Canadian company discovers $1 billion worth of gold ore deposits in southern Serbia

The Canadian mining exploration company Medgold Resources, which indicated earlier that it had found signs of abundant deposits of noble metals ore in southern Serbia, on the very border with Bulgaria and Macedonia, has now confirmed its findings.

They have detected around seven million tonnes of ore in only one location within the Tlamino project, with around 680,000 ounces, that is, 19.3 tonnes of gold, worth slightly over a billion dollars.

The explorations in the area are ongoing.

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The average gold content in the location has been determined to be around three grammes per tonne. Sites with one gramme of gold per tonne and sufficient amounts of ore are considered profitable.

Under the auspices of the Tlamino project, Medgold Resources has also detected a 40-metre-thick layer containing 8.32 grammes of gold per tonne of ore and the incredible 193 grammes of silver per tonne.

(B92, 06.02.2020)


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