Canada’s Medgold Resources discovers substantial gold and silver deposits in south Serbia

The Canadian exploration company Medgold Resources has found strong indicators of the presence of large deposits of precious metals in southern Serbia, on the borders with Bulgaria and Macedonia – the Vecernje Novosti daily reports.

As the daily writes, this company found a 40-metre-layer which contains 8.32 grams of gold per tonne and the incredible 193 grams of silver per tonne, as part of the Tlamino exploration project.

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Furthermore, Medgold Resources has signed an agreement on a joint investment with another Canadian company, Fortuna Silver, which owns San Jose Mine in Mexico and Caylloma Mine in Peru.

As the daily explains, under this agreement, Fortuna Silver, which is also developing the project of the opening of the Lindero gold mine in Argentina, has undertaken to invest $8 million in further explorations.

Of this amount, $2 million will be spent in 2019, according to the plan.

Also, under the agreement, Fortuna could acquire a 70% stake in the Tlamino project in exchange for the financing of geological explorations in southern Serbia.

According to the Vecernje Novosti, the explorations are being carried out in an area spanning around 200 square kilometres in Serbia.

(Nova Ekonomija, 21.01.2019)

This post is also available in: Italiano

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