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Medgold Resources Update on Karamanica Prospect in Tlamino Project in Serbia

Mining News - Published on Fri, 20 Sep 2019

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Medgold Resources Corp announced that drilling of its high-priority Karamanica Prospect will commence in the current week. The Karamanica Prospect falls within the Tlamino Project in southern Serbia, approximately 8km west of the Barje-Liska Prospect at which drilling by Medgold has been focused to date. Approximately 2,000m of diamond drilling is planned in this phase of work. The 2019 exploration program remains fully funded by Fortuna Silver Mines Inc. and directed by a joint Fortuna-Medgold technical committee pursuant to the terms of the Tlamino Option Agreement announced on March 7, 2017.

The most prominent target at Karamanica consists of a 2km long Induced Polarization chargeability anomaly within a 2km by 1.5km polymetallic soil anomaly. Medgold's technical team believes that this anomaly may represent the strike extension of a mineralized structure onto Tlamino from underground mine workings at the adjacent Podvirovi Mine currently in development by Mineco Limited.

A historic Mineral Resource Estimate for Podvirovi was listed by Yugoslav State Agencies in 1989 as 2.216 million tonnes at 3.07% Pb, 3.06% Zn and 0.87% Cu in A+B+C1 Resource categories*. While no systematic gold or silver analyses appear to have been performed by the Yugoslav State Agencies, it is important to note that soil sampling by Medgold along the projection of the Podivirovi trend within the Company's landholding identified gold in soil of 0.1 g/t over an area of 2km by 1.5km. Evidence of mineralization on an adjoining property is not itself evidence of mineralization at Tlamino.

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Posted By : Rabi Wangkhem on Fri, 20 Sep 2019
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