Regional Overview

Vardar Minerals exploration projects focus on the extension of the Tethyan Belt into southeastern Europe. This region is historically the one of most important metallogenic provinces of Europe and is currently the focus of global exploration and mining initiatives.

Our projects are situated within the calc-alkaline magmatic arc(s) which developed during the closure of the Neotethys Ocean, primarily targeting epithermal (Au) and porphyry related Cu-Au mineralisation. The magmatic arc consists of three different domains of different age:

  1. Late Cretaceous subduction-related northern arc (ABTS), host to several world-class Cu-Au and Au deposits including Moldova Nouă, Majdanpek, Bor, Cukuru Peki, Elatsite, Assarel, and Chelopech. Despite the high metal endowment along this Metallogenic Belt, large tracts remain unexplored with only limited exploration carried out under cover. This is highlighted by the recent Cukuru Peki (350 Mt @ 2.9% Cu, 1.7 g.t Au) discovery.
  2. Tertiary Palaeocene-Oligocene and Miocene collisional-tectonic arcs situated to the southwest of the Cretaceous arc. This Metallogenic Belt is most notable for its renowned historical Pb-Zn mining districts which include the Trepca, Maaden, and Madjanpek ore fields. Despite the rich metal endowment only limited exploration has been undertaken for porphyry Cu-Au despite compelling links to porphyry sources for Pb-Zn-Ag and Au mineralisation. Recently exploration has changed focus to porphyry related mineralisation resulting in significant new discoveries including:
  • Dundee Precious Metals Kiseljak/Tulare project (459 Mt @ 0.22% Cu and 0.2 g/t Au)
  • Eldorado Gold Skouries project (226 Mt @0.54% Cu, 0.91 g/t Au)
  • Euromax Resources Ilovica project (256Mt @ 0.21% Cu, 0.32 g/t Au)
Cretaceous Tethys Arc with major porphyry projects highlighted
Tertiary Tethys Arc with major ore fields and recent porphyry development projects highlighted


Start typing and press Enter to search