The Directors of Prospech Limited advised that a new exploration licence has been applied for and granted at minimal cost to the Company. Kolba is part of the Svatodusna - Podlipa geologic system with mineralisation consisting of cobalt-nickel sulpho-arsenides. The Podlipa Mine, within the Kolba tenement, was worked in the 1800s with copper grades from 2% to 17%.

The Kolba - Svatodusna structure has not been drilled but has been mapped and sampled by the Slovak government geological service in the early 1990s and recent academic studies indicate cobalt-copper-nickel-silver sulphides in primary mineralisation, making it an attractive exploration target. Quartz-carbonate-sulphide veins of Cretaceous (Paleo-Alpine age) are hosted in Permian meta-sandstones and greywackes as well as in the underlying ortho-gneisses. The mineralisation is represented by hydrothermal veins and stockworks, in east­west trending zones.

Mineralised zones are typically several hundred meters long with the most abundant sulphide minerals being chalcopyrite (copper-iron-sulphide mineral) and tetrahedrite (copper-antimony-sulfosalt mineral) with common inclusions of gersdorffite (nickel-arsenic-sulphide mineral) and cobaltite (cobalt-arsenic-sulphide mineral).