Maiden Mineral Resource
An Inferred Mineral Resource containing approximately 680,000 oz AuEq in 7.1Mt grading 3.0 g/t AuEq at cut-off grade of 0.7 g/t AuEq was reported on January 30, 2020. Bulk rougher flotation tests were performed on two composite samples, which yielded head grades of 2.04 g/t Au and 10.99 g/t Au and gold recoveries to concentrate of 88.2% and 90.5%, respectively. The same composite samples yielded silver head grades of 15.1 g/t Ag and 107.2 g/t Ag, and silver recoveries to concentrate of 88.2% and 96.4% respectively. All mineralization occurs either at or near surface
Infrastructure
Straightforward site access via national and forest roads, ready power availability from adjacent 110 kV and lower voltage transmission lines already supplying the nearby Podvirovi Mine, 30 minutes from the municipality of Bosilegrad, with a population of approximately 8,000.
Current Status
Between 2018 and 2019 Medgold completed 55 diamond drill holes at the Tlamino for a total of over 9,000 meters, returning near-surface intervals including 30.0 meters of 5.45 g/t Au, 13.35 meters @ 5.06 g/t Au and 38.20 meters @ 3.98 g/t Au. Mineralization at the Barje Prospect is breccia-hosted, and is developed along the plane of a low-angle fault.
HIGHLIGHTS
TLAMINO GOLD PROJECT
The Tlamino Project is located near Bosilegrad in the far southeast of Serbia, and consists of two contiguous Exploration Licences, Donje Tlamino and Surlica-Dukat, covering a total area of 192 km2. The Donje Tlamino Licence hosts the Barje Prospect, for which an Inferred Mineral Resource containing approximately 680,000 oz AuEq in 7.1Mt grading 3.0 g/t AuEq at cut-off grade of 0.7 g/t AuEq was reported on January 30, 2020.
Medgold acquired the Tlamino Project in 2016 and over the following three years completed soil sampling, Induced Polarization geophysics, surface and underground channel sampling, returning intervals of 84 meters at 5.6 g/t Au and 105.2 g/t Ag, and 52 meters at 2.20 g/t Au and 88 g/t Ag. Between 2018 and 2019 Medgold completed 55 diamond drill holes at the Tlamino for a total of over 9,000 meters, returning near-surface intervals including 30.0 meters of 5.45 g/t Au, 13.35 meters @ 5.06 g/t Au and 38.20 meters @ 3.98 g/t Au from the Barje Prospect. Mineralization at Barje is near-surface, breccia-hosted, and is developed along the plane of a low-angle fault.
The modern exploration era at Tlamino commenced in the 1950’s when Yugoslav State companies explored the region primarily for lead and zinc. Perhaps most notably, precious metals were not commonly assayed in this period. The property was subsequently explored for gold by Avala Resources in the mid 2000’s, though their drilling appears to have missed the main body of precious metal mineralization.