Mundoro Capital (MUN-V) Mar 3rd 2019 PDAC Sunday. Strategic Alliance with The Godzilla Company: Japan Oil, Gas and Metals National (JOGMEC)
Mundoro Capital is pleased to report that it has entered into a Generative Program Agreement (the “Strategic Alliance”) in the Republic of Bulgaria (“Bulgaria”) with Japan Oil, Gas and Metals National Corporation ("JOGMEC").
The purpose of this Strategic Alliance is to establish a generative program between Mundoro and JOGMEC, whereby Mundoro will carry out mineral exploration activities in Bulgaria under the direction of a joint Technical Committee with the view to identifying areas of interests that merit additional exploration and/or development work. JOGMEC will solely fund the Strategic Alliance. The term of the generative program under this Strategic Alliance continues until December 31, 2019, subject to extension with consent of both parties. Upon JOGMEC determining that one or more properties merit additional exploration and/or development work, JOGMEC has the right to establish a joint venture on that property with Mundoro.
Teo Dechev, CEO and President of Mundoro commented, “We are very pleased to expand our relationship with JOGMEC for project generation in Bulgaria. This Strategic Alliance between Mundoro and JOGMEC is a natural progression for further exploration along the Tethyan belt. Mundoro is pleased to continue to work with JOGMEC which has a strong reputation as a long term, strategic partner in mineral projects globally. We believe that local knowledge and experience are essential components of operating in a foreign jurisdiction such as Bulgaria, and Mundoro has successfully demonstrated its capacity in this regard by securing exploration contracts and operating two exploration licenses in Bulgaria since 2012.”
About Bulgaria
Bulgaria has a long-established mineral resources industry that Mundoro believes will provide opportunity for investors with a long-term view into this precious metals belt. Bulgaria has three mineral belts that comprise the Tethyan Metallogenic Belt: (i) Northern Proterozoic Belt (Balkan Belt); (ii) Central Cretaceous Belt (Srednogorie Belt); and (ii) Southern Tertiary Belt (Rhodopean Belt). The Srednogorie Belt has copper-gold porphyry and epithermal deposits while the Balkan belt has potential for copper massive sulphide, Pb-Zn and Fe deposits. The Tertiary Belt to south is well known for Pb-Zn polymetallic deposits and more recently for Au epithermal deposits as well as porphyry copper deposits.
The Srednogorie Belt hosts the Panagyurishte district where the Bulgaria’s most important porphyry and epithermal Cu-Au deposits are located. Significant examples are Elatsite, Asarel, Medet and Tzar Asen porphyry deposits and the Chelopech, Krassen, Radka and Elshitsa epithermal deposits some of which are active mining operations during the last 50 years. Currently in production are Elatsite, Asarel and Chelopech.
The Rhodopiean Tertiary belt hosts the Madan district which has several Pb-Zn polymetallic replacement deposits in operation. The eastern Rhodopian belt is an emerging belt for low sulphidation epithermal gold deposits with the Chala mine and two developing projects Ada tepe and Rozino.
About JOGMEC
JOGMEC was established in February 2004, following the integration of the former Japan National Oil Corporation (JNOC) and Metal Mining Agency of Japan (MMAJ). It is a corporation under the Japanese Ministry of Economics, Trade and Industry (METI), with a mandate of investing in developing minerals projects worldwide to help secure a stable supply of natural resources for Japanese industry.
About Mundoro
Mundoro is a Canadian mineral exploration and development public company focused on building value for its shareholders through directly investing in mineral projects that have the ability to generate future returns for shareholders. The Company holds a diverse portfolio of projects in Serbia and Bulgaria as well as an investment in a producing gold mine in Bulgaria. There are eight licenses in Serbia, four of which are optioned to JOGMEC, two licenses are optioned to Freeport-McMoRan Exploration Corporation and two licenses are available for joint venture. Mundoro’s common shares trade on the TSX Venture Exchange under the symbol "MUN".
Qualified Person
Technical information contained in this Press Release has been reviewed and approved by Mr. G. Magaranov, P. Geo., Qualified Person as defined by National Instrument 43-101.
On behalf of the Company,
Teo Dechev, Chief Executive Officer, President and Director
For further information please contact:
Teo Dechev, CEO, President and Director of Mundoro Capital Inc. at +1-604-669-8055
mundoro.com |
