Today, January 24, 2022,
Terra Balcanica is a Canadian polymetallic resources explorer in Vancouver, BC, Canada, focusing on the Western Tethyan Metallogenic Belt. Its main project is its 90%-owned Viogor-Zanik project, which includes four Cu-Au porphyry districts between Greece and Bosnia alone. In Serbia, its properties feature bonanza grade Pb-Zn surface geochemistry and multi-ounce gold assays from grab samples. Both license areas are drill ready.
Why Gold and Silver?
As inflation is on the rise, more and more investors are going back to their safe spots, which typically include precious metals. In fact, earlier this month, it was reported that gold had settled at a price higher than it had been "in more than eight months after a closely watched reading on the U.S. consumer-price index signaled a further slowdown in inflation at the end of 2022."
Technical analyst Clive Maund touched on his belief in gold in a late December posting. There he said, "Although gold made new dollar highs in 2020, its relative performance has hardly been impressive since on opportunity cost grounds it was far more effective to be invested in the broad stockmarket as we can readily see on the chart below, which shows gold’s dismal performance relative to the stock market since 2011. However, it does appear to have been basing relative to stocks since as far back as 2014, so this ratio looks likely to flip with gold set to greatly outperform the stock market in coming years."
Barry Dawes of Martin Place Securities also believes gold could pick up in the coming years. In a January 12th posting, he stated we may be able to see all-time highs in gold at about US$2100 very early in 2023.
In a December 15th newsletter, Goldman Sachs announced it has predicted "another banner year for commodities. Raw materials will probably be the best-performing asset class again in 2023, with returns expected to hit 43%. "
As for silver, this precious metal has been quite popular over the past couple of months. With the new demand for solar panels (in which silver is a key ingredient), the precious metal has been taking off.
Michael Ballanger of GGM Advisory Inc. spoke in a December bulletin on 2023's silver outlook. He shared this chart with his readers.
Ballanger then stated that "three powerful drivers — monetary, industrial, and supply-related — are going to come to bear upon both demand and availability of silver in 2023 and beyond."
Chen Lin of What is Chen Buying? What is Chen Selling? recently touched on silver's 2023 outlook saying, "The rising silver loading factor times explosive growth of solar panel demand will create a silver tsunami."
Terra Balcanica Extends Polymetallic Vein
January 11, 2023, Terra posted it had extended the footprint of shallow polymetallic cumavici vein at its Viogor-Zanik project in Bosnia-Herzegovina.
In light of this, Terra's chief executive officer Dr. Aleksandar Miskovic said, "The 2022 maiden drill program at Cumavici Ridge has been encouraging in confirming the hypothesis of identifying a shallow, high-grade polymetallic, epithermal vein-hosted mineralized system, while also confirming its down-dip and along-strike continuity. It is very exciting to see the Cumavici Ridge target entirely open along strike."
The company also stated that assay results from CMVDD004 and CMVDD005 would be released shortly.
Terra Intersects 0.61 G/T
Speaking of results, this morning's announcement showed Terra had made another Viogor-Zanik discovery. The Brezani target maiden drill holes intercepted 0.61 grams per tonne gold equivalent (0.61 g/t AuEq) over 88 meters (BREDD002) and 0.58 g/t AuEq over 26.6 m (BREDD001; terminated at 28.6 meters due to core loss).
The company stated that both drill holes had encountered gold mineralization from surface, confirming the extension of the 32 meters at 0.54 g/t AuEq interval detected by trenching 65 meters southeast of the drill hole collars.
Terra Balcanica also expanded its district-scale polymetallic footprint. Viogor-Zanik now features three styles of mineralization with seven metals; the Brezani gold-bearing system sits 12 km southeast of the high-grade, polymetallic (Ag, Zn, Pb, Au, Sb) Cumavici discovery, which intercepted:
- 824.2 g/t AgEq. over 4.0m, including 1634.4 g/t AgEq. over 2.0m
- 816.1 g/t AgEq. over 2.0m
- 465.5 g/t AgEq. over 8.7m, including 1196.6 g/t AgEq. over 2.0m
Hole BREDD002 was terminated in elevated gold mineralization at 215 meters depth, as the company believes the elevated gold at the end of
the drill hole to be associated with another mineralized zone.
In September, technical analyst Clive Maund rated Terra Balancia Resources as one of his top three metal stocks to buy, saying, "Terra is well positioned to break out upside."
Terra also stated the silica-chlorite-sericite altered intrusive lithologies downhole highlight the potential for porphyry-style mineralization, which will require further drill testing.
Terra stated the gold-bearing target at Brezani coincided with a resistive volume of rock above a large conductivity anomaly (> 600 m wide, > 60 mS/m) interpreted to
represent porphyry-style mineralization, which remains untested.
Along with this news, Dr. Miskovic stated, "The spatial coincidence of precious metals with a plus 1km wide magnetic anomaly and the presence of a strong electric conductor at 400m depth detected via airborne geophysics gives us confidence that we have a large potential mineralized system at our hands that will be tested with further drilling. We look forward to more assays from the 2022 program, which will be released over the coming weeks."
In September, technical analyst Clive Maund rated Terra Balancia Resources as one of his top three metal stocks to buy, saying, "Terra is well positioned to break out upside." You can read more by clicking "See More Live Data" in the data box above.
As said earlier this month, Terra Balcanica Resources plans to enter the regional SE European battery metal exploration space. Further details surrounding this development will be released around mid-March.
The company also has plans to commence a Phase 2 7,000 meter diamond core drilling program at its flagship Viogor Zanik project as divided by target:
- 4,000m at the Cumavici Ag-Zn-Pb-Au-Sb target – mineral resource definition
- 2,000m at the Brezani Au skarn/porphyry target – preliminary target definition
- 1,000m at the Olovine Mo-Cu porphyry target – preliminary target definition
They aim to begin drilling sometime in April this year and hope to push Cumavic close to the preliminary resource stage early next year. As for Brezani, the company told Streetwise they are remaining ambitious and looking to drill possibly 3000 meters and will further define how far it goes.
Terra also told Streetwise Reports that it has two licenses in Serbia that are drill ready. The company plans to do preliminary tests of those properties over the course of 2023.
Ownership and Share Structure
Streetwise Ownership Overview*
50% of the company's stock is held by management, insiders, and directors.
Among the top investors in management, CEO Dr. Aleksandar Mišković owns 12.46% of Terra's stock, with 9.16 million shares, according to Reuters. Co-founder and Director Aleksandar Ilić has 12.37%, with 9.1 million shares.
Non-Executive Chairman Giulio Bonifacio has 3.99%, with 2.93 million shares, and Director Brandon Bonifacio M.Eng., MBA is at 2.29%, with 2.15 million shares.
An estimated 50% is in retail, according to the company.
Terra Balcanica has CA$380,000 in the bank with a CA$40,000 monthly burn rate and CA$250/meter in drilling costs.
The company has a market cap of CA$6.67 million and 84.757 million outstanding shares. It trades in the 52-week range between CA$0.05 and CA$0.20.
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