18 C
Belgrade
Supported byspot_img
spot_img

Medgold Excited By Serbia Potential

Member of Europium Groupspot_img
Supported byspot_img

Canada-listed explorer Medgold Resources is excited by the potential at its Tlamino gold project in Serbia as the latest assays demonstrate mineralisation extends into the hillside.

Assays from a composite channel sample interval at an adit in the Barje prospect contained 52m at 2.2g/t gold and 88g/t silver.

“Our confidence is building in our geological model, which we have been able to test having entered, mapped and sampled the adit, and we can now consistently demonstrate anomalous gold-silver values in all three directions at Barje,” Medgold president Dan James said.

Supported by

The adit had been excavated by a Yugoslav state company in the 1950s in a search for lead-zinc mineralisation.

James said exploration was progressing “steadily” despite a delay in the issuing of a land access permit and the company was aiming to start first-pass diamond drilling in the second quarter of 2018.

The drilling will be fully-funded by Medgold’s strategic partner, Fortuna Silver Mines.

The pair is part of the six-member, Vancouver-based Gold Group of companies led by Simon Ridgway, who is also Medgold’s chairman and CEO.

Under the alliance, Fortuna can earn up to 51% of Tlamino by spending US$3 million within three years.

Medgold has terminated its exploration in Portugal to focus on its Serbian projects.

Shares in the company closed up 6.67% at C16c, towards the lower end of its 52-week range of 13-25c.

Source: mining-journal

Supported byElevatePR Digital

Related News

Rio Tinto challenges Serbian government with arbitration notice on Jadar project

Background of the dispute: Jadar project and environmental protests The British-Serbian activist group Earth Thrive has reported that Rio Tinto has officially notified the Serbian...

There is no technology that guarantees the safe processing of lithium in the form it exists in Serbia

The Rio Tinto lithium mining project has never been conclusively dismissed, just paused, waiting for the dust to settle before being reintroduced with even...

“Jadar” will not pollute river streams

As the discussion about the "Jadar" project has reignited in recent days, the public in Serbia remains confused by the extremely contradictory narratives about...

Serbia’s lithium mining revival: Implications for EU membership and geopolitics

Serbia is aiming to position itself as a significant supplier of lithium in Europe, reviving a contentious mining project that was previously abandoned due...
Supported by
Supported by
Supported by
error: Content is protected !!