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Ljubata

Location

Close to the town of Bosilegrad in southeast Serbia. 570 sq.km. of licences.

Ownership

100% Medgold.

Infrastructure

Good access by forest roads, power available nearby.

Mineral Model

Fault controlled precious +/- base metal mineralization associated with a detachment fault.

Current Status

Regional exploration and prospecting underway.

HIGHLIGHTS

LJUBATA PROJECT

Medgold holds five granted exploration licences near Bosilegrad in southeastern Serbia, covering an area of approximately 570 sq.km. Two of these make up the Tlamino Project, currently under option to Fortuna Silver Mines, and the other three make up the Ljubata Project.

The Company has an extensive historical exploration data set covering parts of the licence areas, including regional stream sediment sampling results with gold anomalies, detailed soil sampling grids over historical showings and rock chip results. In 2017, field crews undertook licence-wide reconnaissance over the three licences of the Ljubata Project, which included stream sediment sampling programs, reconnaissance mapping, and rock-chip sampling.

Medgold completed ridge-and-spur soil sampling tracing the inferred extension of a major low-angle detachment fault (2,096 samples at a spacing of 100m) which is thought to have an important association with both gold-silver and lead-zinc mineralization in the region. The program identified two areas of strongly elevated multi-element geochemistry.

  • A 3 km by 1 km Au+As+Pb+Zn anomaly on the western flanks of the Crnook Dome within the Ljubata licence. It occurs close to a calcareous schist and may be geologically similar to the Karamanica target, 15 km to the southeast.
  • A 2 km by 1.5 km Au+As+Cu+Pb+Zn anomaly located on the northern edge of the Crnook Dome, also with the Ljubata licence.

Medgold’s field crews will follow up these and other smaller anomalies with soil sample grids, and if justified, ground geophysics.

REGIONAL AND LOCAL GEOLOGY

REGIONAL GEOLOGY

The licences are located in the Serbo-Macedonian Massif (“SMM”), a belt of metamorphic rocks that runs north-south through Serbia into Macedonia, Bulgaria and Greece. The belt has been intruded by felsic porphyry intrusives, volcano-clastics and dykes, and locally covered with recent conglomerates. The contact zones between the intrusive rocks and favourable country rock are thought to control the known base and precious metal showings within the licence areas. From the 1950s to the 1970s the Yugoslav government systematically explored the SMM for lead and zinc but not gold, opening up significant exploration opportunity for Medgold.

The SMM lies west of Serbia’s Timok Belt which hosts a number of copper-gold porphyry-epithermal deposits including Nevsun’s Timok porphyry. In Greece, the SMM hosts several gold deposits including the Skouries high-grade Au-Cu porphyry and the Olympias Au-rich, polymetallic carbonate replacement deposit, both owned by Eldorado Gold.

LOCAL GEOLOGY

The licences cover the inferred extension of a major low angle detachment fault, continuous for nearly 50km that rings the Crnook Dome. It separates the Vlasina Schists from the underlying basement rocks of the Crnook Dome. The fault is thought to have an important association with both gold-silver and lead-zinc mineralization in the region which are believed to be hosted in tectonic breccias at the Barje for example, and also in high angle structures (e.g. Karamanica – 10 km northwest of Barje) parallel and proximal to the detachment.

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