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Jadar Awards New Exploration Licences in Serbia

03/22/2021 | 05:36pm
Jadar Resources Limited announced that it has secured four new exploration licences in Serbia covering an area of 261 km2. All exploration licences are located within the Vardar belt hosting the world-class lithium - borate deposits. The Ursule and Siokovac exploration licences are adjacent to the Jadar's existing Rekovac licence where the Company's maiden drilling program identified the presence of preserved Borate and Lithium mineralisation. The Ursule licence covers the central part of the Grear Rekovac Basin (Rekovac Block) over an area of 99 km2 and is located approximately 110 km south-southeast of Belgrade. Most of the central portions of the basin were mapped as middle Miocene age sediments. The Siokovac licences cover the northern part of the Grear Rekovac Basin (Rekovac Block) and the licence area is approximately 98 km2. The central and northern part of the licenced area is covered by a younger quaternary lake and alluvial formation which overlies middle Miocene marine sediments. The target lower Miocene lacustrine sediments (Dragovo Formation) paraconformably lay under marine sediments. The middle Miocene spring aprons travertines are exposed along faulted margins in the northwestern edge of the licenced area. The travertines are one of the indicators that suggest a contribution of spring waters feeding the lake and a potential conduit for mineralising fluids. The spring aprons travertine deposits occur in association with the borate/lithium-borates deposits. The Dobrinja and Pranjani licence areas (Cacak Block) are located in western Serbia approximately 90 km south-southwest of Belgrade. The Project area is covered by two exploration licences covering approximately 64 km2 (Dobrinja 38 km2, Pranjani 26 km2) of outcropping Neogene age basins containing lithified lacustrine sediments mapped as early, middle and upper Miocene. The Dobrinja Basin is located in the southeast of the Kosjeric Basin and southwest of the Pranjani Basin. Available literature describes that the Dobrinja and Pranjani Basins are relicts of one much larger basin, which has eroded over time, leaving behind two smaller separated basins. The Pranjani Basin lies immediately northeast of the Dobrinja Basin and extends over an area of approximately 40 km2. The lake structural basin is filled by Neogene aged continental - lacustrine sediments mapped as middle Miocene. These sediments are composed mainly of marls, claystones, siltstones, ash-flow tuffs and clastics flows close to the basin margins. Highlights: Jadar has been granted four new Serbian exploration licences covering some 261 km2. The new licences are located within the Vardar Zone an emerging Tier 1 lithium borate Jurisdiction.
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