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09/13/13 - C$0.23
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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$32.5K
President and Director
Total Annual Compensation: C$9.9K
Chief Financial Officer
Total Annual Compensation: C$13.3K
Compensation as of Fiscal Year 2012.

medgold resources corp (MED) Key Developments

Medgold Resources Corp. Updates on Lagares Gold Project in Portugal

Medgold Resources Corp. announced new high-grade gold results for its Lagares Gold Project in Portugal. Highlights include: Underground sampling yielded a composite of 4.60m @ 36.17g/t Au, from three samples individually assaying at 44.90, 10.10 and 54.60 g/t Au; Surface channel-chip sampling yielded 6.10 m @ 4.78 g/t Au; Surface reconnaissance sampling over a strike length of 1.7 km yielded results from trace gold to highs of 15.10, 9.88 and 9.33 g/t Au, within a newly extended mineralized corridor totaling 4 km in strike. The recent work has also led to a significant re-interpretation of the geological model for the project. Previous exploration has focused mainly on the Castromil prospect. The Romans mined gold from underground at Castromil and it was also drilled by Billiton and Connary Minerals between 1988-1990 and 1995-1996, respectively. The company therefore has access to drill core and numerous underground workings. The company's sampling and reconnaissance work has largely focused on the Serra da Quinta area, as this prospect is relatively under-explored, but is believed to host significant strike-extensive and high-grade mineralization. Underground sampling at Serra da Quinta yielded a channel result of 4.60 m @ 36.17 g/t Au from three contiguous samples, individually yielding 44.90, 10.10 and 54.60 g/t Au, and is considered to represent a true thickness of the mineralized zone. The sampling was from a zone of intense alteration associated with the Railway Fault. Located 200m to the south of the underground channel, a surface channel sample was collected, which yielded 6.10 m @ 4.78 g/t Au, with 5 assays ranging from 0.75 to 14.30 g/t Au. Reconnaissance sampling along the strike of the fault was continued 1.7km to the south of the underground channel sample, and returned grab sample results from 0.03 g/t Au (from footwall sediments) to highs of 15.10, 9.88 and 9.33 g/t Au (in intensely altered granites).

Medgold Resources Corp. Provides Exploration Update on its Portuguese Projects

Medgold Resources Corp. provided an exploration update on current exploration work its high-priority Lagares, Vila de Rei and Ponte da Barca exploration projects in Portugal. Medgold acquired Klondike Gold's Portuguese project portfolio in December 2013 and is now exploring all concessions covering over 1,000 square km in Portugal. The company is completing a major reinterpretation of historical results and the early geological observations from this work have identified several key prospects where field work is now on-going. A stream sediment survey has been completed at the Vila de Rei gold project in central Portugal, covering the entire 300 sq km licence area. The results of this program are pending. Reconnaissance field work has identified a number of new zones of intense mineralization generally located along the contact between quartzites and siltstones. The style of mineralization seems to be broadly analogous to that seen at the Pampilhal occurrence, located in the northeast area of the licence, where mapping and rock-chip sampling has identified a series of silicified ribs or ridges. Sampling at Pampilhal yielded assay results ranging from trace to 12.45 g/t Au. Detailed mapping and channel-chip sampling is underway with results expected in late second quarter of 2014. The Lagares gold project is located on the central-eastern part of the Valongo Belt close to the town of Sobreira. Gold mineralization occurs along a granite-schist contact and was locally exploited in a series of underground adits. Future work at Serra da Quinta will continue the detailed mapping and interpretation, combined with surface and underground channel sampling, plus some re-sampling of the historical drill core. Assuming positive results a trench-sampling program will be conducted, with up to 10 lines 100 m apart along the strike length of the prospect. It is anticipated that this work will define clear drill targets. In addition, regional reconnaissance work will continue to the north and south along the main north-south oriented 'feeder' structure. The Ponte da Barca gold project is located in the very north of Portugal, close to the Spanish border. Klondike completed some limited rock-chip sampling, with 15 samples collected, yielding results from trace to 14.8, 12.9 and 12.0 g/t Au. Medgold has identified gold-bearing veins that are interpreted to strike for lengths of greater than 100 meters.

Medgold Resources Corp. Auditor Raises 'Going Concern' Doubt

Medgold Resources Corp. filed its Annual on Apr 30, 2014 for the period ending Dec 31, 2013. In this report its auditor, Smythe Ratcliffe, gave an unqualified opinion expressing doubt that the company can continue as a going concern.


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