Medgold Resources Corp (CVE:MED) (OTCMKTS:MGLDF) unveiled encouraging metallurgical results from its Tlamino project in Serbia Thursday as it also reported final drill assays from the Karamanica prospect at the property.
Flotation tests were carried out on two composite samples formed of 50.39 kg of material from the 2018 drilling at the Barje prospect, said the Vancouver-based firm.
The samples, with head grades of 2.02 grams per ton (g/t) gold and 7.87 g/t gold, yielded gold recoveries to concentrate of 88.2% and 90.5% respectively. The same samples demonstrated silver head grades of 12.12 g/t and 82.45 g/t and yielded silver recoveries to concentrate of 88.2% and 96.4% respectively, added Medgold.
Drilling last year at Barje showed the mineralized zone at Barje extended 700 metres (m) east-west by 250 m north-south.
Last month, the firm told investors it had completed eight holes at the Karamanica prospect at Tlamino, 8km northwest of Barje, where samples from a long gold-in-soil anomaly returned values above 0.1 grams per ton (g/t) gold.
Initial results from the first hole drilled included 8 m at 0.3 g/t gold and 3.2 g/t silver.
Today, the firm reported results for all eight holes, which included an interval of 2 m with 0.90 g/t gold and 0.35 g/t silver. Another hole housed 4 m at 0.36 g/t gold and 40.96 g/t silver.
The Karamanica zone is characterized by a 2 km by 1.5 km gold-in-soil anomaly where samples have returned generally above 0.1 g/t gold. Within this anomaly, there are also elevated concentrations of silver, copper, lead, zinc and arsenic and antimony in distinct NW-SE linear features.
Tlamino consists of two exploration licenses - Donje Tlamino and Surlica-Dukat, each around 100 sq km and all exploration there is fully-funded by Fortuna.
The latter has an option to earn up to 70% of Tlamino by spending US$8 million over five years and completing a preliminary economic assessment.
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