# Mining News in Serbia

Canonical page: https://atlas-staging.minestarters.com/news?regions=serbia

Atlas summarizes and classifies mining-industry stories from third-party publishers. Follow each source link for the original reporting.

Results: 36
Returned: 10
Coverage: drill results, resource updates, and metallurgy; primary commodity matching; all time unless dates are supplied.
Region: Serbia (serbia)
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## Boron One boosts Serbia project economics in updated study

- Atlas analysis: [Read analysis](https://atlas-staging.minestarters.com/news/boron-one-boosts-serbia-project-economics-in-updated-study--eed27513-e73b-4cc5-9f9b-d62bb1293bc0) · [Markdown](https://atlas-staging.minestarters.com/news/boron-one-boosts-serbia-project-economics-in-updated-study--eed27513-e73b-4cc5-9f9b-d62bb1293bc0.md)
- Original announcement: 2026-10-14T21:10:00.000Z
- Atlas analysis published: 2026-10-14T21:23:26.294Z
- Atlas analysis updated: 2026-10-14T21:23:26.294Z
- Company: Boron One Holdings (BONE)
- Original source: [miningcom](https://www.mining.com/boron-one-boosts-serbia-project-economics-in-updated-study/)
- Atlas sentiment: 0.325
- Atlas tags: Resource Update, PEA-Supporting

Boron One Holdings has released an updated Preliminary Economic Assessment (PEA) for its Piskanja boron project in Serbia, forecasting an improved after-tax IRR of 89% and an NPV of $558.8 million. While the project's mine life has decreased from 16 to 13 years, the updated study shows higher projected annual revenues and a rapid payback period of less than one year.

## Boron One Announces Positive Preliminary Economic Assessment (PEA) for Its Piskanja Boron Project

- Atlas analysis: [Read analysis](https://atlas-staging.minestarters.com/news/boron-one-announces-positive-preliminary-economic-assessment-pea-for-its-piskanj--a14be6d3-3a0b-4669-a114-d2a87c65537d) · [Markdown](https://atlas-staging.minestarters.com/news/boron-one-announces-positive-preliminary-economic-assessment-pea-for-its-piskanj--a14be6d3-3a0b-4669-a114-d2a87c65537d.md)
- Original announcement: 2026-10-14T18:41:05.000Z
- Atlas analysis published: 2026-10-14T14:25:10.757Z
- Atlas analysis updated: 2026-10-14T14:25:10.757Z
- Company: Boron One Holdings Inc. (BONE)
- Original source: [jmn](https://www.juniorminingnetwork.com/junior-miner-news/press-releases/1256-tsx-venture/bone/212878-boron-one-holdings-inc-announces-positive-preliminary-economic-assessment-pea-for-its-piskanja-boron-project.html)
- Atlas sentiment: 0.738
- Atlas tags: PEA-Supporting, NI 43-101 Compliant, QP/CP Signed, Measured Resource, Indicated Resource, Resource Update, Cut-off Disclosed

Boron One announced positive results from an updated Preliminary Economic Assessment (PEA) for its wholly-owned Piskanja Boron Project in Serbia. The PEA outlines a robust economic case with a post-tax NPV8 of $638.8 million and an IRR of 89.0%, with a payback period of less than 12 months. The study is based on an updated NI 43-101 compliant Mineral Resource Estimate, which includes 7.14 Mt of Measured and Indicated resources at an average grade of 32.4% B₂O₃.

## Boron One raises Serbia project economics in updated study

- Atlas analysis: [Read analysis](https://atlas-staging.minestarters.com/news/boron-one-raises-serbia-project-economics-in-updated-study--499698ab-5402-47c9-ab98-59276c874733) · [Markdown](https://atlas-staging.minestarters.com/news/boron-one-raises-serbia-project-economics-in-updated-study--499698ab-5402-47c9-ab98-59276c874733.md)
- Original announcement: 2026-10-14T15:52:39.000Z
- Atlas analysis published: 2026-10-14T16:47:04.623Z
- Atlas analysis updated: 2026-10-14T16:47:04.623Z
- Company: Boron One Holdings (BONE)
- Original source: [northernminer](https://www.northernminer.com/news/boron-one-boosts-serbia-project-economics-in-updated-study/1003895724/)
- Atlas sentiment: 0.325
- Atlas tags: Resource Update

Boron One Holdings has released an updated Preliminary Economic Assessment (PEA) for its Piskanja boron project in Serbia, forecasting an improved after-tax IRR of 89%. While the NPV has risen to $558.8 million, the projected mine life has decreased from 16 to 13 years.

## Boron One Holdings Inc. Announces Positive Preliminary Economic Assessment (PEA) for Its Piskanja Boron Project

- Atlas analysis: [Read analysis](https://atlas-staging.minestarters.com/news/boron-one-holdings-inc-announces-positive-preliminary-economic-assessment-pea-fo--7448f280-2b64-40b9-8bb8-859c50018ebb) · [Markdown](https://atlas-staging.minestarters.com/news/boron-one-holdings-inc-announces-positive-preliminary-economic-assessment-pea-fo--7448f280-2b64-40b9-8bb8-859c50018ebb.md)
- Original announcement: 2026-10-14T12:30:00.000Z
- Atlas analysis published: 2026-10-14T12:51:26.928Z
- Atlas analysis updated: 2026-10-14T12:51:26.928Z
- Company: Boron One Holdings Inc. (BONE.V)
- Original source: [orestocks](https://orestocks.com/company/BONE.V/press-releases/7350085584829515)
- Atlas sentiment: 0.842
- Atlas tags: High NPV, High IRR, Rapid Payback, PEA-Supporting, Measured Resource, Indicated Resource, QP/CP Signed, NI 43-101 Compliant, Cut-off Disclosed, Resource Update

Boron One Holdings Inc. announced positive results from an updated Preliminary Economic Assessment (PEA) for its wholly-owned Piskanja boron project in Serbia. The PEA highlights robust economics, including a post-tax NPV8 of US$638.8 million, an IRR of 89.0%, and a rapid 12-month capital payback period. This assessment is underpinned by an updated Mineral Resource Estimate, which outlines 7.14 Mt of Measured and Indicated resources at an average grade of 32.4% B2O3.

## MDI: Annual Report to shareholders

- Atlas analysis: [Read analysis](https://atlas-staging.minestarters.com/news/mdi-annual-report-to-shareholders--5872d6e3-3d34-4ce3-a624-88462334a807) · [Markdown](https://atlas-staging.minestarters.com/news/mdi-annual-report-to-shareholders--5872d6e3-3d34-4ce3-a624-88462334a807.md)
- Original announcement: 2026-09-30T05:26:00.000Z
- Atlas analysis published: 2026-09-30T06:23:51.019Z
- Atlas analysis updated: 2026-09-30T06:23:51.019Z
- Company: Middle Island Resources Limited (MDI)
- Original source: [asx](https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03146281)
- Atlas sentiment: 0.101
- Atlas tags: None

Middle Island Resources Limited reported positive drill and channel sampling results from its Bobija Polymetallic Project in Serbia, highlighting a significant shallow gold-silver-base metal discovery with high-grade intercepts and an expanded mineralized footprint. The company also acquired Konstantin Resources Ltd, expanding its exploration portfolio in Serbia. Despite these exploration successes, the annual financial report indicates a substantial operating loss and a material uncertainty about the company's ability to continue as a going concern, dependent on future capital raising activities.

## STK: Annual Report to shareholders

- Atlas analysis: [Read analysis](https://atlas-staging.minestarters.com/news/stk-annual-report-to-shareholders--4ba492f4-ef39-4b64-a806-90e305ea3a30) · [Markdown](https://atlas-staging.minestarters.com/news/stk-annual-report-to-shareholders--4ba492f4-ef39-4b64-a806-90e305ea3a30.md)
- Original announcement: 2026-09-30T00:33:00.000Z
- Atlas analysis published: 2026-09-30T01:06:20.152Z
- Atlas analysis updated: 2026-09-30T01:06:20.152Z
- Company: Strickland Metals Limited (STK)
- Original source: [asx](https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03146013)
- Atlas sentiment: 0.518
- Atlas tags: JORC Compliant, QP/CP Signed, Resource Update, Maiden Resource, Tonnage Growth, Contained Metal Growth, PFS-Supporting, Inferred Resource, Stale Estimate

Strickland Metals Limited's Annual Report for 2026 highlights significant progress at its Rogozna Project in Serbia, reporting a total JORC-compliant Mineral Resource of 9.25 million ounces of gold equivalent. This includes a maiden Indicated Resource at Shanac and a 50% increase in the Gradina resource, demonstrating substantial growth in the project's scale. The company is advancing multiple workstreams towards a Pre-Feasibility Study, with ongoing exploration and metallurgical testwork.

## BIM: Final Assays Expand Drenjak to 8m @ 13.1 g/t Au

- Atlas analysis: [Read analysis](https://atlas-staging.minestarters.com/news/bim-final-assays-expand-drenjak-to-8m-13-1-g-t-au--3836d689-c0d1-45fb-a092-7492d34eabda) · [Markdown](https://atlas-staging.minestarters.com/news/bim-final-assays-expand-drenjak-to-8m-13-1-g-t-au--3836d689-c0d1-45fb-a092-7492d34eabda.md)
- Original announcement: 2026-09-28T23:08:00.000Z
- Atlas analysis published: 2026-09-29T16:31:16.483Z
- Atlas analysis updated: 2026-09-29T16:31:16.483Z
- Company: Bindi Metals Limited (BIM)
- Original source: [asx](https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03145151)
- Atlas sentiment: 0.738
- Atlas tags: QA/QC Disclosed, Apparent Width Only, Compositing Transparent, Maiden Drilling, New Target Identified, Polymetallic

Bindi Metals has announced final assay results from its maiden drill program at the Ravni Project in Serbia, significantly expanding the high-grade gold zone at Drenjak. Hole RAV26011 now reports 8m at 13.1 g/t gold from 47m, including 2m at 42.3 g/t gold, confirming down-dip continuity of mineralization. Additionally, new nickel-cobalt laterite mineralization was intersected at Rudnjak North, and a new large-scale gold target was identified at the Bucje prospect through channel sampling.

## BIM: Annual Report to Shareholders

- Atlas analysis: [Read analysis](https://atlas-staging.minestarters.com/news/bim-annual-report-to-shareholders--a92f9185-8607-471e-9b23-dece0b9e1fff) · [Markdown](https://atlas-staging.minestarters.com/news/bim-annual-report-to-shareholders--a92f9185-8607-471e-9b23-dece0b9e1fff.md)
- Original announcement: 2026-09-24T07:18:00.000Z
- Atlas analysis published: 2026-09-24T08:13:32.836Z
- Atlas analysis updated: 2026-09-24T08:13:32.836Z
- Company: BINDI METALS LTD (BIM)
- Original source: [asx](https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03143531)
- Atlas sentiment: 0.21
- Atlas tags: No QA/QC Disclosure, Cut-off Undisclosed, Deleterious Elements Present, Going Concern Uncertainty, Maiden Drilling Program

Bindi Metals Ltd reported an increased operating loss of $2.71 million for the year ended June 2026, with a material uncertainty regarding its going concern status. Operationally, the company completed a maiden diamond drilling program at its Ravni Gold Project in Serbia, confirming high-grade gold (peak 1m @ 37.8 g/t Au) and silver (peak 1m @ 341 g/t Ag) mineralization and identifying a large epithermal system. The company also divested its Biloela Copper-Gold Project and farmed out the Schryburt Lake Project to focus on Ravni.

## STK: North American Conference Presentation

- Atlas analysis: [Read analysis](https://atlas-staging.minestarters.com/news/stk-north-american-conference-presentation--e5923b22-a8b4-4b34-b886-00fadf9ab1d2) · [Markdown](https://atlas-staging.minestarters.com/news/stk-north-american-conference-presentation--e5923b22-a8b4-4b34-b886-00fadf9ab1d2.md)
- Original announcement: 2026-09-22T23:05:00.000Z
- Atlas analysis published: 2026-09-23T00:26:33.449Z
- Atlas analysis updated: 2026-09-23T00:26:33.449Z
- Company: Strickland Metals Limited (STK)
- Original source: [asx](https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03142611)
- Atlas sentiment: 0.727
- Atlas tags: Tonnage Growth, Contained Metal Growth, QP/CP Signed, JORC Compliant, Inferred Resource, PFS-Supporting, Resource Update, Step-Out Extension, QA/QC Disclosed

Strickland Metals Limited presented an update on its Rogozna Project in Serbia, showcasing a significant JORC 2012 Mineral Resource Estimate of 9.25 million ounces of gold equivalent (AuEq). The project, backed by strategic investor Zijin Mining, demonstrates substantial resource growth and is fully funded for Pre-Feasibility Studies and ongoing exploration. While the resource base is large, a considerable portion remains in the Inferred category, with the company focusing on infill drilling to upgrade confidence and further exploration.

## Minrex cracks Barje gold-silver model wide open with record high-grade hits

- Atlas analysis: [Read analysis](https://atlas-staging.minestarters.com/news/minrex-cracks-barje-gold-silver-model-wide-open-with-record-high-grade-hits--b677c6c8-1582-4411-a89f-7c39bc2ad535) · [Markdown](https://atlas-staging.minestarters.com/news/minrex-cracks-barje-gold-silver-model-wide-open-with-record-high-grade-hits--b677c6c8-1582-4411-a89f-7c39bc2ad535.md)
- Original announcement: 2026-09-22T00:09:04.000Z
- Atlas analysis published: 2026-09-22T01:05:20.647Z
- Atlas analysis updated: 2026-09-22T01:05:20.647Z
- Company: Minrex Resources (MRR)
- Original source: [stockhead](https://stockhead.com.au/resources/minrex-cracks-barje-gold-silver-model-wide-open-with-record-high-grade-hits/)
- Atlas sentiment: 0.561
- Atlas tags: Step-Out Extension, Bonanza Intercept

Minrex Resources has reported record high-grade gold-silver drill results at its Tlamino project in Serbia. The drilling intersected wide, high-grade zones in a central area previously modelled as low-grade, suggesting the eastern and western high-grade zones may be part of a single connected body.

# Atlas tag definitions

- **Bonanza Intercept:** Exceptionally high-grade zone, well above the deposit-type norm.
- **True Width Disclosed:** Actual thickness perpendicular to structure is stated, not just downhole length.
- **Step-Out Extension:** Mineralization extended beyond the previously known limit.
- **QA/QC Disclosed:** Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
- **Compositing Transparent:** Cut-off grade and internal dilution rules are clearly stated for reported intervals.
- **Refractory Ore:** Complex mineralogy requiring oxidation or other special processing before recovery.
- **Apparent Width Only:** Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness.
- **Stale Data Re-release:** Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
- **No QA/QC Disclosure:** Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
- **Metal Equivalent Opaque:** Metal equivalent grade reported without disclosing the price, recovery, or payability assumptions used.
- **Cut-off Undisclosed:** Cut-off grade not disclosed — cannot assess comparability to prior estimates or peers.
- **Deleterious Elements Present:** Penalty elements (arsenic, antimony, etc.) or refractory concerns noted in the release.
- **Infill Drilling:** Confirmatory drilling to raise resource confidence, not new discovery.
- **Nearology Play:** Value premise rests on proximity to a known deposit rather than own results.
- **Measured Resource:** Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
- **Indicated Resource:** Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
- **Proven Reserve:** Measured Resource with demonstrated economic viability after applying modifying factors.
- **Probable Reserve:** Indicated Resource with demonstrated economic viability after applying modifying factors.
- **Category Upgrade:** Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal.
- **Tonnage Growth:** Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.
- **Grade Improvement:** Average resource grade improved vs prior estimate — better deposit economics.
- **Contained Metal Growth:** True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
- **QP/CP Signed:** Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
- **Cut-off Disclosed:** Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
- **JORC Compliant:** Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
- **NI 43-101 Compliant:** Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
- **Inferred Resource:** Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
- **All Inferred:** 100% of resource is Inferred category — very early stage, no engineering confidence.
- **Grade Decline:** Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.
- **Tonnage Decline:** Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down.
- **Category Downgrade:** Resource confidence decreased — Measured downgraded to Indicated, or Indicated to Inferred. Unusual and concerning.
- **Contained Metal Decline:** Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain.
- **Dilutive Growth:** Tonnage increased but contained metal flat or down — likely from lower cut-off grade, not geological expansion.
- **Cut-off Lowered:** Cut-off grade significantly reduced vs prior estimate — tonnage growth may be artificial inflation.
- **Cut-off Undisclosed:** Cut-off grade not disclosed — cannot assess comparability to prior estimates or peers.
- **Historical Estimate Only:** Estimate pre-dates or does not comply with current JORC/NI 43-101 standards — requires verification drilling.
- **Stale Estimate:** Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
- **No Contained Metal:** Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
- **No QP/CP Disclosure:** No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
- **Maiden Resource:** First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component.
- **Resource Update:** Revised estimate for an existing resource — compare to prior to assess progress.
- **PEA-Supporting:** Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
- **PFS-Supporting:** Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
- **DFS-Supporting:** Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
- **High Recovery:** Recovery at or above the exceptional band for the commodity and processing route.
- **Pilot Scale Complete:** Pilot or demonstration plant testing completed under continuous operation.
- **Free Milling:** Simple, clean ore amenable to standard processing without oxidation.
- **Multi-Domain Tested:** Variability across ore domains (oxide, transition, fresh) has been addressed.
- **Recovery Improving:** Recovery improved versus a like-for-like prior test program on the same domain and route.
- **Low Recovery:** Recovery below the weak band for the commodity and processing route.
- **Bench Scale Only:** Only preliminary bench tests completed — no locked-cycle or pilot work.
- **Refractory Ore:** Complex mineralogy requiring oxidation or other special processing before recovery.
- **Single Domain Only:** Testing limited to one composite or domain — representativeness not established.
- **Recovery Stagnant:** No improvement across multiple test programs on comparable material.
- **Theoretical Recovery Only:** Only theoretical or liberation-derived recovery reported, with no actual test result.
- **Heap Leach Route:** Processing via heap leach — lower CAPEX and OPEX, lower recovery expected.
- **Mill Route:** Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
- **Gravity Route:** Gravity separation forms a material part of the flowsheet.
- **POX/BIOX Route:** Pressure or bio-oxidation for refractory ore — high CAPEX and OPEX.
- **Byproduct Commodity:** The tested commodity is a byproduct rather than the primary economic driver.