Vancouver-based Medgold Resources has entered into a binding option agreement with MetalsTech to sell its interest in the Tlamino gold project in Serbia. MetalsTech was provided with an exclusive option to buy a 100 percent stake in the project for some A$3 million (US$2.2 million), Medgold Resources said in a statement.
“The Tlamino Project is located near Bosilegrad in the far southeast of Serbia, and consists of two contiguous Exploration Licences, Donje Tlamino and Surlica-Dukat, covering a total area of 192 km2,” according to the Canadian business. “The Donje Tlamino Licence hosts the Barje Prospect, for which an Inferred Mineral Resource containing approximately 680,000 oz AuEq in 7.1Mt grading 3.0 g/t AuEq at cut-off grade of 0.7 g/t AuEq was reported on January 30, 2020.”
Medgold bought the Tlamino project in 2016.