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Medgold Resources Corp.
Summary
| Project: | Tlamino | |
|---|---|---|
| Deposit: | Tlamino | |
| Location: | Serbia | |
| Commodities: | Gold-Silver | |
| Date: | 11/19/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 19-11-2018: Medgold Resources Corp. announces an Exploration/Drilling Update report for its Tlamino deposit at the Tlamino project. Drilling results incl. 33.0m @ 1.14g/t Au, 10g/t Ag, 0.12% Zn, 0.05% Pb from 87.0m. Vancouver, Canada, November 19, 2018 – | |
| Resources: | x | |
| CP/QP: | [Overall Report]: David Clark (Not stated) | |
| ABSTRACT: | Vancouver, Canada, November 19, 2018 – Medgold Resources Corp. (TSX-V: MED) has completed the planned drilling for 2018 at the Tlamino Gold Project (“the Project”) in southern Serbia. The exploration program at Tlamino is fully funded by Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) (“Fortuna”), and directed by a joint Fortuna-Medgold technical committee pursuant to the terms of the Tlamino Option Agreement announced on March 7, 2017. Assays have been received for holes BAR014 to BAR020 (see Table 1 below for full results), returning best intercepts of 33.0 m @ 1.14 g/t Au and 8.2 m @ 2.29 g/t Au. Medgold and its partner, Fortuna, have approved a $2-million budget for the project for 2019 to continue drilling at Barje and Karamanica. Mineralization has now been confirmed over an area of 500 m by 400 m, east-west by north-south. The main zone of mineralized hydrothermal breccia and alteration has excellent lateral continuity between drill holes, is flat-lying to gently dipping, with a thickness of up to 30 m, but recent drilling extending outside of this area, yielded weaker mineralization. Drilling stepped to the west across the Barje project, systematically testing a large chargeability anomaly identified by an induced polarization-resistivity geophysical survey completed in 2017. The anomaly measures 1,400 m east-west by 400 m north-south, and includes a second-order anomaly with a northnortheast axis overlying the Barje outcrop. The results received to date demonstrate the gold anomalism is weakening as drilling moved to the west away from the high-grade drill holes announced in June which were collared near the Barje discovery outcrop (see news release dated June 11, 2018). | |
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