Hosted here as well Avaron Mining link

PROJECT DETAILS

The property consists of exploration licence 2422, which covers 18.9 square kilometres in south-central Serbia. It is located approximately 220 kilometres south by road from the capital city of Belgrade, near the city of Kraljevo. A network of asphalt and mainly gravel and dirt roads connect almost all parts of the property.

The Tolisnica and Stanca property has a history of intermittent exploration starting in the mid-1970s. From 1975 to 1978, the state mining company, RTB Bor, completed drilling and rock-chip sampling work. At the Stanca prospect, 13 diamond drill holes totalling 2,086.50 metres were completed, and, at the Tolisnica prospect, 15 diamond drill holes totalling 2,325.10 metres were completed.

The drill holes intersected several styles of mineralization. Results included hole SB-12, which intersected multiple vein structures within a 25.5-metre of wide zone assaying 0.945 per cent copper, including nine metres assaying 2.147 per cent copper. Hole SB-6 returned a reported 15.3-metre zone assaying 1.011 per cent copper. Cobalt grades in the historical rock chips range from several hundred parts per million to 2,000 parts per million cobalt. The cobalt appears to be associated with magnetite and chalcopyrite.

The ground magnetics survey was completed in April, 2018, by S.C. Belevion SRL, a Romanian-based geophysical contractor, over the property prospect areas.

ACQUISITION

On June 27, 2023, Avaron Mining acquired 100% ownership of the Tolisnica, Stanca property.

100 per cent of the interest of the vendor in certain mineral claims known as the Tolisnica and Stanca property, located near the city of Kraljevo, Republic of Serbia (the property).

As consideration, will pay paid a total of $125,000 to the vendor in cash payments per the schedule listed herein and make a one-time issuance of 4.3 million warrants to purchase common shares of Benz to the vendor exercisable at an exercise price of 12.5 cents per common share for a period of five years from the date of issuance. The cash payments will be made as follows: (a) $25,000 within five days of the date on which the TSX-V approves the purchase agreement (the effective date); and (b) an additional $100,000 on the 18-month anniversary of the effective date.

Benz will also make certain milestone payments to the vendor per the schedule listed herein: (a) pay the vendor $200,000 in cash within five business days of the earlier of: (i) the commencement of a scoping study on the property; or (ii) the fifth anniversary of the effective date; and (b) grant the vendor a 0.5-per-cent net smelter returns royalty within five business days of the commencement of commercial production on the property.