Medgold Resources (MED.V) has released some sampling results from a chip channel sampling program at its Marrancos project in Northern Portugal. The exploration program was designed to test a set of quartz lenses, and after sampling 5.4 meters at 6.88 g/t gold and almost 13 meters of 2.71 g/t, it indeed does look like the majority of the gold is hosted in these quartz lenses. According to the company’s president, the mineralized shear structure has now been mapped over a total strike length of 600 meters, and has an average width of 15 meters.
Additionally, Medgold took one sample (yes, just one) from a ‘zone of interest’ approximately 450 meters to the northeast compared to where the channel sampling was taking place, and the lab returned an assay result of 36.5 g/t which, according to the company, highlights the potential the shear zone is continuous for at least one kilometer. Of course, one quick sample doesn’t mean much, but it will be very interesting to see what Medgold can come up with during its follow-up exploration programs on this 39 square kilometer land package.
Go to Medgold’s website
The author has a long position in Medgold Resources. Please read the disclaimer
