Australian miner drops Serbian gold project

Photo: Metalstech

Australia’s Metalstech says it has termi-nated its option agreement to buy the Tlamino gold project in Serbia.


Russell Moran, the chairman of the Australian company, said that, following the divestment of its portfolio of lithium assets, the company was now focused on advancing its Sturec gold project in Slovakia.


“Unfortunately, the recently optioned Tlamino was not a fit and we have elected to terminate the proposed acquisition,” Moran was quoted in a statement. “We are also looking forward to taking ad-vantage of strong European interest in the company’s project with a potential London dual quotation being pursued”.


Metalstech says it is currently advancing diamond drilling at Sturec. The asset historically produced more than 1.5 million oz of gold and 6.7 million oz of silver worth more than US$2 billion in precious metal value, according to data from the Australian business.