Medgold Hikes on Serb Project

By: Tomas Ronolski - AllPennyStocks.com News

Wednesday, August 5, 2020

With the world still in a great deal of uncertainty, what better place to hide out, says conventional wisdom, than the gold sector.

Vancouver-based Medgold Resources Corp. (TSX-Venture:MED) got heads turning Wednesday by commencing a Preliminary Economic Assessment ("PEA") regarding the Barje Prospect within the Tlamino Project in southern Serbia.

The study is meant to constrain the self-standing economics of the Project, and most particularly its capacity to yield a marketable metal concentrate, to which end a program of metallurgical test work will be completed.

On Tlamino, an inferred mineral resource estimate containing approximately 570,000 ounces gold (Au) and 8.6 Moz Silver (680,000 oz Gold eeuivalent) in 7.1 Mt grading 2.5 g/t Au and 38 g/t Ag (3.0 g/t AuEq) was established for the Barje Prospect.

Mineralization is at or near surface and with adjacent road and grid power access. As part of the Inferred Mineral Resource estimate, bulk rougher flotation tests were performed on two composite samples formed of 50.39 kg of core from the Company's 2018 drilling program at the Barje prospect.

Medgold shares sprinted at noon hour on Wednesday, gathering a penny, or 16.7%, to seven cents, on volume of 232,000 shares.

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