and environmental management.

ON BEHALF OF THE BOARD OF DIRECTORS

Terra Balcanica Resources Corp.
“Aleksandar Miskovic”

Aleksandar Miskovic
Chairman and CEO

For complete information about this press release, please contact Aleksandar Miškovic at amiskovic@terrabresources.com+1 (514) 796-7577, or visit www.terrabresources.com/nl/news.

Warning

This press release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities laws (collectively, “forward-looking statements”). The use 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. Actual results may differ from the information contained herein if Due to numerous known and unknown risks and uncertainties and other factors, we do not undertake to update these forward-looking statements except as required by law.

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