Black Sea Copper & Gold (BLS.V), a new player on the Balkan copper-gold scene has provided exploration updates on both the Zlatusha and Kalabak properties located in Bulgaria. It also terminated the option agreement on the Alankoy property in Turkey, due to the increasingly unstable political climate in the country.
At Zlatusha, the company has completed the fall 2016 mapping and sampling program which has now outlined no less than seven (7!) copper-gold porphyry and epithermal targets. The parts of the alteration zones visible at surface indicate footprints of 2,500 x 1,200 meters and with copper samples of up to 8.3% and gold values up to 3.56 g/t, we dare to say the company’s fall exploration program at Zlatusha was quite successful. As you can see on the previous image, the seven ‘hot spots’ are spread out all over the property.
At Kalabak, in the Southern part of Bulgaria, another mapping and sampling program has been confirmed and the company’s geologists discovered three new structural zones which show characteristics typical to an epithermal environment. This reinforces the original thesis Black Sea might encounter Ada Tepe style mineralization on the property. Ada Tepe is located just 10 kilometers from Kalabak. The original resource at Ada Tepe contained 6.2 million tonnes of rock at an average grade of 4.04 g/t gold for a total of 800,000 ounces of gold.
The company will now start another mapping and sampling program which could result in a subsequent trenching program to define the potential drill targets on the property.
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The author has a long position in Black Sea Copper & Gold. Please read the disclaimer
