Minister confirms new gold vein found in eastern Serbia

TANJUG/ Ministarski savet Energetske zajednice

Serbian Mining and Energy Minister Dubravka Djedovic said on Friday that a rich gold vein had been found in eastern Serbia, confirming an earlier statement by President Aleksandar Vucic.

A ministry press release said that the gold vein was estimated to cover an area of 500 x 250 z 80 meters at the Coka Rakita site outside the town of Zagubica. “Preliminary results of technological testing showed that pure gold concentrate can be produced, more than 93 percent pure,” it said.

Minister Djedovic is quoted as saying that the gold reserves are significant in terms of amount and gold content which could prove important for the country’s economy. She added that research is still underway to confirm initial results.

The potential of the site adds value to the veins detected as part of the Timok project being realized by the Canada-based Dundee Precious Metals INC which released the first reports of the new vein.