Overview
Elemental Royalty’s portfolio in Serbia initially resulted from prospect generation and organic royalty growth via the 2006 sale of its properties, including Brestovac West, for uncapped NSR royalties of 2% for gold and silver and 1% for all other metals.
Subsequently, the Company acquired 0.3625% NSR royalty interests covering the Brestovac and Jasikovo East-Durlan Potok properties, which along with Brestovac West, are included in the Timok Project controlled by Zijin Mining.
Brestovac (Cukaru Peki) Royalty
The Timok Project’s Cukaru Peki deposit, located within the Brestovac royalty, consists of high-grade, epithermal-style copper-gold mineralization referred to as the Upper Zone, and a deeper body of porphyry-style copper-gold mineralization known as the Lower Zone. Zijin has steadily advanced the Timok Project since production of the Upper Zone commenced in Q4 2021. In addition, work on the Lower Zone is ongoing to define the deposit.
Other Timok Royalty Properties
Elemental has royalty interests covering adjacent projects and other properties in the region, including:
Brestovac West, which is covered by NSR royalties of 2% for gold and silver and 1% for all other metals. The Brestovac West royalty was organically generated by the Company and contains the Corridor Zone gold prospect. It is situated directly west of Brestovac and the Cukaru Peki deposit.
Durlan Potok, which is covered by a 0.3625% NSR royalty defined under the same royalty agreement as Brestovac and is located in the Timok Magmatic Belt approximately 20km north of Brestovac and Cukaru Peki.
These royalties complement the Brestovac (Cukaru Peki) royalty and provide additional Timok Project exploration upside.
Cornerstone assets
