Modern exploration could unlock the potential of Regener8’s Srebrenica North project, which has a history of mining. Pic: Getty Images
- Bosnia and Herzegovina sits within the mineral rich Tethyan Metallogenic Belt
- Regener8 acquiring Srebrenica North project with little modern exploration despite mining history
- Company to carry out mapping, sampling and geophysics before carrying out target generation
Australian resource companies are known for having a good nose for sniffing out where the minerals are and that certainly seems to be the case where Bosnia and Herzegovina is concerned.
While not as well-known as its neighbours in Eastern Europe, large parts of Bosnia and Herzegovina sit within the rich Tethyan Metallogenic Belt that spans 34 countries and hosts 685 significant deposits, including some of the world’s largest copper-gold and polymetallic resources.
Stockhead’s Kristie Batten has written a fantastic look at this piece of the world’s geology here.
It shouldn’t come as a surprise then that Bosnia and Herzegovina has a slice of this rich bounty, which Adriatic Metals took a bite out of with its Vareš silver operation.
Development of Vareš was characterised by how rapidly it progressed, moving from initial exploration in 2017 to the first sale of silver/lead and zinc concentrates in 2024,
The project achieved commercial production in mid-2025 just as Canada’s Dundee Precious Metals moved to acquire the company.
This acquisition was completed in September 2025 with Dundee listing its shares on the ASX in the form of CHESS depository interests as DPM Metals (ASX:DPM).
Given the successful path forged by Adriatic, it is no surprise that Regener8 Resources (ASX:R8R) is now taking its first early steps into the country.
The Metallogenic Belt running through Bosnia. Pic: Adriatic Metals
Medieval mining points way to modern-day riches
In early March 2026, the company signed a binding agreement to acquire the 80km2 Srebrenica North project in the heart of Bosnia’s portion of the Tethyan Metallogenic Belt.
Notably, it sits between Mineco’s operating Sase and Veliki Majdan mines, which are a long-life, high-grade lead-silver-zinc operation and a producing lead-zinc mine respectively.
Sase annually produces ~330,000t of lead-zinc ore while the underground Veliki Majdan operation processes ~60,000t of lead-zinc sulphide ore per annum that is also known for its very high silver grades.
Srebrenica North consists of the Vagan and Dolovi exploration licences that cover prospective volcanic and intrusive lithologies of the Srebrenica Volcanic Complex, which hosts the region’s major polymetallic deposits.
Much like the broader Srebrenica district, Srebrenica North hosts numerous historical adits, shafts and slag heaps dating back to the medieval era.
While the project area has seen sporadic geological mapping, trenching and stream sediment sampling carried out by Yugoslavian state agencies in the 1970s, which uncovered signs of polymetallic anomalism, it has seen no modern systematic exploration or drilling since that time.
The Srebrenica North project. Pic: Regener8 Resources
Speaking to Stockhead, managing director Stephen Foley said the company was drawn by the prospectivity of the package, which has its fertility demonstrated by the neighbouring mines and successful exploration by direct neighbour Terra Balcanica (CSE:TERA) at its Viogor-Zanik project.
“The fact that it is essentially unexplored since medieval times makes it extremely interesting for us,” he added.
“We saw it as a bit of a new frontier in this area and thought it was a compelling project to be able to provide modern systematic exploration over it.”
Regener8 is currently carrying out legal and technical due diligence before it completes the acquisition.
It has paid a non-refundable cash deposit of $25,000 and will pay a further $50,000 in cash and issue 8 million shares to the vendors on completion of the acquisition.
“We’re hoping to discover more information as we sort of progressively work through the historical reports but the fact that you’ve got an existing operating mine, that’s mining the vein systems and we’re immediately bordering that mine provides a bit of excitement” Foley added.
As an added benefit, he noted the local community and region had a level of familiarity about mining and exploration.
“There’s a town right in the middle of our two tenements, there’s good infrastructure and access to rigs and resources,” he said.
Taking the next steps
Once due diligence pans out and the acquisition is completed, Regener8 will move to start landholder and access engagement in parallel with planning for an initial ground exploration program.
“Presuming that we proceed with the acquisition, there will be a review of historical data and targeting,” Foley said.
“Then we will likely carry out on-ground reconnaissance mapping, soil sampling and geophysics over the next 12 months before carrying out target generation ahead of first drilling.”
He added that while the company was exploration focused at the moment and had not investigated offtake options, a potential natural partner would be Mineco with its existing processing plant nearby.
Foley added that while offtake to Mineco was one option, the company was keeping its mind open on commercialisation pathways that would best benefit itself and its shareholders.
At Stockhead, we tell it like it is. While Regener8 Resources is a Stockhead advertiser, it did not sponsor this article.