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Silver Co. Announces It Extended Massive, Polymetallic Sulfide Mineralization


January 12, 2023 ( Newswire) This morning Terra Balcanica Resources Corp. announced it had extended its massive, polymetallic sulfide mineralization intercepted by step-out drilling at the Cumavici target. Read more to learn what the company has planned for 2023 and what technical analyst Clive Maund rates the company.

This morning, January 11th, 2023, Terra Balcanica Resources Corp. (TERA:CSE) announced it had extended its massive, polymetallic sulfide mineralization intercepted by step-out drilling at the Cumavici target located within its 90% owned Viogor-Zanik project, Bosnia and Herzegovina.

Terra Balancia is a Canadian polymetallic resources explorer headquartered in Vancouver, BC, Canada, with an operational focus on the highly prolific Western Tethyan Metallogenic Belt.

In light of this extension, Terra CEO Dr. Aleksandar Mi?kovi? said, “The 2022 maiden drill program at the Cumavici target has been very encouraging in confirming the hypothesis of identifying a high-grade polymetallic, shallow, epithermal vein-hosted mineralized system, while also confirming its down-dip and along-strike continuity,” and noted that the company was excited to see assays from these drill holes as they “see many of the same macroscopic features that we identified in the previously released drill holes from Cumavici.”

Mi?kovi? told Streetwise Reports, “We have just scratched the surface.”

Silver a 2023 Favorite

While a precious metal of interest for many years, silver has recently been making waves as an industrial metal in the manufacturing of solar panels. As demand for more renewable energy rises, the solar panel industry is rising and bringing silver along with it. Silver demand rose to a new high in 2022, according to the Silver Insitute, and other sector followers are seeing promising signs for 2023.

Michael Ballanger of GGM Advisory Inc. also spoke in a December bulletin on 2023’s silver outlook. He shared this chart with his readers.

Ballanger then stated that “three powerful drivers – monetary, industrial, and supply-related – are going to come to bear upon both demand and availability of silver in 2023 and beyond.”

Chen Lin of What is Chen Buying? What is Chen Selling? recently touched on silver’s 2023 outlook saying, “The rising silver loading factor times explosive growth of solar panel demand will create a silver tsunami.” He went on to say, “Solar panel production will see explosive growth for decades to come,” Chen wrote in a recent essay to his readers on silver. “We are only at the beginning of the major sea change of future energy. This is very similar to electric vehicles, for example. Once the technology matures, explosive growth follows.”

Clive Maund of has seen the ebb and flow of silver in the past but believes there may be ample opportunity for silver, and commented in a recent release that “silver has been a truly awful investment since 2011, but this also means that it is grossly undervalued and it looks set to be one of the best-performing assets going forward that has the advantage of affording investors a measure of independence from the increasingly controlling and restrictive financial system that is fast bearing down on us.”

Catalysts: 7000 Meter Drilling Campaign

Terra Balcanica Resources has plans to commence a Phase 2 7,000 meter diamond core drilling program at its flagship Viogor Zanik project as divided by target:

4,000m at the Cumavici Ag-Zn-Pb-Au-Sb target – mineral resource definition
2,000m at the Brezani Au skarn/porphyry target – preliminary target definition
1,000m at the Olovine Mo-Cu porphyry target – preliminary target definition

Mi?kovi? told Streetwise Reports Terra Balcanica estimates drilling will begin sometime in April this year. He also pointed out the promise of the project. Terra has a clear license to operate moving forward and no issues on the local level. Terra has also moved beyond current ESG standards.

While a company is not required to complete a baseline environmental study, Terra understands the importance of ESG and had completed one.

Mi?kovi? stated, “We did this as ESG is of paramount importance.”

The company also plans to enter the regional SE European battery metal exploration space. Further details surrounding this development will be released around mid-2023.

In September, Clive Maund rated Terra Balancia Resources as one of his top three metal stocks to buy, saying, “Terra is well positioned to break out upside.” You can read more by clicking “See More Live Data” in the data box above.

Ownership and Share Structure


50% of the company’s stock is held by management, insiders, and directors. Among the top investors in management, CEO Dr. Aleksandar Mi?kovi? owns 12.46% of Terra’s stock, with 9.16 million shares, according to Reuters. Co-founder and Director Aleksandar Ili? has 12.37%, with 9.1 million shares. Non-Executive Chairman Giulio Bonifacio has 3.99%, with 2.93 million shares, and Director Brandon Bonifacio M.Eng., MBA is at 2.29%, with 2.15 million shares.

An estimated 50% is in retail, according to the company.

Terra Balcanica has CA$380,000 in the bank with a CA$40,000 monthly burn rate and CA$250/meter in drilling costs.

The company has a market cap of CA$6.67 million and 84.757 million outstanding shares.


1) Katherine DeGilio wrote this article for Streetwise Reports LLC. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Terra Balcanica Resources Corp. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with: None. Please click here for more information.

3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.

4) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

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