MinRex Resources (ASX:MRR) sharpens Timok East targeting with AMT and geochronology

MinRex Resources has reported new geophysical and geochronological results from the Timok East Copper Gold Project in eastern Serbia, where Audio Magnetotelluric surveying and age dating have refined the subsurface geological model and highlighted two priority targets beneath cover.

The work was completed by its merger partner Electrum Discovery and comes as the companies progress toward a planned combination that is expected to close in March 2026, creating a consolidated gold copper explorer with assets in the Western Tethyan Magmatic Belt.

Highlights

• Second phase AMT survey completed over the western portion of the Timok East Project

• 41 stations covering approximately 5 km by 2.5 km, integrated with earlier Bambino area survey into a single 3D resistivity model

• Two discrete zones of high conductivity identified at depths of approximately 250 m to 550 m below surface

• Targets interpreted to lie beneath Jurassic and Cretaceous limestones and sedimentary volcanic units that may mask intrusive hosts

• Andesite age dating returned 94.8 Ma ± 4.6 Ma, consistent with Late Cretaceous Timok Magmatic Complex ages

The Timok East Project comprises a package of granted exploration permits located around 10 km west of Bor, within the Western Tethyan Magmatic Belt that hosts several major porphyry copper gold systems, including the nearby Veliki Krivelj mine.

The latest AMT program, undertaken by 3D Consulting Geo GmbH, extended coverage west of the previously surveyed Bambino target and was designed to image resistivity contrasts that could indicate concealed intrusions, alteration zones and mineralised systems associated with porphyry and epithermal styles.

Using the same acquisition and processing parameters as the earlier survey, the combined datasets were inverted into a three dimensional resistivity model.

This modelling highlighted two discrete high conductivity bodies, labelled A and B, which occur either coincident with or adjacent to the Western Mag target and at depths of roughly 250 m to 550 m below surface.

Both features lie beneath sequences of Jurassic and Cretaceous limestone and sedimentary volcanic rocks, geological units that may obscure prospective intrusive centres and related mineralisation linked to the Timok Magmatic Complex.

In parallel, Electrum completed geochronological analysis of an andesitic float and subcrop sample collected from the Limestone Boundary magnetic anomaly.

U Pb dating of apatite grains returned an age of 94.8 Ma ± 4.6 Ma, overlapping with the earliest reported ages of andesite associated with mineralisation in the broader Timok Metallogenic Zone.

The company interprets this andesite as representing an early intrusive phase of Timok magmatism, extending the footprint of favourable host rocks further east into the Timok East licence area than previously recognised.

Technical Director Ian Shackleton said the integration of these datasets had materially improved the geological framework for drill targeting, noting that

“the latest AMT results received by Electrum significantly strengthens the geological model for targeting on the project, while identifying two compelling porphyry epithermal style targets under cover rocks that warrant drill testing”,

“further support the decision by MinRex to merge with Electrum to enable accelerated exploration testing across Electrum’s highly prospective Serbian copper gold assets.”

From a corporate perspective, the work at Timok East is occurring against the backdrop of a definitive arrangement under which MinRex will acquire 100% of Electrum by way of a statutory plan of arrangement.

The transaction has unanimous board support from both companies and is strongly supported by Electrum shareholders, with completion targeted for March 2026.

The merged group is expected to hold the Timok East Copper Gold Project alongside the advanced Tlamino Gold Project, positioning it within two established mineralised districts of the Western Tethyan Belt.

The combination of deep penetrating AMT geophysics and radiometric age constraints provides a coherent exploration narrative.

The identification of conductive bodies at depth beneath cover sequences, together with confirmation that Late Cretaceous andesitic magmatism extends into the project area, aligns Timok East with the regional geological architecture that hosts several large copper gold systems in the Bor district.

Importantly, the survey parameters and station spacing of approximately 500 m to 750 m are consistent with early stage conceptual targeting of porphyry style mineralisation, with the results now defining specific zones for follow up drill testing.

The Timok East results illustrate a methodical progression from regional targeting to three dimensional subsurface definition in a belt known for world class copper gold deposits.

For MinRex, the work strengthens the technical foundation of its planned Serbian portfolio ahead of the proposed merger with Electrum, while also framing a clear pathway toward drill testing of the newly identified conductive targets in 2026.

Within the broader context of ongoing exploration across the Western Tethyan Magmatic Belt, the integration of modern geophysics and geochronology at Timok East underscores the continued focus on uncovering concealed porphyry and epithermal systems beneath cover sequences that have historically limited surface expression.

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