Bindi Metals acquires pair of antimony-gold-copper projects in Serbia’s Tethyan Belt
Bindi Metals (ASX: BIM) has completed the acquisition of the Lisa and Mutnica antimony-gold-copper projects within Serbia’s Tethyan magmatic belt from Apollo Minerals (ASX: AON).
Data from previous owners of Lisa have confirmed the presence of historical high-grade mines in the area, which produced approximately 60,000 tonnes of ore grading up to 20% antimony from shallow pits between 1932 and 1951.
Historical reports from Mutnica show rock assays grading up to 4.5% antimony, while more recent soil data identifying elevated copper and other base metals have yet to be followed up by any explorer.
‘Antimony-rich assets’
Bindi chair Eddie King said the company was pleased to be taking ownership of the two projects.
“These historical antimony-rich assets have evidence of shallow past antimony production and are ideally situated to assist Europe as it faces growing supply chain vulnerabilities for critical metals,” he said.
“With antimony playing a critical role in defence and renewable energy technologies, this acquisition aligns with our focus to secure essential mineral resources for global markets.”
The Lisa project tenure is currently in the application process and covers approximately 30 square kilometres, while Mutnica’s 50.5 sq km of acreage has already been granted.
Lisa history
The Lisa project sits within the western part of the Tethyan magmatic belt, which hosts many large gold-copper-base metal deposits including the 5 million-ounce Rogozna gold project owned by Strickland Metals (ASX: STK).
Antimony sulphide and oxide mineralisation have been confirmed by petrography work and observed at surface, hosted by Cretaceous-aged Senonian limestones.
Previous work in the Lisa area notes the presence of gold alongside antimony, grading up to 2.5 grams per tonne and up to 87g/t silver.
Mr King said the licence is expected to be granted before year-end.
Mutnica location
The Mutnica project is located in the eastern portion of the Tethyan magmatic belt, 60km from the giant Cukaru Peki high-sulphidation epithermal porphyry deposit that hosts approximately 20Mt of contained copper.
The immediate area is also known to contain several copper occurrences, with the most well-known being the Javorac deposit where historical assays include 0.37% copper and 5g/t silver, together with 4.5% copper and 32g/t silver over a 1.4km strike.
Apollo conducted a soil sampling program over the far eastern portion of the Mutnica tenure in 2023 that identified several zinc-in-soil anomalies.
Capital raising
Bindi has launched a $2 million capital raising to fund drilling and exploration at the two new prospects.
The company received firm commitments from sophisticated and professional investors for the issue of 25 million ordinary shares at $0.08 each.
The placement will be conducted in two tranches and is subject to shareholder approval.