Close to the town of Bosilegrad in southeast Serbia.
100% Medgold. Fortuna Silver Mines earning into 70% by spending US$8m.
Good access by forest roads, power available nearby feeding a producing Pb-Zn mine. 30 minutes from Bosilegrad, road accessible.
Structurally controlled intermediate sulphidation Au-Ag(-Pb-Zn) mineralization, associated with a detachment fault, locally very high grade (>20g/t Au).
Medgold has completed 7 drill holes. Best intercept: 30.0 m of 5.45 g/t Au. Planning underway for phase 2 drilling for H2 2018.
TLAMINO GOLD PROJECT
The Tlamino Project is located near Bosilegrad in the far southeast of Serbia. Medgold has two contiguous licences, Donje Tlamino and Surlica-Dukat, covering 192 square km. The Donje Tlamino licence hosts the two main targets, Barje and Liska. The Surlica-Dukat licence includes the Karamanica target.
The modern exploration era at Tlamino began in the 1950s when Yugoslav state companies explored for lead and zinc. Precious metals were not commonly assayed for during this era. The property was subsequently drilled for gold by Avala Resources in the mid 2000s, but their drilling appears to have missed the main precious metal mineralization.
Medgold acquired the project in 2016 and over the next 2 years, focusing mainly on Barje, completed geophysics (IP), soil and channel sampling, prospecting and a first-pass 7 hole drill program in 2018. Channel sampling at what is now called the Discovery Outcrop (CH_BAR_01-11) returned a best channel interval of 84m at 5.6 g/t Au and 105.2 g/t Ag. Medgold also channel sampled an old Yugoslav adit at Barje which returned 52m at 2.20 g/t Au and 88 g/t Ag.
The 2018 drilling hit high grade gold, silver and base metal values over 10s of meters in at least 4 holes with a best intercept of 30.0 m of 5.45 g/t Au. All of the initial 7 holes hit gold. Drilling intersected detachment-fault related, intermediate sulphidation Au-Ag-base metal mineralization hosted by tectonic breccias developed along a regionally extensive, low-angle detachment fault.