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Last C$0.11 CAD
Change Today 0.00 / 0.00%
Volume 0.0
As of 3:55 PM 05/1/15 All times are local (Market data is delayed by at least 15 minutes).

medgold resources corp (MED) Snapshot

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03/11/15 - C$0.20
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medgold resources corp (MED) Details

Medgold Resources Corp. engages in the acquisition and exploration of resource properties in Italy, Spain, and Portugal. The company explores for gold and base metal deposits. It has strategic alliance agreement with Radius Gold Inc. The company is headquartered in Vancouver, Canada.

medgold resources corp (MED) Top Compensated Officers

Chairman and Chief Executive Officer
Total Annual Compensation: C$36.0K
President and Director
Total Annual Compensation: C$150.0K
Chief Financial Officer
Total Annual Compensation: C$18.5K
Compensation as of Fiscal Year 2013.

medgold resources corp (MED) Key Developments

Medgold Resources Corp. Provides an Exploration Update on Lagares Gold Project

Medgold Resources Corp. provided an exploration update on the Lagares gold project. The project is joint ventured to Centerra Gold Inc., who are earning in to 51% of the project by spending $3 million over 3 years, and have the right to earn an additional 19% by spending a further $3 million over 2 years. The project is progressing rapidly. Medgold’s first drilling campaign in Portugal, a 3,000 metre diamond core drilling program, started a day ago targeting high-grade gold mineralization identified from recent channel-chip sampling. A grid-controlled soil sampling program has also been completed, and has identified a broad gold anomaly, extending both north and south along strike and away from the known zones of mineralization. The Lagares property is one of four licences within the Valongo Belt and currently under joint venture (JV) with Centerra. Under the terms of the JV, which was announced in December 2014, Centerra has the initial option to spend $3 million on exploration to earn 51% in the project. The first phase of significant work under the JV is the proposed program of 3,000 metres of diamond drilling. The program started a day ago, with an initial priority phase of drilling at the Castromil and Serra da Quinta mineralized zones. Early drilling will include a few ‘twin’ boreholes which are intended to check the grade of gold mineralization that was intersected by historical drill-holes. A comparison will also be done of gold recovery characteristics of the mineralization intersected by the drill-hole ‘twins’. Focus of the drilling will then turn to testing the down-dip continuation of gold mineralization at the Castromil and Serra da Quinta prospects which occurs as a stacked set of shallowly east-dipping tabular lenses of silicified granite that, overall, follow the faulted contact between the granite and metamorphosed sedimentary rocks.

Medgold Resources Corp. Announces High-Grade Gold Results over Broad Contiguous Intersections from Recent Channel Sampling Program at the Lagares Gold Project in Northern Portugal

Medgold Resources Corp. announced high-grade gold results over broad contiguous intersections from a recent channel sampling program at the Lagares Gold Project in northern Portugal. Channel-Chip Sampling Highlights: Management is extremely encouraged by the first round of channel sampling with 8 of 9 channels returning significant, broad widths of gold mineralization. Highlights of the results include: 69.00 m at the rate of 4.15 g/t Au; 40.70 m at the rate of 5.73 g/t Au, including 5.20 m at the rate of 15.50 g/t Au; and 15.50 m at the rate of 9.44 g/t Au, including 4.00 m at the rate of 18.00 g/t Au.

Medgold Resources Corp. Announces High-Grade Gold Results for Ponte Da Barca Gold Project in Northern Portugal

Medgold Resources Corp. announced new high-grade gold results for its Ponte da Barca gold project in northern Portugal. Recent work has identified a mineralized structure outcropping over a strike length of 400 m with rock-chip sample results ranging from trace up to 35.3g/t, 25.0g/t and 20.7 g/t Au. The high-grade results are from the main Coto de Cruz prospect, which is located in the east of the Ponte da Barca licence, and are from an east-west trending quartz vein and its alteration halo. A total of 163 samples have been collected at the project, comprising 113 soil samples and 50 rock samples. The rock samples range from detection to 35.3 g/t Au with 26 rock samples grading greater than 1 g/t Au (52%) and 6 grading greater than 10 g/t Au (12%). The Ponte da Barca gold project is located in northern Portugal, 75 km northeast of Porto, and close to the Spanish border. The licence was acquired from Klondike Gold Corp. in January 2014. Early explorers, from the 1940s, identified gold mineralization and completed a number of short exploration adits in the area. Since this time no further work was undertaken until Klondike acquired the licence in 2013. The project geology is dominated by Hercynian-age granites which have been deformed to create a strong northeast-southwest structural control on gold mineralization. Gold mineralization is hosted in the following: large white quartz veins, closely associated with arsenopyrite and up to 3 metres in thickness; narrow quartz veins of 1-15cm in thickness; and as disseminations within highly altered granites. The principal prospect of Coto de Cruz is centered on a east-west trending quartz vein. This vein is mineralized with 'blebby' arsenopyrite and rock sampling has yielded results of up to 20.7 g/t Au. A second set of veins, which are much narrower, have a northeast orientation and occur within a broad alteration halo surrounding the main east-west vein. Sampling from this halo, of both vein material and altered granite, has yielded results of 35.3, 25.0, 18.4, 18.0 and 10.0 g/t Au. A program of channel-chip sampling, extending out into trench sampling, will be completed along this mineralized corridor in the coming months. In addition to the rock-chip sampling, a grid-soil sampling program was completed over the Coto de Cruz prospect, at a spacing of 50 by 25 metres for a total of 61 samples. The geochemical results demonstrated a clear spatial association with the alteration corridor for both gold and arsenic. The anomaly is open to the east and west highlighting the potential for non-exposed mineralization extensions. A remote sensing study has also been completed across the licence area, and has identified a major northeast-trending deformation zone, within which is a series of intensely deformed 'shear pockets'. Coto de Cruz is located within one of these ellipsoidal shear pockets and a further four more have been identified within the licence area. Ground-truthing these zones will be undertaken in the coming weeks.


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