Serbia Drilling Hits 788m, C$1.74M Q1 Spend on BHP Projects
BHP•Partner-funded exploration on BHP’s Timok Magmatic Complex projects cost C$1.74M in Q1 2026, with net expenditures up to C$484.6k due to an advance contractor payment. Two Skorusa East drill holes reached 499.8m and 788.3m depths, with assay results expected in June alongside ongoing AMT and gravity surveys.
1. Partnership and Funding
BHP holds option agreements on Mundoro’s Eastern Serbia licenses within the Timok Magmatic Complex. Exploration expenditures totaled C$1.74M in Q1 2026, primarily funded by partners, with recoveries of C$1.26M leading to net spend of C$484.6k after an advance contractor payment adjustment.
2. Skorusa East Drilling Progress
A two-hole, 1,000m program at Skorusa East saw hole 26-SKO-08 reach 499.8m and 26-SKO-09 extend to 788.3m, intersecting advanced argillic alteration. Integration of new mapping, geochemical data, an 800m×800m AMT survey (65% complete at Oblez) and a 400m×400m gravity survey has refined drilling targets.
3. Additional Targets and Data Integration
Work on Borsko, Trstenik and the South Timok Corridor included 3D modelling of a 1.6km×1.5km lithocap at Borsko and assay integration at Trstenik. No significant mineralization was found at Central North, prompting further license evaluation and data-driven targeting for Cu-Au epithermal and porphyry systems.
4. Next Steps and Assay Timeline
Assay results from Skorusa East holes are expected in June, with geological interpretation by August. Follow-up surface geochemistry, drilling across five targets, and remaining AMT stations aim to delineate further prospects through Q2 and into the 2026 field season.
