Proactive Investors - Run By Investors For Investors

Medgold Resources completes 2018 gold drilling in southern Serbia

The miner and its partner, Fortuna, have approved a C$2 million budget for 2019 drilling at the Tlamino project’s Barje and Karamanica zones
Gold bars and the Canadian flag
The gold exploration program at Tlamino is fully financed by Fortuna Silver Mines and directed by a joint Fortuna-Medgold technical committee

Medgold Resources Corp (CVE:MED, OTCMKTS: MGLDF) said Monday that it has completed the planned drilling at the Tlamino gold project in southern Serbia.

Assays have been received for holes BAR014 to BAR020, returning best intercepts of 33.0 meters at 1.14 grams per ton of gold and 8.2 meters at 2.29 grams per ton of gold, the Vancouver-based company said in a press release.

READ: Medgold Resources encouraged by latest drill assays from Tlamino project

The exploration program at Tlamino is fully financed by Fortuna Silver Mines Inc (NYSE:FSM) and directed by a joint Fortuna-Medgold technical committee under the terms of an agreement announced in March 2017.

“The first 13 holes identified an extensive zone of high-grade gold-silver-base-metal mineralization at Tlamino with excellent continuity of mineralization from hole to hole,” Dan James, president of Medgold, said in a statement. “We'll be looking at these over the winter.”

Medgold and its partner, Fortuna, have approved a C$2 million budget for 2019 drilling at the Tlamino project’s Barje and Karamanica zones.

Shares of Medgold slipped C$0.04 to C$0.20 in Canada. They were down $0.01 to $0.16 in OTC trading.



Contact Dennis Fitzgerald at [email protected]

View full MED profile View Profile

Medgold Resources Corp Timeline

Related Articles

Eureka open pit
February 03 2019
The company aims to recommence gold production at the Eureka open-pit.
Gold nugget
November 21 2018
Such is the size of the two nuggets, they are now touring the world’s museums as curios
diammonium phosphate fertiliser produced from Ammaroo ore
November 28 2018
The Ammaroo Phosphate Project's million net present value (NPV10) is a nominal, ungeared after-tax $344 million
Copyright © Proactiveinvestors.com, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use