Sign up Australia
Proactive Investors - Run By Investors For Investors
Why invest in MED?
Medgold Resources Corp: THE INVESTMENT CASE

Medgold Resources awarded first licences in Serbia

Exploration will be fully funded by prospectve partner Fortuna Silver.
picture of assay tray
INVESTMENT OVERVIEW: MED The Big Picture
Sample collection will start soon

Medgold Resources Corp (CVE:MED) has picked up five exploration licences for precious and base metals in Serbia, one of which will be taken further in a joint venture by its partner Fortuna Silver.

Three of the licences are contiguous and cover 300 sq km on the border with Macedonia and Bulgaria in the south-east, while the other two comprise 100 sq km and lie 50km to the north.

Exploration will be fully funded by Fortuna Silver.

Dan James, president of Medgold, commented: "We are very pleased to have received our first exploration licences in Serbia.

“They cover large areas of highly prospective ground and are under-explored for gold and silver.

“We're looking forward to commencing field work immediately, to ground-truth a series of prospective targets."

Fortuna will choose what it considers to be most prospective for the joint venture and will spend US$8mln for a 70% stake.

The licences are located in the Serbo-Macedonian Massif, a belt of crustal rocks that runs through Serbia along a north-south axis, extending southwards through Macedonia and Bulgaria and into Greece.

In Serbia, the SMM is west of, but parallel to, the Timok Belt which hosts a number of copper-gold porphyry-epithermal deposits.

Recently, Medgold purchased an exploration dataset for the area from Dundee Precious Metals, which is being reviewed currently. 

PhilW.jpg


Register here to be notified of future MED Company articles
View full MED profile

Medgold Resources Corp Timeline

Related Articles

Durango-Mexico_341653727.jpg
January 24 2017
A great way for any junior explorer to feature on the investment map is to work with other established names. That’s a strategy that continues to serve gold and silver explorer Orex Minerals well
US dollars
September 28 2016
So, now we know how StratMin will finance its investment commitments to the 12,000 tpa large-flake graphite project in Madagascar
picture of assay tray
November 04 2016
Exploration will be fully funded by prospectve partner Fortuna Silver.

© Proactive Investors 2017

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use