Timok Upper Zone Project

Timok Upper Zone Project

The high sulphidation epithermal mineralization (HSE) in the Upper Zone comprises massive sulphide, semi-massive and also vein, stockwork, dissemination and hydrothermal breccia matrix sulphide hosted by strongly altered andesite. The HSE mineralization forms a single coherent zone at depths ranging from 400m to over 800m below surface. Pyrite is the dominant sulphide mineral and covellite the principal copper mineral with lesser enargite, bornite and chalcocite occurring in veins, hydrothermal breccias, disseminations and replacement. Gold correlates with the copper sulphides preferentially occurring within pyrite bordering the copper sulphides.

The Timok Upper Zone Mineral Resource comprises an Indicated Mineral Resource of 1.7 Mt with average grades of 13.5% Cu and 10.4 g/t Au and an Inferred Mineral Resource of 35.0 Mt with average grades of 2.9% Cu and 1.7 g/t Au (Resources at 0.75% Cu cut-off grades).

The Rakita exploration ltd. company released a Preliminary Economic Assessment prepared by SRK Consulting (UK) Limited, an independent mining and geological consulting company, in accordance with the National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.

Brestovac-Metovnica Licence

The License Brestovac-Metovnica is located in the territory of the Bor and Zajecar municipalities. The exploration license covers 8662 hectares or 86.62 km². Cukaru Peki target is located 6 kilometers south of the city of Bor.

Brestovac Zapad, Leskovo & Jasikovo-Durlan potok License

Rakita also holds other licenses, Brestovac Zapad (west), Leskovo and Jasikovo-Durlan potok are located in east Serbia in the territory of the Bor, Zajecar, Zagubica and Majdanpek municipalities.

Timok Lower Zone Project

Timok Lower Zone Project



Timok Lower Zone porphyry-type mineralization is characterized by chalcopyrite-pyrite and occasional bornite and molybdenite occurring as disseminations and within quartz and quartz-magnetite stockwork veinlets. Anhydrite veins are common. Within the Lower Zone, porphyry-type potassic alteration is preserved locally but generally overprinted by sericite-clay, argillic and locally advanced argillic alteration.

The latter overprinting also locally brings covellite-pyrite mineralization. The host rocks are predominantly volcanic andesite and andesite breccias.

The Lower Zone appears to be limited to the southwest and southeast by drilling and geological considerations, but could be reasonably expected to extend to the north, and possibly to the south beneath the Upper Zone where there are no holes extending to the depths at which the Lower Zone might be expected. The top of the Lower Zone mineralization occurs at depths below surface ranging from approximately 1400 metres in the west to 750 metres in the east.

The vertical full extent of the Lower Zone is not known since several drill holes terminate in mineralization, but intervals up to 900 metres have been reported. The geometry of the Lower Zone remains to be defined by the ongoing drilling.

The underlying Lower Zone of porphyry type mineralization has not yet been modelled due to the lack of drill data and geometrical understanding, and is not included in the resource estimate.